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Top Tips and Hints |
The Insurance Boffin’s Top Tips for Cheaper Car Insurance!
Follow these tips to help reduce your insurance premium: · The golden rule in getting cheap insurance is to get lots of quotes! It pays to shop around! · When deciding which car to buy, check the vehicles insurance group as the lower it is, the less it will cost to insure. It doesn’t necessarily follow that an old, cheap car will cost less to insure, as it’s the vehicles power to weight ratio that governs its insurance grouping. Go for smaller vehicles with a lower engine capacity. · Remember to shop around for an insurance quote before you purchase a vehicle as there may be significant differences in insurance premium between what you think are similar cars. · Do not modify your vehicle. It’s fairly obvious that performance enhancing modifications will increase your premium, but cosmetic modifications will make the vehicle more desirable and likely to be stolen. · Increase your voluntary excess. This is what you will have to contribute in the event of a claim and may already be fairly high. If you are prepared to increase it further, you could receive a discount on your premium. · Build up a No Claims Bonus (also know as No Claims Discount – NCD). This is a percentage reduction in your premium that insurance companies reward you with for claim free driving. It increases each year and will start at around 30%, so it’s a good incentive to drive carefully. Most policies only give a bonus to the main driver on the policy, however some insurers have now started offering it to all named drivers. · Don’t speed and drive legally. Points on your licence mean pounds on your premium. If you’re a young driver or have recently passed your test, you will now be made to re-take your driving test if you gain 6 points on your licence within 2 years of passing your test. · If you don’t have your own vehicle, get someone to add you to their policy e.g. your parents. In years gone this may have been a way to reduce your premium, however, insurance companies now rate on the youngest driver, so this may be a false economy. You may also not accrue any bonus as a secondary driver. · Have an older driver, such as your parent on your policy. Insurers are now very wary of this type of practice, as sheltering behind an older driver is known as ‘fronting’ and if you are found out can invalidate your insurance. · Take the Pass Plus training program organised by the Driving Standards Agency (DSA). This is designed to make you a safer driver and some insurance companies recognise this by offering a lower premium.
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The Insurance Boffin E-mail: info@insuranceboffin.com Disclaimer: Any information, advert or link contained on this site does not amount to advice, suggestion or a recommendation in any manner or form. |
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