- It may be worth considering a lower valued car as these attract “an age of car discount”. Once you have a full year under your belt and are then eligible for 1 year’s no claims bonus, your premium will start reduce substantially.
- If you do opt for a lower valued vehicle it may be cheaper to insure on a comprehensive rather than on a third party basis. Your policy will probably be subject to a excess. This means that in the event of an accident you will be responsible in paying the first £100 or £200, should your cover be comprehensive. If your vehicle is stolen the excess will be deducted from the settlement cheque from your insurers. You can request a higher excess or voluntary excess, which will reduce your premium.
- Insurers pay claims on what is the current market value – not what you paid for it. So being realistic on the value of the vehicle can only make sense. Parkers Price Guide would be a useful guide to help you with this.
- If you are a young or inexperienced driver, obtaining “pass plus” will help reduce your premium by as much as 30%.
- By naming your spouse or partner as a named driver can also reduce your premium, sometimes by more than having it for yourself only to drive.
- Also be clear in specifying who the main user will be, particularly if the main user happens to be a young driver.
- Having an immobilser fitted will attract a discount. Also if you can prove claim free driving on a company vehicle or a named driver on a friend or relatives vehicle, this will also attract an introductory discount.
Please note the importance of the declaration and signature on the proposal form as failure to disclose facts material to the insurance or any inaccuracies in your answers could invalidate cover.
If you are unsure on any of the above points raised in this article or have any other queries relating to motor, home or liability insurance, please feel free to contact us or choose one of the following options to receive a quote: