tips for buying used cars and cheaper insurance

 

• 1. Type of car

  Don't choose a high power engine, or luxury car as your first vehicle. These types of car are typically more expensive to insure, especially for young and 1st time drivers. We'd recommend buying a car that has a smaller engine size, and is of a standard model, and free of modifications. A 3 or 5 door hatchback with approximately a 1 Litre capacity, or a car in a lower insurance group may be best for you (see www.parkers.co.uk for groupings).

• 2. Value of your car

  The lower the value of your car, the cheaper your car insurance is likely to be. Don't go out and buy the biggest flashiest, most expensive car you can afford. If you are reading this article, you're looking at ways to save money. High value, flashy cars are considered a high risk. Again if you keep to a good, reliable second hand car, that doesn't cost the earth, this will help reduce your premium. (See suggested cars in point 1.)

• 3. Type of cover

  Get third party fire and theft cover. Third party cover is the minimum amount of cover you need to have to legally drive on the road. This type of cover will protect you against damage to other people's property or injuries you may cause to them.
  Third party fire and theft also covers you for loss or damage caused by fire or theft to your own vehicle. It does not cover any accidental damage you may cause to your own vehicle.
  Comprehensive cover is a bit more expensive, however in addition to what is covered by third party fire & theft, it protects you for accidental damage to your own vehicle.

All above are subject to the terms and conditions of the policy.

• 4. Keep a clean licence

  Be sensible and drive safely, and avoid penalty points or convictions. Any points or convictions relating to dangerous driving will undoubtedly influence your premium. Never ever drink and drive, or speed. A young driver with any of these type of convictions on their record, is likely to find it impossible to get insurance and if they do, it’s likely to be so expensive that it won't be worth your while.
  If you keep accident & claims free for the duration of the cover, when you renew your insurance you will be entitled to a 'No Claims Bonus' discount for the previous year of safe driving up to a maximum of 5 years.

• 5. Choose your drivers carefully

  When you are getting your insurance quote, it may be cheaper to limit the cover to yourself. However, you may be able to add named drivers to your quote at no extra charge! The way it works is if you are the highest risk driver, adding other drivers of a lower risk will not bump up the price. Why not price adding your parents to your policy? It’s certainly worth a try – we all like getting something extra for free!

• 6. Keep the cover basic

  As well as limiting your cover to Third Party Fire and Theft cover, you can keep the price lower by not adding any additional extras on, such as windscreen cover or legal cover. Of course, they don’t cost very much anyway, but you may be in a position where you want the most basic cover for the cheapest price. Don’t forget, we have some great benefits included in all of our policies which won’t cost you an extra penny!

• 7. Keep your mileage low

  The less you drive, the less of a risk you are. It is only fair that offer a cheaper price to those drivers who aren’t on the road as much as others.

• 8. Pay in full for the lowest price available

  This will mean no monthly payment charge. If you are lucky enough to be able to pay in one go, do that! It’s cheaper after all.
  

• 9. Avoid Modifications

  Modifications which increase the performance of your vehicle are likely to increase the insurance premium. By avoiding changes such as engine modifications or a lowered suspension, you can keep the price of your insurance down. Of course not all modifications will increase your insurance premium. It is best to check with us if there will be an increase before you go ahead with any modifications.

• 10. And finally...

  Getting insurance cover for the first time can be a costly business, so if you adhere to this advice, you can reduce your insurance premium. Remember, that driving without insurance is illegal, and if you are involved in an accident that is your fault, you will have no protection against the unlimited expense involved, not to mention the legal consequences of not having insurance cover.

• Its not all doom and gloom, if you start driving now and begin to build up a history of accident free driving with no claims, it won't be long before you will have a good driving record and a 'No Claims Bonus' entitlement that will dramatically reduce the cost of your cover.

 

Courtesy: quinn-direct.co.uk

 

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