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Where your car is kept overnight - how it affects insurance...


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Saw it mentioned in a couple of threads on here so thought I'd share this.

 

Had a discussion when insuring my previous car about how the location where the vehicle is kept over night affects your premium. I'd always heard that it actually costs more to insure if garaged overnight than if it was on the street, but never really believed it. After a bit of adjustment to my online quote (with Admiral I think) these were the results. All details were kept the same except the overnight location. Pretty interesting I thought...

 

Screenshot2014-03-12at074448_zps3b3eb125.png

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Unemployed. .... more

Access to another car...... less

Married......less

Kids under 16......more

Homeowner......less

Journo.......more (even of no business use)

 

Its because more people crash into their garage or damage it in while parked in there than those who just park on the drive

 

Usual insurer shite.

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^ agree with Zhorno, This will differ depending on so many factors.

 

Perhaps, those who own z's, who live in your area, who are of your age or similar, who have similar mods, etc etc crashed into their garage, and the formulae the insurers use is still appreciating the cost of the garage because of this.

 

I would venture, that if you had a different car, were in a different area, did a different job, you would see different results.

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I'd rather pay more and have my car in a garage than less and have it on the road.

 

I questioned this with Admiral last time as it was cheaper to leave my car on my previous addresses road than it was on the drive way, the road was a bus route where numerous cars had been hit as it's quite a tight road.

 

I also raised the point of 'what happens if I've insured it to be parked on the road but because there is no space to park I put it on my drive way, will you still pay out?'

 

Answer I got was yes, they will still pay out. So it makes even less sense.

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Wonder if this is the same In bad areas though

 

Yes, I'm sure there are loads of other influencing factors, I thought it was interesting nonetheless.

 

I'm in NG2 which is more or less in the middle of the risk scale according to this: http://www.carinsuranceexplained.com/car-insurance-explained/car-insurance-postcode-risk-list.html

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Being on a driveway or in a garage means its very obvious where the keys are stored, potential thieves then wait till the house is empty, raid it for the keys and simply drive off with an undamaged car, hence the insurance premiums...I would have thought?

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As said, it does depend on areas. I knew in most places it was dearer to garage due to high potential for damage caused in garages. The surprise to me is that it's cheaper on the road than on a drive. That really don't make sense.

 

Also just a heads up for those who are insured in a garage - look at your small print. I've have noticed on mine that if I Park at my home address between the hours of 2300 and 0700 it HAS to be in the garage or I am NOT INSURED!

Pretty @*!# if you decide to have a drink and have forgot to put the car away.

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Wonder if this is the same In bad areas though

 

Yes, I'm sure there are loads of other influencing factors, I thought it was interesting nonetheless.

 

I'm in NG2 which is more or less in the middle of the risk scale according to this: http://www.carinsuranceexplained.com/car-insurance-explained/car-insurance-postcode-risk-list.html

 

I'll give this a go on, see what it's like in my area ..... S**t hole lol

 

 

Sent from my iPhone using Tapatalk

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Also just a heads up for those who are insured in a garage - look at your small print. I've have noticed on mine that if I Park at my home address between the hours of 2300 and 0700 it HAS to be in the garage or I am NOT INSURED!

Pretty @*!# if you decide to have a drink and have forgot to put the car away.

I'd ignore that: Unless you were doing it every single day, then it would be classed as an unfair contract term and dismissed in court. As you say, there's plenty of reasons you might not always have the car in the garage overnight and as long as it was the exception rather than the rule, it would not be reasonable for the insurer to reject a claim.

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Wonder if this is the same In bad areas though

 

Yes, I'm sure there are loads of other influencing factors, I thought it was interesting nonetheless.

 

I'm in NG2 which is more or less in the middle of the risk scale according to this: http://www.carinsura...-risk-list.html

 

Not sure how accurate this is? Any insurer I went to said my postcode was one of the safer ones, but this puts me at E?

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Being on a driveway or in a garage means its very obvious where the keys are stored, potential thieves then wait till the house is empty, raid it for the keys and simply drive off with an undamaged car, hence the insurance premiums...I would have thought?

 

If its in the garage the potential thieves wont know its there unless of course they have the new zx septum blaster with xray vision attachment

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Being on a driveway or in a garage means its very obvious where the keys are stored, potential thieves then wait till the house is empty, raid it for the keys and simply drive off with an undamaged car, hence the insurance premiums...I would have thought?

 

If its in the garage the potential thieves wont know its there unless of course they have the new zx septum blaster with xray vision attachment

 

If someone is going to nick an expensive car they will do the ground work first - stake it out, and take it. Its not difficult and said tech is not required.

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Not sure how accurate this is? Any insurer I went to said my postcode was one of the safer ones, but this puts me at E?

 

It may well depend on the insurance company anyway, much like it does with vehicle groups.

 

I was actually trying to find this postcode checker earlier, puts mine in the same category though: http://www.visitcars.co.uk/car-insurance/insurance-post-code-risk.html

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Saw it mentioned in a couple of threads on here so thought I'd share this.

 

Had a discussion when insuring my previous car about how the location where the vehicle is kept over night affects your premium. I'd always heard that it actually costs more to insure if garaged overnight than if it was on the street, but never really believed it.

 

Ive been saying this for years! It only takes a few minutes on confused.com playing with your estimate to see what difference things makes.

 

For example, try adding the 85 year old Granny who lives 3 doors away down your road to your quote as a named driver. It will reduce the premium. Amazing really that insurance companies think 85 year old Ethel is likely to be a safer driver in a 300bhp zed than you are.

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Its because insurers use outdated and process poor techniques for working out the numbers, ironically it is impossible to properly determine causality, you can use basic correlations to make associations but it doesn't necessarily mean two things correlating strongly are actually driving each other, it is often a multitude of other factors.

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Saw it mentioned in a couple of threads on here so thought I'd share this.

 

Had a discussion when insuring my previous car about how the location where the vehicle is kept over night affects your premium. I'd always heard that it actually costs more to insure if garaged overnight than if it was on the street, but never really believed it. After a bit of adjustment to my online quote (with Admiral I think) these were the results. All details were kept the same except the overnight location. Pretty interesting I thought...

 

Screenshot2014-03-12at074448_zps3b3eb125.png

Just plain crazy....good to know though :)

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Its because insurers use outdated and process poor techniques for working out the numbers, ironically it is impossible to properly determine causality, you can use basic correlations to make associations but it doesn't necessarily mean two things correlating strongly are actually driving each other, it is often a multitude of other factors.

 

Yeah, What he said !..... :blush:

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