5 Things That Affect The Cost of Car Insurance

Paying for car insurance is something that most people don’t relish, but the fact is it’s necessary to make your car road legal.

The cost of car insurance depends on a few different factors. When insurance providers come up with the cost for your policy, they consider how likely you are to make a claim as well as how much they’d need to pay if you did.

With this in mind, below are 5 of the main things that will affect what you pay for car insurance.

Your age

Age is certainly a big factor when it comes to the cost of insurance. New drivers in their late teens/early twenties will pay the most for car insurance, simply because they’re the group most likely to be involved in an accident. Once you get over 30, insurance prices should gradually reduce, providing you don’t make many claims or get convictions…


If you have any criminal convictions, including driving convictions, then you can expect to pay more for insurance. Insurance providers consider those with convictions to be high risk and therefore set the price of cover higher. Penalty points and disqualifications are part of your driving licence information and something insurance providers will certainly take into account.

There are many types of driving convictions you can get, but speeding convictions are the most common. All speeding convictions fall under the SP category of driving conviction codes, for example an SP50 conviction means you were caught speeding on the motorway. You can get SP50 insurance from specialist providers in this case.

The value of your car

The value of your car is another big thing that will determine how much your insurance costs. If you take out a fully comprehensive policy, then insurance providers have to consider what it would cost to replace your vehicle if it were written off.

The level of cover you take out

The level of cover you take out will have a big impact on what you pay too. The cheapest level of cover you can get is a third party only policy. This won’t provide any protection for your vehicle, but it will make it legal to drive. Extras such as windscreen repair, breakdown cover and legal fees can all bump up the cost too.

Where your car is parked

This is a big one since it goes a long way to determining how likely your vehicle is to be targeted by vandals and thieves. If you have a locked garage, then this is ideal and you would pay considerably less than someone who parks their car on the street or on an easily accessible driveway.