Less desirable and low value cars are cheaper to insure
After i was 17 I wanted to possess a Ferrari and exist within the fast lane. Even when I could have afforded the car, then I couldnt have afforded the insurance to cover it. At 17 you are completely new to everything about driving and statistically youre more prone to make an insurance coverage claim. Mixing high-powered cars with inexperienced drivers is not something car insurance companies are super-keen about, the risk of a claim shoots over the top using the price of the premium following it. When youre young and inexperienced, purchase a low-powered, low value car to try and keep your auto insurance premium to a minimum. If it is worth less it will cost less to fix/replace when in your youthful exuberance you crash it. Exactly the same logic actually applies to everyone, the low the value of the vehicle and also the lower the car insurance plan come in many instances. Sports and premium cars will invariably cost more to correct in an accident so the insurance will be affected by it. New cars now feature myriads of anti-theft and driver aids that in many cases will help to lessen the cost of insurance so keep close track of the spec sheet when looking at a brand new car. A good rule of thumb is that less desirable and low value cars are less costly to insure.
Age is a concern
I mentioned it above and it bears repeating. Generally the younger youre the higher your vehicle insurance premium. This really is right down to inexperience and the youthful belief that bad things will never take place. The data say otherwise, which is often a surprise for an unsuspecting young driver who results in an accident wondering the way it happened to him?Driving experience and age are often linked and that creates a method of reducing your insurance premium - whatever age youre youll benefit from courses in advanced driving and several car insurers offer discounts for these qualifications. It may only be a five - 10 % saving for the course but on the premium of ?1000 its worth getting the saving and it will remain with you for years, therefore it should be a great investment, not to mention cause you to a better driver.
Keep contributing to the no-claims bonus
The greater years you are able to accumulate without making a claim the greater as most car insurers will offer a discount on your insurance for this. Effectively you are proving youre good business to have and because you havent made any claims then you are a great risk to allow them to underwrite. Theres nothing you can do here but keep your nose clean and dont claim. Should you own a low value vehicle and dent it parking, youd be advised to not make a claim on comprehensive insurance since it would reduce your no-claims bonus, apt to be for any small amount of money and you may even wind up spending money on most of it based on excess. In that case, provided you havent caused damage to every other vehicles or property, keep quiet, repair it yourself and your saving on no-claims bonus will be sweet the year after - in time, when you have developed three or more years no-claims bonus, you can actually protect your bonus, meaning even if you make a subsequent claim you wont lose your bonus.
Convictions arent cool
If you are an inner-city teenager then an ASBO may be a badge of honour. Insurers are less astounded by convictions though, so its best to prevent them if you can. Minor speeding offences arent in the same category as serial killer though, so if you have a handful of points it will not be the end of the planet or have a major affect on your premium with respect to the insurer.
If you have a garage, utilize it
What are garages for? If you ask an average joe theyll probably say for storing all of the kids toys, the house gym, bicycles, the freezer and tumble-dryer. I have news for you personally all; the garage is designed to house your automobile when you are not using it. The truth that it puts a physical barrier between any opportunist thieves as well as your car is a real good thing and car insurance companies will recognise this and reduce your premium if you park in a garage overnight. Making use of your garage will save you money; it does not get any easier than that.
Anti-theft devices
Most contemporary cars come with immobiliser and alarms factory fitted and if you notify your insurer it will check to make sure theyre to approved standards and will apply discounts if applicable. You will get other devices that slosh around within the passenger footwell until you park and then fix to generally your controls or gear-stick. These are mechanical devices and some do attract further discounts if used, simply do your research before buying. Thatcham is the organisation which grades security devices and generally a good mechanical security device will feature its Thatcham approval very prominently along with any premium discounts you could expect, so choose carefully.
Use a reputable broker
Car insurance is extremely big business with around 30million+ vehicles on the UK roads, so there is a wealth of auto insurance companies to choose from. Ironically, the big names you are acquainted with are most likely in your mind because of massive marketing campaigns on tv, on-line etc. Whatever the message, those marketing campaigns have to be paid for and that means they may not have the very best rates, although the sheer scale of some of these businesses means prices will be keen because of buying or underwriting power. The best advice is to compare a few different prices from different companies. Call the insurer and then call a comparable competitor after which perhaps a small auto insurance broker. Each one of these asks you for those who have a price already and you should tell them what it is. Generally if they want the business they are fully aware things to beat. As soon as you receive a broker saying they cannot match the price then you are probably near to the best market price otherwise talking to a broker that isnt a professional in the area.
A word of caution in price comparison sites
There are plenty of price comparison sites around which promise to drive the price of your insurance policy down - Money Supermarket, Go Compare, Confused etc. They certainly do reduce the cost of insurance as the majority of the major players are fighting for business on the same platform. Where these price comparison sites dont perform so well is really advising yourself on the type of policy thats good for you or your car. Would comprehensive be cheaper and much more suitable than third party fire and theft? The point is you cant ask the price comparison site for any advice, this is where car specialist brokers have the edge. Compare it to purchasing a new house, can you buy one without a survey? You might after which when it subsides into the sea youll be praying your insurance will cover it?the thing is you should not buy insurance without speaking with a specialist either.
Pick up the phone
The web is a superb shopping and selling tool, you know my feelings on that from previous articles?however i suggest should you make contact with a real person in a brokerage then youve a far greater chance of getting cheaper auto insurance. They can ask more questions, clarify your requirements and when needed they even delegate the rate (set the cost themselves) when they really want the business. There isnt any substitute for contact with others, just be sure you speak to at least three different brokers to get a true comparison.
Got a pleasant postcode?
If you live inside a postcode where there are few thefts and claims your insurance premium will be less than living somewhere thats a known crime hotspot. If youre able to afford it, move to a posh area and you will benefit from lower insurance premiums. Not the easiest way to save on the cost of insurance for sure?
Mileage and employ
The more miles you drive the more chance you have of being involved with claims. Its simple statistics. The fewer miles covered, the less your insurance premium should cost. Dont tell lies though, if you exceed the stated mileage by a distance then it could invalidate your insurance.
Married with kids?
Insurers like selling auto insurance to married people mortgaged and with kids and jobs. You are super easy to credit check and usually display responsible behaviour which hints at a lesser risk for that insurer. That can reduce your auto insurance quote.
Dont modify your vehicle
We all begin to see the bling bling cars that haunt Supermarket car-parks late at night and whether you want the tacky neon colours and loud exhausts is neither here nor there - the fact is that any kind of modification will probably hike your car insurance premium. Modifications can draw attention, invalidate warranties and in the situation of loud exhausts, can also be illegal (if above the noise limit). If illegal, it could invalidate your insurance as well. The fact is that car manufacturers spend a lot of time developing many so that they work well and when you modify them then it is all out your window and your insurer is going to be scratching his head wondering what he should charge - and it will almost always be more than a standard vehicle.
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