expensive car insurance – CompareInsurance.ae Blog

If you imagine what the most expensive car to insure would be, what springs to mind? If you thought of a Ferrari or Porsche, well done. Even though the top eye-watering car insurance bill is changeable, you can be sure that Tesla and Mercedes-Benz will also be on that list. Extra bonus points to anyone who pictured a BMW i8. The consensus of the wise (well, the internet) seems to be that this super-fast vehicle is top of the list when it comes to the most expensive insurance premium.

Why is this?

Alongside its wallet-emptying friends, the BMW i8 is very, very expensive. Prices vary but hover around the £100,000 mark. The car insurance premium needs to be high to cover the cost of replacing the vehicle if the worst were to happen and it was damaged, or written off, in an accident.

What would make the car insurance even more expensive?

To afford such a fancy car, the chances are that you are well into grown adulthood. The younger you are, the more statistically likely it is that you are going to be involved in a car accident. So, if you really want to ramp up the cost of your car insurance go out and buy one of these sports cars for an 18-year-old.

Could the premium get any more expensive?

So, you have a very expensive car with an inexperienced 18-year-old driver at the wheel – what else would ramp up the insurance cost? If the teenager used the car for work, for example driving all around the country as a salesperson, this would significantly increase the premium. Purely for the fact they are more likely to have an accident as they are using the car more than average.

Surely that’s it?

Well, almost. Just one more thing. If the teenage travelling salesman lived in a high-crime area and parked the vehicle on the street, the premium would likely skyrocket even higher. Fortunately, these scenarios are unlikely to occur altogether.

Whatever your circumstances, be sure to get vehicle insurance online and compare the insurance market carefully on a reputable site such as www.compareinsurance.ae

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It’s always handy to secure cheap car insurance. However, there are additional benefits for those who are young drivers. This includes those who might have only just learned to drive and are looking to get out on the road for the first time. In particular, many teenagers would fall into this category. Let’s look at why it’s so important for young drivers to find cheap car insurance.

Staying responsible

Sadly, expensive car insurance only increases the likelihood that young drivers might neglect their responsibilities as a car driver. After forking out so much on the insurance, modifications – such as having the car serviced and keeping in a good condition – might fall on the backburner. This is a terrible habit for young drivers to fall into, especially since it risks the safety of other road-users – not to mention their own safety too! Meanwhile, cheap car insurance allows them the ability to stay responsible and keep their car in great condition.

Gaining experience

Car insurance is the first hurdle that young drivers have to jump before getting onto the open road. Therefore, it doesn’t bode well if they end up paying an unnecessarily extortionate amount. The cost might reduce their ability to be able to run the car because they can’t afford fuel. In the long-term, this means that they aren’t able to get the continued experience that will make them better drivers and less likely to be in an accident.

Financial stability

More expensive car insurance providers won’t just leave young drivers with a hole in their bank accounts but also risk thrusting them into a position of financial instability. Of course, this comes at a time in their lives when a lack of money might be particularly restrictive for their future – including taking certain jobs and pursuing educational opportunities. Of course, these are unnecessary sacrifices to make when you consider that it is possible to obtain cheap car insurance.

What can you do?

The most effective way to secure cheap car insurance is by using Compare Insurance. This service can benefit all road-users – from more experienced drivers to those new to life behind the wheel. Check out our site for more information.

Photo: Free image by Pixabay