How to go
about getting car
insurance for the first time
The first time car buyer faces
several obstacles to low cost car insurance. He or she is often young.
Drivers under the age of 25 are classed as high risk by car insurance
providers and this automatically increases the cost of cover. Even
if you're not as young as this, the new driver, being
inexperienced behind the wheel, still faces a higher premium to take
account of their increased risk to the insurer. In addition, your first
car insurance policy comes without the savings of a no claims disocunt;
so you have to pay a hefty premium.
In veiw of all these aspects that will push up the cost of your first
time car insurance cover, it is worthwhile manipulating all that you
have control over to reduce the cost as much as possible. There are
several things that you can do as we'll outline here. Not all will be
possible, but, clearly, the more that you can put in place, the better.
The most important single intervention is to buy an economic car to
insure. As well as the general economies of a more modest car, you can
certainly save thousands if you're not too extravagent in this
department. We suggest cars that are less than Thatchem group 10 (of
the 1-50 rating system that all insurers have to take account of in
setting prices). Examples are the Corsa or Clio.
Next, you may wish to increase the voluntary excess although it's not
wise to overdo this for obvious reasons. If you anticipate a low annual
mileage, declare this on the quote form. If you have an over-25 that
could drive the car from time to time, include them as a second driver.
Don't list such a person as the primary driver when they are not. It is
seen for the fraud that it is very easily by insurance providers if you
claim and it will invalidate your cover. And, while we're on what not
to do, don't take out third party cover in an attempt to save money. It
leaves you and your passengers uncovered for personal injury where you
are responsible for the accident.
Further interventions include rendering your car safer by adding
security enhancements - ask your dealer which Thatchem approved devices
are suitable for your car and would reduce the premium. You can always
check his advice online before purchase.
Out-of-car security - ideally garaging overnight - also merits
consideration. Do you know someone who might be able to help in
relation to this if you don't need to use your car all the time? This
is especially important if you live in a high risk (typically
inner-city) area.
After your choice of car, the most important further manipulation is to
take a very practical approach to the cover you select. The first time
car insurance policy is not the time to go for sophisticated cover. It
is a time to go for more basic, no frills types of policies. This does
not mean that you should neglect what you're getting in favour of a low
price, however. Usaully the cheapest car insurance found on a price
comparison site is better avoided as it is a compromise too far on
cover.
That is not to say that a price comparison site is not a good resource
for this group, it is. You just need to check over the cover in advance
of purchase.
For those under 25 we can also recommend the broker Endsleigh for young
driver car insurance.
For the car enthusiast interested in improving their driving skills, an
advanced driving test will also reduce the premium.
To compare
car insurance
easily and/or check out Endsleigh, you can use this handy online
service.
As shown above, there is much that you can do to reduce costs when you
buy car insurance for the first time. More..
|