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Insurance is a much misunderstood commodity and perhaps because of this many urban myths have developed, some, on the face of it, fairly believable but many of which are really incredible. For example; many people believe that if they are not responsible for an accident then it will not affect their no claims bonus. Wrong! No claims discounts are no - claim, not no- blame! If you make a claim against your insurance policy you are likely to find that your next premium is a bit of a shock; many insurance companies still operate what is called a knock for knock policy in which each one pays out to its own insured. This means that even if another driver was completely at fault for an accident that you were involved in, you could still find your no claims discount disappearing into thin air.
Some people believe that the colour of a car can affect an insurance premium, based on the fact that it is reputed (and the word is "reputed") to be one of the factors which affects regularity of accidents. Whilst it may be true that someone who drives a shocking pink car with red and purple stripes may well be a complete and utter lunatic and a danger to everyone else on the road, he or she may also be a safe, experienced and ultra-careful motorist. There are many factors that are calculated into the formula for working out your insurance premium, but colour of a car is not one of them!
A huge number of otherwise sensible people blame the government every time insurance rates rise. Unless an actual tax has been imposed on insurance policies or insurance company profits it is the companies themselves that decide what their premium levels are, and they base their decisions upon the costs of meeting average claims and the risk factors of every policy. There are many things that we can blame the government for, but fraudulent claims, high repair bills, acts of God etc are not entirely their fault!
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Another myth is that people whose cars are damaged by natural factors such as hailstones, gale force winds, falling tree branches etc are automatically covered for these occurrences and that in the event of a claim their no claims bonuses will remain untouched. My advice is always to check the policy details because you never know exactly what is hidden in their unless you have already looked (most people never do) but in the vast majority of cases these occurrences are not covered.
Finally, and most importantly, most people think that the best policy is the renewal policy that their old and familiar insurance company is offering them. The fact is that the insurance market is exceedingly competitive and most of the major insurers are happy to accept a far lower premium from another company's customers, in order to convert them into a customer of their own! It is therefore extremely common for large introductory discounts to be offered to entice people to switch from one insurer to another. A wise shopper compares lots of prices before making any decision; this is easy to do with insurance because nearly every insurer has a website which offers fast quotations and sometimes the savings which can be made for just a few minutes work digging out competitive quotes can make the difference of hundreds of pounds in average premiums.