Why is my car insurance so high?
I'm a 41 year old guy that lives in London with a EU license for over 20 years. I have been in the UK for about a year and I'm shocked that I just got enough money to buy a Audi Q7 2012 and checked my insurance that it's 150 a month! My friend pays 40GBP a month for a 20111 BMW, i don't understand? I checked my insurance on a Ford Focus and it is still at 130GBP a month, any ideas?
Ask the insurance company, they have mathematical formulas that use a lot of factors to determine cost including the drivers past driving history, the type of vehicle, the area they live and the number of accidents in that area, how long that person has had a license etc.
maybe you have had more accidents or tickets that the friend with cheaper insurance or he lives in a low accident area and you live a block away form an intersection that has a higher than normal accident rate compared to other areas and the chances of you getting into an accident are higher, or maybe it is because you have only been in the UK for a year and he has all his life
You may have had your licence over 20 years but you have ZERO no claims. Therefore you are classed as a new driver and your premium will be high until you have built up your no claims discount. That is how out insurance works and there's no way around it.
The rea you live and number of accidents that happen in that area will affect your premium as well as how much you drive each year - everything should be spelled out in the policy papers - maybe your friend chose lower coverage or has paid off his car and therefore does not need collision anymore - could be any number fo things
You have purchased the car insurance, so how we can come to know why is it so high. Ask your insurance company. If you are a smartphone user, do install Leo Privacy Guard, Its free available in both iTunes for iPhone, and android's PlayStore, the best security app.
Car insurance is very highly affected by your insurance history. You currently have no UK insurance history - no "no claims discount". If you had about 7 years of UK insurance history without a claim you would have up to 75% no claims discount, which would bring your £150/month down to £37.50/month.
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