If you’re currently looking for Uber insurance quotes then knowing what factors affect the cost is very useful since it could save you money.
Below are some of the biggest factors that affect the cost of Uber insurance.
The level of cover you get
The level of cover you take out is a very obvious factor in how much you’ll pay for Uber insurance. You can choose exactly what level of cover you want from the following options –
- Third party
- Third party, fire and theft
There are also additional types of cover you can get, including –
- Breakdown assistance
- Legal expenses
- Windscreen repair
- Vehicle replacement
The insurance provider
The insurance provider you go with will of course determine how much you pay too. This is why it’s always recommended that you get as many quotes as possible.
The value of your vehicle
The value of the vehicle you’re insuring will always have a big impact on how much you pay. Although you’re able to use your own car when working as an Uber driver (providing it meets Uber’s requirements) it’s not necessarily practical to use a luxury vehicle since insuring it will be significantly more expensive.
How secure your vehicle is
You should take any steps you can to make your vehicle more secure since this is a big thing that insurance providers will take into account when coming up with a price for your policy.
By investing in security devices you can help to reduce the likelihood of your vehicle being targeted by thieves or vandals and therefore lower the cost of your policy too.
Where your vehicle is parked
Where your vehicle is parked will certainly be taking into account by insurance providers. The ideal would be to have a securely locked garage to keep your car in when you’re not working. A driveway is another good option too. If you have to park your vehicle on the street then you’ll still be able to get cover at an affordable rate but you’ll pay more than if you had a garage or driveway to park it on.
Your no claims bonus
Your no claims bonus will certainly affect how much you pay too. If you’ve built up a good NCB of 5 years or more then you’ll certainly receive a considerable discount with most insurance providers.