Let us sample
two lads, who are seemingly playing identical twins
in and during their daily routines while in
possession of an insured car. These fellows do not
like being referred to as children by their parents;
instead they would rather be known as young adults.
It is only fair then that we set their age on auto
default-twenty four (24) years. These two guys were
once classmates in college hence share the same
occupation. Again, since both surfer similar driving
diahorrhea, they both present identical driving
symptoms. As if to outwit each other, they were
diagnosed to have driven and covered a whooping
10000miles each in one year- Phew! On being snapped
up by the traffic law enforcement agents, the two
were found to have attended the same driving school
and surely passed the advanced driving examination.
The officer grinned- in a manner likely to suggest
wielding a whip-but let them go reluctantly. The
list of similar traits goes on and on-none of the
two was married-explains why each had a sixteen year
old “babe” occupying the co-driver’s seat almost on
named identical suspects were favourite darlings of
insurance firms in the UK. They knew of the short
term car insurance premiums. Needless to mention,
they were both insured by one insurance company
through one broker with identical options.
Strangely, one of them pays nearly twice as much as
his counterpart annually. The one who pays less was
discovered to have rented a flat in Leeds, while his
twin friend lives with his parents in East London,
where car insurance rates are comparatively high in
the UK. Unfortunately, this part of London is
regarded as one of the insurance black “spots”.
firms especially in the UK offer insurance
premiums-whether short term Car insurance or
otherwise, base it on various risks which they take
into account. Examples of such risks include parking
your vehicle at your residence where the statistic
claims made by premium policy holders from the same
location indicate high risk.
plus many other factors, aggregate to determine the
risk of damage to a car or its loss-thus influencing
the premium levels that you will pay per annum.
Previous research reveals that short term car
insurance premiums are higher in East London and
post the lowest in Dundee.
most rural countryside areas, insurance firms
typically demand lower premium rates for short term
car insurance premiums as compared to cities and
towns. This, of course is not the rule of thumb,
because even if one lives in a rural set up with low
levels of car theft crime, the premium may not
necessarily indicate that rate, and thus the value
which the insurers should have to pay goes up.
For as long as
insurers offering short term car insurance keeps on
loading premiums on areas perceived to be
“high-risk” urban areas, the said short term car
insurance expenses will keep on rising-more so in
locations like East London while prime areas of
Dundee and Aberdeen remains relegated to the bottom
of the premium league tables.