This is one of the biggest factors at what cost you get on your car insurance. It does matter if you are over or under 25. If you are under the age of 25, the price of a car insurance just gets a real upside.
Insurers’ statistics say that young people under 25 do a lot of damage to their cars. This is both because of a lack of routine, but also because young people tend to drive a little more crazy than is allowed.
Where do you live?
The geographical location of your residence also has a very big impact on your car insurance. If you live in the big cities, the premium for a car insurance is significantly higher than it is if you live in the countryside. The insurance companies receive many damage or vandalism on cars in the big cities, and thus prices are set according to where in the country of residence.
Number of years of own insurance
This is also a significant factor in the cost of your car insurance. This has a bearing on the routine you have built up by driving in your own car. And routine is often something that insurers love to hear about in the context of a car insurance.
Number of damage-free years
It is somewhat related to the upwards number of years of own car insurance. But not only have you had your own insurance, it is also a significant factor in how many years you have been driving without damage. Again, it has something to do with routine, and it can have a bearing on the cost of your car insurance, so will benefit you.
Which car you would like to insure really matters a lot for the price. Is it a sports car with many
horsepower, then it is almost state guarantee that you will pay at box 1. Size and weight of the car is also important for the price. Something that suggests the price may fall slightly is if the safety of the car is high.Number of kilometers per year
If you drive many kilometers a year in your car, the insurers have compiled statistics on how likely you are to report an injury to your insurance company. The more kilometers, the more the price is added. If you drive more than you told your insurance company, they may choose to say that you have not complied with your insurance agreement with them, and in doing so they can avoid paying compensation to you. Therefore, it is important that you adjust your stated mileage with your insurance company.
Liability insurance or hull insurance?
Whether you have liability or hull insurance has a huge impact on the insurance premium. Liability insurance is compulsory and you cannot drive a car without it. It is the cheapest version of the two types of insurance you can get, but it is also not quite comprehensive in terms of a hull insurance.
Liability insurance covers the damage you do to either other persons or material things.
A hull insurance covers like a liability insurance, but it also covers you, plus damage to your car. An insurance policy can be very useful if, for example, you have a car of greater value. Especially if you owe money in the car it can be a really good idea. Often, finance companies will not lend you the money at all unless a car insurance is taken out on the car. It is their safety to get some of the money back in case the car gets totally damaged.
What size deductible you choose will also affect the annual premium you have to pay. A deductible is the part of the compensation that you have to pay yourself in the event of an accident or damage to your car. The higher your deductible, the lower your premium will be. But if the accident happens and you have a deductible of DKK 20,000, for example, it will mean that if the compensation is DKK 170,000. then you really only get $ 150,000. because you have to pay the rest yourself.
This can have serious consequences for you if you have borrowed the money and cannot repay them at once. Then you will end up with a residual loan that you have to pay off, and it may be at the same time that you are buying another car for borrowed money. That way, you have a double payment on a car loan.
Are you a customer in advance
This can help you get the price down on your car insurance. Often, insurers like having all your insurance with them. Therefore, there may be an advantage in gathering all the insurances in the same company, thereby obtaining discounts on all your insurances.
You just have to be extremely focused on ensuring that your insurance needs are met throughout the insurance package.