Many factors are taken into account when an insurance premium is calculated. Some of your answers will mean a loaded premium while others will create a discount that reduces it. If you have ended up with motoring convictions, then this will invariably increase premiums whichever insurance company you go with until you discover that there are specific convicted car, convicted van, or convicted driver insurance policies that can be obtained. These will allow someone in this position to save a considerable amount of money on a policy. Companies such as onesureinsurance.co.uk, for example, will offer them. It is worthwhile finding out just how much you can save with these convicted driver insurances.
So, let us now think about how motoring convictions and other circumstances could potentially increase a premium, but instead, might not increase it as much as we perhaps thought they would.
Convicted Car or Van Insurance
Motoring convictions severely affect your chances of obtaining a competitive insurance quotation but some insurers will specialise in offering policies for drivers in this situation. This can be whether someone is insuring a car or van.
A convicted car or convicted van insurance policy, also termed a convicted driver policy, can be obtained which will offer the same competitive deal for either means of transport, by finding the right provider. It is possible to save as much as 25% by taking out one of these policies compared to a standard policy that will see your premium significantly loaded. Also, these specialist policies will take into account all kinds of motoring convictions. Drunk driving convictions will be the ones that significantly influence a premium in the wrong direction, so it is good to know that this is covered too with these policies that exist to help out motorists in this position. Many of those affected will, after all, need their car to commute to work to keep their job and ensure their family is fed.
So, with a car or van insurance policy possible, that is specifically for convicted drivers, personal and business drivers can both be helped out with competitive premiums.
Motor Trade Insurance Policies
It is good to know that online insurers offer motor trader policies if you have not discovered any so far.
If you are in the circumstances with your business that means you are having to refuse customers because they want you to pick up and drop off their car, then it is because you do not have a motor trader insurance policy. It can be possible to obtain a very competitive quotation even though it is a specialist market. As long as you employ drivers that are not considered young drivers by insurers, then your quotation has a great chance of being affordable. Then you can offer this extra service to your customers of collecting and delivering vehicles after they have been repaired or valeted, for example. This type of insurance can be responsible for expanding and growing a motor trade business.
Private Motor Insurance
It is a difficult decision when it comes to what is best for your teenage children when they pass their driving test. Do you pay for them to have an insurance policy in their name or put them onto your policy? If you can afford it, I would say have a separate policy for them so that they can start building up their no claims bonus straight away. On the other hand, it is cheaper to have them as a named driver on your policy because they are not then the main user. It is, after all, their age that will bother the insurer.
Another way to reduce insurance costs for younger drivers would be to buy a vehicle of low value and have Third Party Fire and Theft cover or just Third Party Only cover, rather than Comprehensive. It is a way to get them started with motoring. It is certainly a good idea to avoid vehicles that are classed as high performance or have higher engine cubic capacities than should be necessary for them.
In conclusion, cheaper insurance quotations can be contained by opting for insurers that understand predicaments, such as convictions that will not go away. Also, insurers who specialise in certain insurances, such as motor trader policies, will be able to offer better deals than those that offer them just to try and compete with others and have every insurance it is possible to supply. Lastly, although circumstances do not change, insurance quotations can be lowered by thinking around the problem. For instance, it will be cheaper to put young drivers as named drivers on a parent’s policy, as long as you are not expecting no claims bonus to be earned by them in the interim. It does also depend on whether the young driver is the main driver and needs the car for work. Then, it should be in their name to be insured correctly.
So, this is definitely something to think about when your circumstances make insuring vehicles potentially difficult.