Car Insurance - How To Lower Your Premiums (Part 2)

As mentioned in the previous article, your noSuch modifications include anything from
claims bonus will play a large role in how muchperformance enhancing features to racing stripes.
your car insurance premiums will cost you; inThe simple fact here is that if you're insuring a
some cases this can result in savings of anythingmodified car, your going to pay more than you
up to 75%.would normally. The main reason for this is that
Essentially, the no claims bonus scheme was putstatistically, modified cars are involved in more car
in place to reward careful drivers, who did notaccidents than their unmodified counterparts.
cost their insurers anything. So, for every yearMoreover, many insurers won't even consider
that passes and you manage to not make a claimprocessing a quote for modified cars, resulting in
on your insurance, you will be rewarded withless competition thus higher average premiums.
another years of no claims.Still on the topic of how vehicles can affect
Obviously the longer you maintain your no claimspremiums, is another important factor known as
record then the more savings you will be able toinsurance ratings. This is a numbering system,
reap with regards to insurance premiums.generally ranging from 1-20, imposed by insurers
It's important to note that when comparingto help grade how much insurance for a particular
quotes, the size of the insurers no claims bonusvehicle will be.
should not be the sole reason for choosing thatBasically, the higher the number, the more
insurer as other factors should be taken intoexpensive the car will be to insure. The rating on
consideration.each car is mostly based upon its engine size and
Not mentioned yet, but another major factor isweight; the cost of replacement parts and how
whether or not the car you insure is modified, orlikely it is to be stolen also play a part though.
whether you intend to add any modifications.