Drivers warned of common mistakes that could be increasing their car insurance prices
| Published date | 29 June 2022 |
However with petrol prices also soaring, motorists are being hit hard and now drivers are being warned that there are things that they could currently be doing which are actually costing them a lot more in the long run.
So whilst fuel can be costly, so can insurance - two expenses you can't avoid. But now experts at Goodbye Car have complied the top seven reasons as to why your insurance could be affected and potentially costing you money that could be put towards other things.
Here's the seven things you could be doing that's driving up the cost of your insurance:
1. Employment Status – Disabled and retired drivers pay almost double that of those in employment
Collecting data from June of this year, experts said that whilst risk is a factor that goes into setting insurance prices, they found it disappointing the most vulnerable in society are charged more for their car insurance. They said: "A person of retirement age can expect to pay almost double that of a homemaker, while those who are not employed due to a disability or illness will pay over £830 more for their car insurance."
2. Education – Student nurses are charged the most for car insurance
It's no surprise to learn that nearly all students have a higher insurance price than those in a full-time job. They add: "What is unusual is that many of the students that you would typically consider to be more responsible are charged higher prices.
"For example, a student nurse living away from home can expect to pay almost £400 more than an undergraduate student living in uni accommodation. Similarly, an undergraduate student living at home will be charged just over £250 more than a school student."
3. Driving licence Type – EU licence holders charged over £1,400 more for car insurance
According to the experts, a full UK licence will result in cheaper car insurance in the UK compared to an EU licence however the price gap is "significant". This is due to "EU licence holders being charged over £1,400 more than UK full licence holders."
They continued: "It stands to reason that car insurance for those with a UK provisional licence is more expensive than those with a full licence, but it's surprising to find that UK automatic licence holders are expected to pay almost £700 more. With the change to electric vehicles that...
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