Passed my test & bought my first car, But!

Only one person can drive a car at the same time. Therefore if a more experienced driver uses it occasionally, it means that the newer driver is not driving it.... hence the risk is lower.

These days, the only thing that counts is that insured drivers with additional drivers have fewer/cheaper claims. So this group have lower premiums.

A bit like the tendency to charge 3P,F&T a higher premium than Fully Comp.

Here in Ontario your address comes into the equation in a big way. Before I gave up driving due to vision problems, I used to put my car in my daughter's name as she lives in a low populated rural area and is a paramedic. I live in a big city with a population of close to 5 million. The difference in premiums was staggering. However I only did this after retirement and only used the car for holidays and long trips etc., as we live next door to the subway/bus terminal. There are so many crazy drivers over here , no wonder insurance is so high, especially in densely populated areas.

That would be insurance fraud and would make your insurance invalid if you were caught out.

Here in Ontario your address comes into the equation in a big way. Before I gave up driving due to vision problems, I used to put my car in my daughter's name as she lives in a low populated rural area and is a paramedic. I live in a big city with a population of close to 5 million. The difference in premiums was staggering. However I only did this after retirement and only used the car for holidays and long trips etc., as we live next door to the subway/bus terminal. There are so many crazy drivers over here , no wonder insurance is so high, especially in densely populated areas.

In the UK they don't just stop at what address you live at, insurers want to know the type of dwelling, is it rented or mortgaged etc.

Of course address does matter. A car that's kept in a high crime area or an area of the country with statistically greater risk of RTCs will attract higher premiums.

Also many people don't realise their credit score plays a factor in what 'pay monthly' rate they are offered for car insurance.

That would be insurance fraud and would make your insurance invalid if you were caught out.

This - be extremely careful with not providing correct information. When I finally needed to make a claim it turned out I hadn't declared 3 points on my license (I wasn't aware I had to) - it nearly cost me the whole claim. Fixed it at a cost of around £200 after a lot of wrangling when they started arguing whether my wife's profession was listed correctly - basically they wanted more money out of me before the claim, I told them I would take them on with legal protection in place and they backed off, but they will scrutinise everything when you make a claim.

Only one person can drive a car at the same time. Therefore if a more experienced driver uses it occasionally, it means that the newer driver is not driving it.... hence the risk is lower.

I have two motorcycles on a multi bike policy insured only for myself to ride,i can only use one at a time but my premium does not reflect this,i also have to buy two lots of road tax...12 months..£85 each..wouldn't it be nice if I could use one road tax for both.......on the other hand my Hybrid is fairly cheap to insure...£275 fully comp,protected NC etc etc....and is road tax exempt..

VED isn't payment for using the roads, it's entirely related to pollution now (although that honestly makes little sense as it's in no way linked to how much you use your vehicle). A % on fuel would make far more sense TBH and be unavoidable and bureaucracy free as well.

Because insurance works on risk. I don't know the formulas, nor would I pretend to, but that's how it's calculated.

 

Bank managers - seen as dull, responsible types perhaps.

Having kids - kids can be a distraction in the car - could cause crashes.

If you're single - would you be considered likely to drive faster, trying to impress potential partners? More likely to be out socialising and parking in areas where your car could be damaged.

 

I don't know the basis of it, but they're all factors that insurers consider, and they will have a complex system that takes all those things into account when creating a premium. Either that or a trained monkey randomly creates the number.

 

If you want a real laugh, try putting 'musician' in as your profession, and good luck getting a sensible quote!

 

Equally, a friend of mine in the paras wanted to insure his car on the base, and his policy went up 300%. Despite the fact no one would really sneak onto a based filled with armed guards, surrounded by razor wire (as opposed to Frechville where he came from) his policy still went up. It's bizarre, but I'm sure they have their reasons.

I'm sure their algorithms are not perfect, and may contain mistakes or are just not detailed enough to get every scenario accurately assessed.

As Cyclone already mentioned, it's all based on hard statistical analysis, how many X age people in Y postcode with Z car who do A miles per year and work in B profession + all the other considerations have made claims in a certain period and what is the cost to the insurance company of those said claims. Customers with cars being parked on army bases have presumably cost that company a fair amount in claims (possibly nowhere near the army base) so therefore see that as higher risk than other locations.

That said, the different companies can give massively different prices so it's definitely worth shopping around and seeing what deals are available, if there are multiple cars in your household the multi-car policies that some providers offer can give some good savings.

I have heard this said before, but is it true?

 

It does not make sense.

My insurance would be £300 more without my partner on it. He's had his licence for 26 years versus my 9.

I bought a new..ish golf last year and was duly charged £50 by my insurance for the change over.

When it came up for renewal they quoted a tad over £600!! I have fully comp etc. Now, here's the interesting bit. I went on the price sites and put the car reg in and my insurer miraculously disappeared from the quotes. So I went via the long route putting in the car make/model... and so on. All of a sudden my insurance was back in strength coming out at £320. I phoned them up and let them go through the usual blurb about how it was a good price, then I explained that "They quoted" £320 for exactly the same car and personal details online. I did pay the £320 and explained that if it happens again, I won't be using them next year.

It seems they are perfectly in their rights to con us.

As for VED... Just put it on the fuel. It's been said time and time again but it seems that some big businesses don't like the idea so it stays as is. Fred and Flo do a 1000 miles a year going shopping and visiting family and have to pay the same as bubble gum salesman Bob who does 50,000 miles a year... yes that fair.

Only one person can drive a car at the same time. Therefore if a more experienced driver uses it occasionally, it means that the newer driver is not driving it.... hence the risk is lower.

Do the insurance companies realise people are just adding a older driver to reduce the premium?