By Mashum Mollah
The cost of insuring a vehicle is Northern Ireland is higher than most other areas of the UK for a simple reason, the age of the average driver. With a high number of drivers under the age threshold of 25, the average cost of insuring a vehicle in this country is just higher. This is to help cover the cost of repairs and claims due to the inexperience of younger drivers. Many UK comparative sites now offer motor insurance in NI, Van insurance NI is one of the few that focus only on Northern Ireland making it a good starting point for a better deal on van cover in NI.
While age of a driver weighs heavily on the cost of insuring a vehicle, so does the sex of the driver. True or not, young men are seen by the insurance industry as a higher risk than young ladies. Because of this the annual rates for insuring a vehicle for a young man in Northern Ireland is higher. The highest rates are being paid by young men between 17 and 21 years of age.
According to The Guardian the premiums for Northern Ireland residents has steadily risen for the past 8 quarters. The rise in costs is expected to continue this year, 2018. This year Northern Ireland residents will have the second highest insurance premiums in the UK. The highest is for those living in the North-West section. Ironically those living in London are now ranked behind Northern Ireland, in third. In 2016 London and Northern Ireland were 2nd and 3rd respectively according to the Belfast Telegraph.
The exact cost of an insurance premium has more factors than just the age and sex of the driver. The type of vehicle, cost of the vehicle, engine size and the all-important driving record of the vehicle owner are also major factors in the cost of the insurance premiums.
A factor most do not realize that affects the cost of insurance premiums is the average mileage a person travels each year. From an insurance company’s perspective, the more time and higher mileage a driver is on the road, there is an increased chance of an accident occurring. This leads to more claims so drivers in those areas to have higher premiums to cover the increased costs of the claims.
Whiplash claims are another factor that weighs heavily on Northern Ireland insurance premiums. The average amount in a claim of whiplash victims in NI is considerably higher than all other parts of the UK. This trend has been going on for years. The payouts for these claims are another contributing factor to the higher cost of auto insurance in Northern Ireland.
Ways to reduce the cost of auto insurance for Northern Ireland drivers can take several paths.
- Smaller vehicles with a smaller engine.
- Reduction in the amount of annual millage the vehicle will be used for.
- The fewer the number of claim the better.
- There is generally a bonus discount for drivers who do not have claims.
- Having a driver over the age of 25 on the insurance policy.
- Being married.
- Avoid traffic tickets.
- Pay a higher deduction.
Shopping around for a van insurance premium is one of the best paths to follow in finding the lowest cost for covering your vehicle. By comparing several different insurance companies in premium costs, deductions and no claim bonuses, the best value for your money can be found.
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