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Car insurance premiums continue to rise from year
to year and the need to
shop around for the best deals is greater than ever. Just by comparing a handful of insurers, you should save yourself a
reasonable amount of money. Furthermore, buying your insurance online can
bring you additional discounts.
Before comparing car insurance quotes and locating the best deal for
you, it is important to be prepared.
Calculate a realistic value for your car
Firstly, calculate a realistic value for your car as insurers will only pay the market value if the car is stolen or written
off. If you state an over-optimistic value for the vehicle, you might have to pay higher premiums than necessary.
Calculate your mileage
The higher the mileage, the more expensive the car insurance premiums. You
should be realistic about who will drive the vehicle. Rather than needlessly opting for an "any driver"
policy, restricting cover to named drivers only will cut insurance costs dramatically, Parking
It
is also important to consider where the vehicle will be parked.
Parking your vehicle on the roadside will mean higher premiums that
parking the vehicle in an off-road garage.
Small Print
When you're comparing quotes check
the small print to see whether a courtesy car is laid on if your
vehicle is off the road, whether you are covered for loss of keys and if any repair work is guaranteed.
Do you need fully comprehensive cover?
For most drivers, a fully comprehensive insurance policy offers the best peace of mind, as it covers you against any damage caused both to your own and to any other vehicle involved in an accident. But if you are driving a cheap old banger, it may not be worth insuring for the repair of your own vehicle, so a third party, fire and theft option might be the best value choice.
Try to avoid losing your no claims bonus
If an accident is your fault, it might be worth
paying to have the damage repaired out of your own pocket, rather than risk losing a
no claims bonus. A five-year no-claims bonus will typically reduce
premiums by 65%.
Look out for specialist deals
Specialist insurance deals are available for women, pensioners, and motorists with particularly good
or bad track records. However, don't take anything for granted, you
should still shop around non-specialist motor insurers as well. On average, women pay £70 less a year on car insurance premiums
than men as men are responsible for 97% of dangerous driving offences and 83 per cent of speeding convictions.
Driving carefully can save you money
It certainly pays to drive carefully. Breaking speed limits may cause premiums to rise by £65 and £25 a year for men and women respectively for a first offence.
Lower premiums for small-engine cars
Lower premiums tend to be offered for small-engine
Group one cars such as Fiat Pandas, Citroën 2CVs and Vauxhall Corsas. However,
driving a Ferrari, Porsche 911, Aston Martin, BMW M series or Audi TT Roadster
will put you into Group 20, the most expensive insurance rating for a vehicle.
Secure your vehicle
Fitting a tracking device or immobiliser can help whatever vehicle you drive. Satellite tracking systems cost at least £300, but insurers will offer discounts of up to 15% for approved systems.
Newly qualified drivers
If you are aged under 21, then expect an high first-year motor premium of more than £1,000.
If you don't claim on your insurance during your first year, the price can
fall by almost £250 the following year.
London life at a cost
Also, consider where you live. A motorist living inside London's congestion zone can pay more than £800 for a typical policy, while the average premium outside London is £455.
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