Car Insurance – Specialist Policies
Probably the most common form of specialist insurance is policies designed specifically for young drivers. As those new to the road are more likely to have an accident, they are considered a higher risk, which is reflected in higher insurance premiums.
Generally anyone under 25 years old will fall into this category, there are however, a number of insurers who cater for such individuals.
Essentially, policies from these providers are stripped of all the ?frills? such as no claims bonuses, smaller excesses, replacement cars etc. Doing this allows the insurer to offer a policy with much lower premiums.
Equally as popular but fundamentally the opposite of young drivers insurance, is insurance for women. Statistically, women are responsible for less road accidents and drive slower when compared to their male counterparts. For this reason, they cost insurers less and these savings are passed on in the form of lower premiums.
The biggest savings are seen in people in the under 30?s age group, individuals above this age are considered less risky by insurers, regardless of their sex.
Nearly all insurance companies offer lower rates for females, there are however, numerous female-only insurers which may or may not work out better value.
Those aged between 50 and 70 years old are considered the safest on the road, as they tend to cause fewer accidents and have the most experience. This gives them access to discounted insurance rates.
As with female drivers, many companies offer lower rates by default, but there are numerous specialist companies.
If you are the owner of a classic vehicle then it?s important you obtain specialist insurance, to make sure you are fully covered in the case of an accident.
Firstly, you need to find out which category your car falls into, based on its age. Cars at least 15 years old are known as classic cars, those manufactured between 1903 and 1933 – vintage cars, and before 1903 – veteran cars.
Secondly, it?s important to get your vehicle officially valued and have this guaranteed by your insurance company. When this sum is agreed upon they should pay you the full amount on the off chance you need to make a claim.