The most important thing you’ll need when driving through Glasgow is a valid motor insurance policy as the roads in Scotland’s most populated city are known for their congestion. In fact, Glasgow is thought to be one of the most expensive cities to live in thanks to its rich history, which draws visitors from all over the UK each year. The last thing that anybody wants to do is pay out of pocket for their car insurance, however many drivers, particularly Glaswegians, often fall victim to overpriced premiums due to the way they’re calculated.
Quote Goat compares quotes from over 100 different providers so you can see reliable, real-time results that can potentially help you find the best prices on your car insurance. Understanding how premiums are calculated using statistics and the different factors that providers take into consideration when formulating a quote is something that every motorist should know. After all, you may be able to save hundreds with just a few simple alternations.
What statistics do insurance providers use to calculate a premium?
Postal Code: A lot of drivers are surprised to discover that their address can have a major influence on the cost of their car insurance. This is because providers look at local statistics for the area in order to see how likely an accident is take place on nearby roads or how much of a risk of theft the proposed vehicle would be at. This is one of those components that you simply cannot change so it’s important to put down your real address or you may end up invalidating your policy.
Age: Drivers who are aged 25 or below are often subject to inflated insurance premiums simply because national statistics suggest that their lack of experience behind the wheel makes them riskier to insure. There is a lot of controversy surrounding this approach as mature drivers with the same amount of road awareness aren’t dealt such a poor-hand by the algorithms. Luckily, telematics and no claims bonuses are two necessary extras that can help young drivers save money.
Vehicle: The car that you choose to drive is also subjected to statistical analysis as some makes and models are deemed to be more at risk of theft and damage. As a result, you can expect to pay a higher premium if you are the proud owner of a luxury vehicle like a Jaguar, BMW or Audi. A lot of drivers tend to opt for most discreet and generic models because it is an effective way to reduce your insurance costs.