Motor Insurance Cost Factors Guide
||Motor Insurance Cost Factors CAR INSURANCE
Motor Insurance Cost Factors Advice
An area which should not be compromised on is Vehicle Insurance - It can turn
out to be a false economy.
Owning and operating a motor vehicle is an expensive process. Besides coming up
with the money to actually buy the car or truck, owners need to pay for
maintenance, auto insurance and most of all, gasoline. With the price of
gasoline reaching ever-higher levels, more and more motorists are trying to find
ways to save money with every time the price rises.
Many factors affect the insurance premium that you may be quoted and these can
vary considerably from one company to another
Speeding offences and disqualifications for speeding are
becoming more and more common in today's motoring community. Many people believe
that this can be directly related to the increase in speed cameras throughout
the UK. The government initiative to reduce speeding in the UK has been
spearheaded by the addition of hundreds of new cameras around the UK producing
millions in revenue each year.
As a driver caught speeding you can expect to receive a fixed fine and have
penalty points added to your licence. The cost of the fine and
the amount of points depends on the seriousness of the speeding offence.
Penalty points stay on a drivers licence for up to four years
and accumulating 12 or more points at any one time will generally result in a
The unfortunate reality behind penalty points is that they can
help to raise your yearly car insurance premium. The reason
behind this is that as a driver with speeding endorsements on
your licence you are classed as a higher risk motorist to those with a clean
licence. The fact is that as a speeding driver you are more likely to be
involved in an accident that can lead to car insurance claims costing your car
insurance company money.
The amount that your premium can rise is directly related to the number of
penalty points on your licence. The more points you accumulate
the higher your premium is likely to become. Finding competitive car
insurance after a disqualification or with penalty points on your
licence can be difficult.