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Car Insurance

Four ways to drive your car insurance cost down as an experienced driver

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Average car insurance cost can be yet another of those annoying costs that come out month after month, stopping you from diving into your next favourite hobby or taking that holiday you’ve wanted for ages. Here are a few ways to reduce your car insurance bill and free up some money to be better spent on you.

Pay Annually

Paying for your car insurance monthly is effectively taking out a loan. You’re spreading out what would be an annual cost into twelve, but when you pay monthly you also cover an interest payment sprinkled on top. Although you’ll only save a few per cent this way, if you’re saving the pennies then the pounds can look after themselves.

Only pay for what you need

Some people, when looking at car insurance, will consider going for a selection of fun features that they just don’t need. For example, if you were to go for “Enhanced Breakdown Cover” with a brand new car, it might not be required and could be a significant added cost to your car insurance quote. If you only get what you need for you could save a significant amount of money year on year.

Don’t modify your car

Whilst modifications like a louder exhaust, changed bodywork or a tuned engine might seem like a fun idea at the time, they can often come with high insurance costs. This is because modifications can often be done by dealers that are not certified or are seen to be unreliable. Whilst you might enjoy having a modified car, you might have to consider if the insurance cost is worth it.

Shop around

A lot of the time, you won’t find the best deal in the first place you look. It’s always best to shop around to try and find the ideal plan for you at an affordable price. If you’re interested in the best place to compare and contrast car insurance quotes, just visit Compare Insurance. We have a wide range of car insurance companies and quotes available, so we can help you to find the perfect deal.

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Car Insurance

Important factors to consider when looking for car insurance as a new driver

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So you’ve passed your test – congratulations! However, for some newly qualified drivers, the realisation of how much car insurance can cost comes as a shock to the system. If you’ve so far got by on temporary coverage, or been added as a provisional driver to a long-standing insurance policy on a parent or friend’s vehicle, you may now be facing the unexpected challenge of finding a online insurance that covers you on your own vehicle.

Size really does matter

One key factor in determining the cost of insurance premiums is the engine size of the vehicle. So if you haven’t yet bought a car, make sure you research the comprehensive insurance costs of all the options you are considering. Even cars that at first glance seem similar may have noticeably different insurance premiums due to just a small variation in engine size.

More mods mean more money

Although it might be tempting to raise or lower the car or add alloys or larger wheels, this may not be a great idea. Insurers do not tend to look favourably on modifications. They can noticeably increase the cost of insurance, and failure to declare modifications that you have made can render your insurance invalid, so take great care when making changes!

Mind the gap

A final factor to consider is whether the full value of your car would be protected if you were to have an accident that wrote the vehicle off. New vehicles lose a lot of their value in the first year. This depreciation means that if a car is damaged in an accident, and the insurance will only payout on the current value, you could stand to lose a significant amount of your initial investment. This can be particularly problematic if you have bought your car on finance – you could end up with a big bill, which would not be entirely covered by the insurance payout.

This is where a relatively new insurance product, gap insurance, comes in. Designed primarily for new drivers and nearly new cars, this insurance will cover the difference between any outstanding finance payments you owe on the car, and the payment from your main insurance policy. For new drivers with new cars, this is definitely a factor worth considering.

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Categories
Car Insurance

Why it’s important young drivers find cheap car insurance

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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.

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