Cheap Car Insurance and Car Safety - High Risk Drivers
Knowing if you are considered to be a high risk driver is really important in that it gives you an understanding that your car insurance premium is being loaded by an insurance company on the basis that they consider you to be a higher risk and therefore potentially likely to cost them money.
This perception by the insurance company may be based on several factors - if you understand their thinking, then you are in a better position to both change any of the factors in your own control that affect their thinking, and also to directly challenge some of their assumptions that may well lead to a lower level of car insurance premium.
Insurance companies classify drivers as high risk on various different levels.
People they consider to be young drivers, normally people in the age group between 16 and 25, are considered extremely high risk simply because of their age.
That means pretty much, that anyone within that age group is going to find their insurance premium excessively high, irrespective of their driving ability or driving record.
Similarly people of an older age, normally people of an aged about 65 or 70 are considered high risk by insurance companies simply because of their age.
This classification is probably not quite as generalised as that of young drivers because people of an elderly disposition will also have a long driving record in their favour which can be taken into account by an insurance company.
Both these generalisations are to an extent unfair, but that is the nature of how insurance companies work.
They work out averages of what their claims figures are likely to be based on a number of factors known to them and charge the relevant policyholders accordingly.
High risk drivers who are young people can best keep their insurance premiums low by either trying to become named drivers on someone else's insurance policy, normally their parents, on the assumption they are allowed to build up their own that no claims bonus under the protection of someone else's policy.
There are also things they can do such as buying pretty battered old cars which are not worth a lot of, as a way to build up their own no claims bonus in order to reduce their car insurance premiums.
Elderly drivers are considered high risk by the insurance industry because they believe that their age makes them more likely to be prone to ageist type problems such as forgetfulness, lack of concentration, and generally more likely to make mistakes that could lead to a car accident or a claim.
Other types of driver considered to be high risk drivers are people of any age who have a poor driving record either in terms of incidents with the police such as speeding, drink-driving, a lack of road awareness - generally a poor driving ability.
Other drivers may also be considered high risk because they have a poor claims record.
This means in effect they have cost either their own insurance company or another insurance company a significant amount of money over time, and from an insurance company's point of view they are a bad risk.
Whichever category you feel you may fall into, if any, there are a number of things that you can do to reduce your car insurance premium.
The first thing to do is take a long-term view and recognise that it will take a while to bring down your costs and keep them under some sort of control.
There is a lot of value in staying with the same insurance company and building as long-term a relationship as possible.
Other things that are worth doing are things such as taking advanced driving lessons and becoming a member of a body such as the Institute of Advanced Motorists or similar body.
Obviously keeping a clean driving licence and not having any claims makes a real difference and proves to the insurance company that you are a better risk than they thought you were.
This perception by the insurance company may be based on several factors - if you understand their thinking, then you are in a better position to both change any of the factors in your own control that affect their thinking, and also to directly challenge some of their assumptions that may well lead to a lower level of car insurance premium.
Insurance companies classify drivers as high risk on various different levels.
People they consider to be young drivers, normally people in the age group between 16 and 25, are considered extremely high risk simply because of their age.
That means pretty much, that anyone within that age group is going to find their insurance premium excessively high, irrespective of their driving ability or driving record.
Similarly people of an older age, normally people of an aged about 65 or 70 are considered high risk by insurance companies simply because of their age.
This classification is probably not quite as generalised as that of young drivers because people of an elderly disposition will also have a long driving record in their favour which can be taken into account by an insurance company.
Both these generalisations are to an extent unfair, but that is the nature of how insurance companies work.
They work out averages of what their claims figures are likely to be based on a number of factors known to them and charge the relevant policyholders accordingly.
High risk drivers who are young people can best keep their insurance premiums low by either trying to become named drivers on someone else's insurance policy, normally their parents, on the assumption they are allowed to build up their own that no claims bonus under the protection of someone else's policy.
There are also things they can do such as buying pretty battered old cars which are not worth a lot of, as a way to build up their own no claims bonus in order to reduce their car insurance premiums.
Elderly drivers are considered high risk by the insurance industry because they believe that their age makes them more likely to be prone to ageist type problems such as forgetfulness, lack of concentration, and generally more likely to make mistakes that could lead to a car accident or a claim.
Other types of driver considered to be high risk drivers are people of any age who have a poor driving record either in terms of incidents with the police such as speeding, drink-driving, a lack of road awareness - generally a poor driving ability.
Other drivers may also be considered high risk because they have a poor claims record.
This means in effect they have cost either their own insurance company or another insurance company a significant amount of money over time, and from an insurance company's point of view they are a bad risk.
Whichever category you feel you may fall into, if any, there are a number of things that you can do to reduce your car insurance premium.
The first thing to do is take a long-term view and recognise that it will take a while to bring down your costs and keep them under some sort of control.
There is a lot of value in staying with the same insurance company and building as long-term a relationship as possible.
Other things that are worth doing are things such as taking advanced driving lessons and becoming a member of a body such as the Institute of Advanced Motorists or similar body.
Obviously keeping a clean driving licence and not having any claims makes a real difference and proves to the insurance company that you are a better risk than they thought you were.
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