What Car? Q&A - Why are my insurance premiums so high?

Q: I’ve been shopping around for new insurance cover but all the quotes I’ve been getting are so high. What is the biggest influence on insurance premiums?
Laura Fletcher

A: The two big influences on your insurance premium are age and address. Statistically, teenage drivers are 12 times more likely to be involved in an accident that results in an injury.

This figure drops to four times the average by the time a driver reaches 25. From 30 your risk decreases with every year until you reach 70, then the risk, and the premiums with them, begins to rise again.

Your address will also make a difference to how much you’ll pay for insurance. If you live within the M25 you are likely to be paying more than the rest of the country. The more rural the location, on the whole, the cheaper the premium.

Cornwall, the Isle of Man and the Scottish Highlands are among the cheapest areas in the UK. Some insurers rate risks according to your full postcode, so premiums can even fluctuate depending on which side of a street you live.