Don’t expect cheap cover, but there are steps you can take to make insurance affordable.
DO…shop around. You might think that entering your details into a price comparison site is enough, but some leading insurance companies aren’t on price comparison sites. It will mean a bit more form filling or time on the telephone, but if you get the right cover at the right price, it has to be worth a little effort.
‘’Pick up the phone. Getting a quick quote over the internet is easy, but it’s often worthwhile to talk over your options with a real person rather than a computer screen.’’
DO…pick up the phone. Getting a quick quote over the internet is easy, but it’s often worthwhile to talk over your options with a real person rather than a computer screen. If you find anything about an insurer’s online form confusing, a phone call should put you straight and avoid making a mistake with your details which could come back to bite you when you make a claim.
DO… think about black box insurance (also known as telematics insurance). With a black box policy, a device is installed in your car to report back to your insurer. Drive well (obey the speed limit, no harsh acceleration of braking) and you can expect to be rewarded with a lower premium. Drive badly (for example, speeding or driving aggressively) and your premium could go up. As a rule, though, black box insurance works out much cheaper for new drivers than a conventional policy.
DON’T…lie to the insurer. What seems like a little white lie to cut the cost of cover is actually fraud and could mean the insurer won’t pay out if you need to make a claim. So be scrupulously honest about your age, driving history, where the car is kept, and who the main driver is (pretending your car is really mum or dad’s is called fronting, and it’s illegal!).
DON’T… simply choose the cheapest policy. Look closely at the excess (how much you’ll have to pay out yourself if you claim), any limitations on mileage, or other restrictions. Check whether you are entitled to a replacement car while yours is being repaired. Weigh up what you get for your money before deciding which policy is right for you.
DON’T… modify your car. Bigger alloys, tinted windows, lowered suspension, or an uprated stereo may be very tempting, but many young driver specialists won’t cover modified cars. And if they do, you can bet you’ll have to pay a lot more for the privilege.
Top ten tips to reduce your premium
- Shop around to get the best price and deal on offer
- Try to price match, playing off one insurer against another for the best deal
- Speak to your insurer on the phone, often better rates are to be had versus online
- Keep the car garaged, rather than on the street
- Fit a black box
- Consider a larger excess
- Fit a security system – and use it
- Don’t claim for small things – you need to build up a no-claims bonus
- Leave your car as standard. Don’t fit a big stereo, spoilers or flash wheels.
- Opt for a limited annual mileage policy.