What is an risk address?
Where you park your car and where you live make a lot of difference and affects the premium of your car insurance. The cost of the insurance will be higher when the area you live in is rougher. The insurance companies call the place you park your car most of the times in a year as the risk address. With other words, where the car is parked during the night.
Where you park your car affect your premium
You can park your car off street parking or on the drive way and off course in a garage. The insurance companies will increase the insurance quote if you park the car off street parking instead of your garage.
They check the city centre postcode
Certain areas have more crashes. Your premium will be cheaper on the countryside compared to the city centres. The insurance companies dislike if your car is parked outside. They considered it to be more dangerous due to the risk of damage to the vehicle.
Wrong risk address can invalidate your insurance policy
Let us give you an example. Let's say you work day shifts but you decided to work night shifts instead. You continue to use your car as usual. The problem now is that your car have changed it's risk address. Remember the risk address is where the car is parked during the night. So if anything happens to the car now and you contact the insurance company, they can invalidate your insurance policy just because you forgot to tell them that you have changed the risk address.
Can the insurance documents be in one person's name and the car registration documents in another person's name?
The holder of the car insurance policy address is the risk address. But remember, the owner of the car could live somewhere else. So with other words. You can have the car insurance policy in another person's name who live somewhere else.
Consider investing in a garage
To reduce the cost of your car insurance, we recommend that you lock your car in over night. If you don't have a garage, we suggest that you build one. You protect your car at the same time as you bring down the cost of your car insurance premium.