Driver Risk Categories in the UK

In the world of insurance premiums, there are many different formulas used to calculate risk. One of the most important considerations to keep in mind, if you fall into one of these categories, is that not all insurance companies assess risk in the same way.

Regardless of how long you have been driving and what your other circumstances may be, it is important to notice that a different company may not have the same perception of risk. A company prepared to go an extra mile to assist you in finding a good, affordable policy is more likely to be a good claims partner if you end up really needing it.

Young Drivers

Many young drivers assume they will be required to pay more regardless of how safe they are, and regardless of the quality driving experience they already have. However, this is not always the case, and everyone deserves to have their situation customized. In fact, that is exactly what a policy is; a customized damages plan. The reality is that many companies have a standard formula and are unwilling, not unable, to deviate from it.

Things to look for: a company who will reward you for having the Pass Plus certificate; a company who will let you have a 'starter policy' that will allow you to build up a no claims bonus. These are signs that the company has a fair practice policy towards their younger driver accounts.

Women Drivers and UK Insurance

Regardless of conflicting studies which show both that women are safer drivers than men and also that they are less safe, some insurance companies operate on false assumptions, regardless of the individual driver's history.

In addition to the normal types of cover, women have a unique situation when they are on their spouse's policy. They might overlook the no claims bonus because of this. Find out if your company will offer you and equivalent bonus to the number of years that you have not made a claim. Be prepared to prove that you have not made a claim during those years.

Drivers Over 50 Years

The great irony of the widespread insurance practice of charging older drivers more is the fact that they are usually the ones who have been driving the longest. A longer period of time with the same quantity of claims as a younger driver, however, results in a lower ratio of time driving to claims made. Safety habits are more deeply ingrained, and drivers over 50 are not only less likely to take risks while driving, they have also been shown to be less likely to file claims. The time spent on finding a company that recognizes this is time well invested. A lower quote can save a lot. Drivers over 50 have been around long enough to know that the person who gives the quote may or may not be motivated to find you the best offer.

When in Doubt, Shop Around

Any insurance provider who does not want to take the extra step of running all of your personal information through a customized insurance quotation system is more likely to make false assumptions about risk. Formulas of this kind can often work against certain drivers. Rather than becoming discouraged, it should motivate you to find the kind of insurance partner who understands that youth does not always mean inexperience, being elderly may make you a safer and more experienced driver, and many statistics show that women have overall safer driving habits than men. The real trick is finding the company who perceives your value.

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