How are my motor insurance premiums affected by convictions, drink driving etc?

The costs of insuring yourself, your health, your home, your motor vehicle etc will take up a healthy chunk of your monthly income. Thus, making your insurance premiums more expensive is not a good idea, and not easy to budget for. It's worth finding out what can do this, so you know what to be careful of. Events that can raise your premiums can be put into two categories. One category is about you as a person, including your job, location of your home and your medical history. The other category is about the way you drive, and your behaviour.

If you move into an inner city area in order to buy a cheaper property - particularly due to Gordon Brown's initiative, whereby he has abolished stamp duty to rejuvenate some inner city areas - some costs will go up, and motor insurance is one of them. More traffic and the higher rates of crime endemic to inner cities means that the gains caused by lower house prices may be nullified by motor insurance premium rises.

A hazardous occupation could raise your premiums. Should you use your car for business, your premiums will rise. Don't think the delineation between non-hazardous and hazardous occupations is easy to find. Journalists travel a lot, which means they are statistically more likely to have accidents, so their premiums go up. If you think your occupation is being unfairly penalised then speak to your insurer.

Having had a less than good medical history also won't help you. You must declare any health problems on your insurance application form, but you should expect these to create problems for you on trying to find insurance. Any illnesses that could lead to blackouts will raise premiums, as they cause more risks for insurers.

Driving convictions start at driving through a red light, speeding and a few others. Once you have these you will have to pay larger premiums and probably a larger excess before you can get insurance. So it is in your interests to carefully watch your speed and don't take any risks with traffic lights, because you will literally be paying for it with your premiums for many years.

But the most serious conviction by far is for drink driving. Insurance companies take an enormously dim view of drink driving. Should you be convicted for this, you would find it very hard to get any insurance whatsoever. If you do get insurance, you are unlikely to get a discount. Even if you do get insurance, you may not be able to get comprehensive cover, only third party insurance, and the restrictions such as these could last for years.

 

 

 

 

 

 

 

 

 

 

 

 

© AskFinancially.com 2008

Motor Insurance

Ask About

> Motor Insurance Advice.....
> What are the laws regarding motor insurance in the United Kingdom?
> What are the principles behind motor insurance?
> What types of motor insurance policy are available?
> What is third party only insurance?
> What is third party fire and theft motor insurance?
> What does a comprehensive motor insurance policy cover?
> What is excluded from comprehensive insurance policies?
> How do I claim?
> What to do if you have an accident?
> How do I claim if an accident causes damage to my car?
> How do I claim if the accident involves a third party?
> What do I need to do if using my motor vehicle abroad?
> How do I find the cheapest motor insurance premiums?
> How can I lower my motor insurance premiums?
> How are my insurance premiums affected by convictions, drink driving etc?
> Why do some motor insurance specialise in just young drivers?
> Why do some motor insurers specialise in just lady drivers?
> Why do some insurers specialise in higher performance motors?
> What are the road tax rates by specific type of vehicle?
> Who should I contact should I wish to report a problem with an insurance company?
> Who do I contact if I have a complaint against a finance house?
> Who should I contact should I feel I have been a victim of misleading advertising?
> Are motor insurance laws different in Ireland?
> Are motor insurance laws different in Scotland?
> Are motor insurance laws different in Northern Ireland?
> Are motor insurance laws different in Wales?