Insurance is one of the biggest expenses associated with running a car. It’s natural, then, that we want it to cost as little as possible.
No specific advice can guarantee a low premium for all, but here’s our general guide on how to – legally – lower your quote. And the things you definitely shouldn’t do…
Buy the right car
This seems obvious and, of course, there’s probably a whole other article here. Generally speaking, the bigger and more powerful the engine, the more expensive the insurance. Likewise, a more prestigious and expensive car will bump up the cost, as will any model considered an accident-magnet. Ask any new driver who tried to insure a Citroen Saxo after 2005.
If keeping costs low is your prerogative, food-blender-powered hatchbacks will be cheaper than gas-guzzling coupes. But for many reading here, that won’t matter. You have your car and simply want the cheapest quote. There is hope for you, though. Read on…
Too many are complacent about car insurance. We don’t put in the legwork, shop around, bounce between providers. That’s exactly what we should be doing.
Get on the price comparison sites but also call up companies directly. It’s mostly up to chance which provider will give you the best deal, so it’s worth talking to all of them.
Get your story straight
There are a number of things you must tell an insurer about yourself and your driving career. These include: how old you are, how long you’ve been driving, if you’ve had any accidents and when, what you do for work, where you live, how much you drive, where the car is parked… All this and more comes in to play.
While you must tell the truth, there is leeway to be explored. Your career for instance, can be listed in a number of different ways. A photographer is a videographer is a multimedia assistant. A bricklayer is a builder is a labourer – and so on. Play with the variables, but don’t stray from the truth.
It’s worthwhile working out how far you drive, too. The number of miles you cover in a year can affect your quote. Lower is better, in most cases.
Different types of policy
There are generally two types of policy: third-party, fire and theft, and fully comprehensive. If your car is worth anything over £500, we’d recommend fully comprehensive.
Third-party policies do not cover the cost of repairing or replacing your vehicle in the event of an accident – only the car or object you crash into. Third-party is often a last resort taken by new drivers to get their premiums down.
Multi-car policies are interesting, however. Whether you’re living with your parents or have flown the nest, they can offer significant savings.
Young drivers can also get on their parents’ policy – fully-comp, with the ability to earn a no-claims bonus – for potentially a lot less than insuring themselves. Likewise, if you live with a partner and you both drive, it’s definitely worth checking whether you can share a multi-car policy.
Get a black box
It’s not the most elegant or convenient of solutions, but having a black box watching your every move behind the wheel often prompts insurers to charge you less. It’s become a mainstay of the newly-passed young driver.
Move somewhere cheaper
Location is a big factor in the cost of car insurance. Maybe you should consider moving away from Carjack Alley and closer to Upstanding Avenue.
Obviously, not crashing is a good thing in general. Never mind the immediate stresses of a prang, for the next three years (at least), your insurance will be more expensive.
All thanks to the no-claims bonus that you shattered – along with someone else’s headlight…
With age and experience come a great many things, including cheaper car insurance. Both 21 and 25 are big milestones when it comes to lower quotes.
If all else fails and you can afford to go without a car, sit on your licence until you’re a bit older. Pass your test as early as possible, though. Remember, they ask how long you’ve had your licence when totting up quotes.
Don’t lie on your policy, about anything – simple as that. Don’t lie about modifications, the miles you’re doing, where you live, what you do, where the car is parked and so on.
Any untruths will invalidate your policy in the event of an accident. It’s not worth the risk.
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