What factors affect the cost of my insurance premium?

The cost of your insurance premium is influenced by several factors. Firstly, the type and level of coverage you choose have a significant impact. Comprehensive coverage is usually more expensive than third-party, fire, and theft coverage. Additionally, the insurance premium is determined by your personal circumstances, such as your age, claims history, and driving experience. Young and inexperienced drivers often face higher premiums compared to seasoned drivers. Another critical factor is the type of vehicle you own, as luxury or high-performance cars may lead to higher premiums. The location where the vehicle is kept and driven also matters, as areas with higher crime rates or accident frequencies incur greater risks, thus increasing premiums. Lastly, optional extras and add-ons like roadside assistance or windscreen coverage may also affect the overall cost.