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Edinburgh Live

National

Sophie Buchan

Drivers warned of common mistakes that could be increasing their car insurance prices

Insurance DVLA European Union United Kingdom Disability Petrol

The cost of living is rising with many trying to save money no matter how small the change.

With the likes of energy and shopping bills going up, many people are taking to the internet in a bid to read up on the latest information and news about inflation and what it means for them.

However with petrol prices also soaring, motorists are being hit hard and now drivers are being warned that there are things that they could currently be doing which are actually costing them a lot more in the long run.

So whilst fuel can be costly, so can insurance - two expenses you can’t avoid. But now experts at Goodbye Car have complied the top seven reasons as to why your insurance could be affected and potentially costing you money that could be put towards other things.

Here's the seven things you could be doing that's driving up the cost of your insurance:

1. Employment Status – Disabled and retired drivers pay almost double that of those in employment

Collecting data from June of this year, experts said that whilst risk is a factor that goes into setting insurance prices, they found it disappointing the most vulnerable in society are charged more for their car insurance. They said: "A person of retirement age can expect to pay almost double that of a homemaker, while those who are not employed due to a disability or illness will pay over £830 more for their car insurance."

2. Education – Student nurses are charged the most for car insurance

It's no surprise to learn that nearly all students have a higher insurance price than those in a full-time job. They add: "What is unusual is that many of the students that you would typically consider to be more responsible are charged higher prices.

"For example, a student nurse living away from home can expect to pay almost £400 more than an undergraduate student living in uni accommodation. Similarly, an undergraduate student living at home will be charged just over £250 more than a school student."

3. Driving licence Type – EU licence holders charged over £1,400 more for car insurance

According to the experts, a full UK licence will result in cheaper car insurance in the UK compared to an EU licence however the price gap is "significant". This is due to "EU licence holders being charged over £1,400 more than UK full licence holders."

They continued: "It stands to reason that car insurance for those with a UK provisional licence is more expensive than those with a full licence, but it’s surprising to find that UK automatic licence holders are expected to pay almost £700 more. With the change to electric vehicles that are all automatic, this discrepancy in price appears outdated."

4. Additional driving qualifications can increase your car insurance quote by over £450

You may think that it's the opposite but as it turns out, people who have additional driving qualifications may actually be paying more. Experts revealed that instead of being rewarded for their extra knowledge, they can expect to pay over £450 more than a driver holding a standard UK licence.

5. Medical conditions or disabilities can increase car insurance by up to £865

The DVLA state that you must tell them if you have a driving licence and you develop a ‘notifiable’ medical condition or disability or a condition or disability has got worse since you got your licence.

Notifiable conditions are anything that could affect your ability to drive safely. They can include:

Diabetes or taking insulin
Syncope (fainting)
Heart conditions (including atrial fibrillation and pacemakers)
Sleep apnoea
Epilepsy
Strokes
Glaucoma

The car experts add that reportable medical conditions or disabilities can increase the cost of your car insurance where it's estimated that those affected will be expected to pay an additional £460. If the DVLA hasn’t been made aware, the cost rises by another £405.

They add: "There's a surprisingly small difference between those with a restricted licence and those that haven’t made the DVLA aware. If the DVLA is aware and has restricted your licence, you only save £25 compared to if you’d never declared your condition or disability at all."

In a warning on their website, the DVLA state: "You could be fined up to £1,000 if you do not tell DVLA about a condition that might affect your ability to drive safely. You could also be prosecuted if you have an accident."

6. A bad insurance policy history can cost you over £1,000

Sadly if a motorist has ever had an insurance policy declined, cancelled, voided or had special terms imposed, in the future this could cost you. Specifically, it could total over £1,000 to insure your car with experts stating that the insurance company may see you as an "unreliable customer" and as a result, they will impose a large penalty for taking you on as what could be, a risk.

7. Criminal convictions can add £1,000 to your car insurance

While it's expected that having a criminal conviction - or more than one - will result in a higher fee for your car insurance, "unspent non-motoring-related criminal convictions" will also push prices up and not just what's happened on the road. The penalty for any criminal conviction is a rise of over £1,000 to insure your car.

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