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Car Insurance

Shop around for car insurance. You can use comparethemarket.com , confused.com and moneysavingexpert  and other comparison sites to compare deals. However, make sure you check the details of each policy. Prices may not always be accurate and policies have different levels of cover.

You may find some great deals and freebies by searching online and checking out individual company’s websites. Phone operatives may have the ability to negotiate the price of their quote, so if you haggle using details of other deals you have been offered, they may drop their prices to avoid losing business.

Types of Cover

Third party & Third party fire and theft 

This covers you, passengers in your own car and damage to other people’s vehicles only. Fire and theft includes cover if your car is stolen or set on fire.

Fully comprehensive 

Includes cover for damage to your vehicle if you cause an accident and also covers accidental damage and vandalism. If you have one of these policies you can also drive hire cars and other people’s cars without extra insurance.

As with all insurance the less cover you have the cheaper it costs. So figure out what you need and then find the policy

Claims/ Excess/ Bonuses

Depending on your policy, you will surely have to pay an excess when you make a claim after an accident, but you will also lose your No Claims Bonus, which will increase your insurance when it comes o renew

Payment & renewal

Pay in full if you can. The insurance company will add extra money for paying monthly and buying over the internet could save more money.

Follow the same procedures as when first buying insurance for when you renew, as going with the same company as a new customer can bring extra benefits and a cheaper price.

Younger drivers

Young drivers 18-25 will generally have higher premiums, so try to find insurance companies that will cater for your age group, such as 4youngdrivers.co.uk, onlyyoungdrivers.co.uk, co-operative insurance and Swinton.

Tips for reducing insurance premiums for young drivers

References:

Endsleigh

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