The cost of driving is not getting any cheaper. Many drivers are feeling the pinch at the pump when they fill up their fuel tank, and many drivers are also experiencing the additional financial burden associated with rising insurance costs. You may not realise it, but the car you choose to drive plays a major role in the cost of your UK car insurance. The next time you trade in your vehicle and make a new purchase, keep these factors in mind to find savings on the cost of your insurance. Check out Kwik-Fit Insurance and save up to 20% online.
The Power of Your Engine
One of the factors that will affect the price you pay for car insurance is the power of the vehicle’s engine. Cars with more powerful engines are statistically involved in more accidents, and many of these accidents result in more costly repairs. This is due in large part to the fact that more powerful engines allow drivers to accelerate more quickly, and they encourage more aggressive driving behaviour. If you are considering buying a new vehicle, you can get a quote for insurance cost based on the same make and model with different engine types to see the difference for yourself.
The Replacement Cost
The cost of some car accidents is more significant than the cost of others. One aspect of the cost of an insurance claim results in the severity of the accident. However, accidents involving more expensive cars will result in more expensive claims. One of the key factors that is taken into consideration when calculating an insurance premium is the replacement value of the vehicle. Sports cars and luxury cars may be more expensive to insure, but even standard cars that are loaded with expensive, high tech, electronics systems can also be expensive to insure. Generally, a car with a lower sales price will have a lower replacement cost.
The Safety Equipment
Some vehicles are safer to drive than others due to their structural build and their safety components. When you file a claim, the cost of medical bills related to an accident may inflate the cost of the claim. With this in mind, drivers will find savings on their insurance premium by choosing a vehicle that statistically is safer and results in less costly medical expenses after an accident. You can review safety ratings on cars and look for things like reinforced steel beams in the car, air bags and other related features.
No driver in the United Kingdom wants to pay more than necessary on UK car insurance. By understanding the factors that are reviewed when calculating an insurance premium, you can more easily take control of your insurance cost. While many factors are reviewed to calculate an insurance premium, quite a few of these factors relate to the vehicle itself. You can save money on your insurance cost by keeping these factors in mind when you buy your next vehicle.