It is an obvious fact that most new and young drivers are on a limited budget when it comes to car insurance so with this in mind this article has summarised 17 handy tips which you should try to consider when trying to find a low cost motor insurance policy.
1. Do some research Try to find insurance company's that specialize in policies for your age, gender, car and occupation. Ask around, people who have the same occupation or car as you could give you valuable information on what insurance will suit you best, and whether the policy they are using is good or bad. Shopping around is probably the best tip you will find and is very inportant if you want to find the best quote.
2. NEVER take the first quote The first quote you get on your car is most likely to be quite high. Insurance companies known that until you have received a few quotes you will not know a realistic one that will suit you. So never take the first quote you receive no matter how good the deal seems.
3. Phone around When you have a few companies that have caught your attention phone up the companies or car insurance brokers (3rd parties who are simply giving you a quote and not actually 'underwriting' your policy) see what quotes they are giving and if they can give any better.
4. Have awareness Those companies who have all this money to spend on advertising probably are not giving the cheapest policies to customers, but the large amount of money could mean a lot more coverage is available.
5. Play companies off against each other Do some research and make detailed notes about all the aspects of each quote you receive, then play the companies off against each other. There isn't much point in lying as most the insurance companies are very aware of the real cost of a car insurance quote. The phone operatives have the ability to negotiate on the price of their quotes and all of them would rather drop the cost than lose good business to a competitor.
6. Mileage Consider how much mileage you are roughly going to do, less mileage means less time on the road which reduces the chances of accidents. A limited mileage policy is a very good way to get better car insurance quotes.
7. No Lying LYING! will invalidate your policy, and most companies record telephone calls to cover themselves against litigation. State all modifications on your car and if someone else is likely to use your auto-mobile and whether you will use it for business.
8. Drive more carefully Not having accidents is very hard to escape but by joining the Pass Plus scheme or by taking an advanced drivers' course, discount offers can reach up to 35% from some of the major insurers.
9. Protect your no-claims bonus - This may increase the premium by a few pounds, but this fades into insignificance against the potential loss of a 60% discount on a premium of several hundred pounds. But the definition of a protected no-claims bonus can vary widely between insurers. Though accidents caused by another driver will normally have no impact on such a bonus, those caused by the insured could.
10. Garage If you store your car in a garage, then your car is a lot less likely to get stolen or damaged, so a good way to bring down the cost is to store your car in a garage but remember lying is a criminal offence and would cause you a lot of trouble.
11. Buy online A lot of insurance companies offer discounts for people who buy online.
12. Voluntary Excess - If you agree to accept a voluntary excess (the amount you agree to pay in the event of an accident), you can reduce your premium.
13. Dont automatically buy comprehensive - If your car has a low value you can save a third off your premium by insuring your car for Third Party Fire and Theft.
14. Named drivers - Adding a named older driver to your car insurance policy, i.e. your parents, can save you 10% on your premium. Likewise, avoid having younger named drivers on your policy.
15. Pay your premium in one go - It is often cheaper to pay your years car insurance in one lump sum rather than in monthly installments. Most insurers charge interest of around 15% APR (some up to 30%) to allow you to pay your premium in monthly installments.
16. Pass Plus - The pass plus examination is for new and young car drivers who have passed their practical test. It is an intensive training course that helps improve new and young drivers abilities on the road. The pass plus allows you to get up to a discount of up 35% on your car insurance. Taking the Pass Plus will cost around 100 but given the high cost of new driver car insurance you should save more than this on your car insurance premium. Ask your driving instructor for details.
17. Work traveling If you do not use your car to travel to work then you might be getting coverage you do not need.
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