Insuring a car can be an expensive ordeal nowadays, especially for younger motorists. However, there are numerous ways to save money on car insurance and find cheaper car insurance quotes.
Firstly, you should consider the type of car you're looking to insure and what price you can afford to pay. Things to bear in mind are the car's insurance group, model, age, engine size and security features. You should also consider the reliability of the vehicle you're going to be using on the policy.
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Secondly, you need to find the cheapest car quotes by doing price comparisons. A great place to start is by using online comparison sites such as "Confused.com" or "MoneySupermarket.com" to get the biggest discounts on vehicle cover. When choosing a car insurance policy cut out any unnecessary extras. For example, if third-party cover is sufficient there's no need to pay more by going fully comprehensive. Avoid any modifications to your vehicle that are unnecessary as this will only increase the insurance premium that you're liable to pay.
Newly qualified drivers can lower their car insurance premiums by taking courses such as the Driving Standard Agency's Past Plus course which will demonstrate a higher level of driving competence. Limiting your mileage will also help to reduce your chances of being involved in a motor accident and should help to drive down your insurance costs. You can even consider 'Pay as you go' car insurance where the insurer will fit a tracker to your vehicle so that you're only charged for the miles you actually cover. Insurance providers also prefer drivers who keep their car in a garage overnight which limits the risk of your car being vandalised or broken into.
Building up a no-claims discount will demonstrate that you're a competent, responsible and safe driver who hasn't had to make an insurance claim over the course of a year. After five years of claim free driving you could reduce your insurance premium by as much as 50%.
Funding your car insurance policy with a one-off payment is the cheapest way to insure your vehicle. Payment in monthly instalments will result in interest charges or admin fees. The higher the excess you volunteer to pay should be reflected by how much your car is worth, but by opting for a higher excess you can hope to cash in on a less expensive premium.
Once covered, you can lower your future car insurance costs by driving safely, building up your no claims bonus and avoiding any driving license endorsements.
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