I Can’t Understand Why…

There’s three times of the year that any car owner dreads: road tax time, MOT time and car insurance time. For me two of them are in the same month – I’m always so bloody happy at the end of June – and car insurance comes, strangely enough, the same month as I bought my car. So now is renewal notice time.

I cannot understand the logic used by insurance companies when working out premiums and I would love it for someone to explain them to me. For example, when I was living out in the ‘sticks’ I was in a lucky enough position to park my car in a nice, warm and secure timber garage – it came with the house. Nor was the house in an area with anything resembling a crime rate and the garage was at the end of a drive away from the ‘main’ road. Yet, somehow it was pretty high compared to previous rates. As if living away from a police station somehow meant my car was more likely to be stolen from within a locked garage??

Now, since then I moved into town. My car is parked either on the road or on the drive (depending on who gets home first) and the area is right next to a main road and there’s plenty of street traffic. Yet, somehow my insurance is a less than it was when my car was locked up at night. Surely this can’t be because I’m in a more built up area can it?

Before someone comes along and points out the extra no-claims bonus I’ve gained this year, I’ve taken that into account. The only other thing that could be that my car is no long a new Alfa and, therefore, of a lower market value. The car itself hasn’t changed in any other way, there’s no extra alarms or clamps just a few more miles and one more year on its age. 

While I’m not complaining – I was expecting it to be higher this year given my change in address – I’m just confused as to the logic.

I’ve always been under the impression that it’s more to do with where your car’s kept and parked etc more than what it is… am I right or wrong? Can someone please help me understand how the insurance companies decide how much of my money to take each year?

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