How to Save on Car Insurance

by News Guy on October 16, 2012

(Guest Post)

It is widely believed that car insurance can be hideously overpriced. In fact, most people these days are literally priced off the road due to the sheer cost of motoring, which is truly not fair. That being said, there are ways to learn how to save on car insurance, where people can actually find that they save as much as 50% on what they expected to pay, or are already paying. So, you’ve looked around, checked some used car reviews and have found your perfect vehicle. What should you keep in mind to get the best car insurance deal?

The car

The first thing that many people do not seem to consider is the actual car that they drive or the car they are looking to purchase. The insurance group of the vehicle will help to determine the cost of a policy. A car with a low insurance group will be cheap and a car with a high insurance group will be expensive.

There are lots of factors that determine the insurance group of a car, but there are some basics to consider. The value, the top speed, the Brake Horse Power (BHP) and the general styling of a car will have a lot to do with it. For instance a £50,000, 150mph, 200bhp sports car, will be much more expensive to insure than a £10,000, 100mph, and 100bhp family saloon.

Comparisons

When finding a car insurance quote, take a look at online comparison websites. They will offer you the chance to compare up to 100 insurance companies at once. Everyone knows that filling out online forms can be extremely monotonous, but the chances are if you’re looking at individual sites, you will miss out the cheapest website anyway. For this reason, comparison websites are certainly something that should be used. Generally, they will allow people to save up to 50% on their current premium!

Type of policy

There are different types of policies that are worth considering when it comes to car insurance, and they all vary in price. These include “third party” (pays for the other drivers’ car repairs), “third party fire and theft” (same as third party, but includes payment for fire and theft) and “fully comprehensive” (pays for everything involved with a theft, fire or accident. Third party is generally the cheapest option, as it doesn’t cover as much, and being fully-comped is the most expensive. When looking at these options, consider the value of the car and whether or not fully comprehensive cover is really required.

No claims bonus

When purchasing an insurance policy, most insurance companies will ask how many years “no claims bonus” you have. This is extremely important and it will have a drastic impact on the overall cost of the policy. For those that have no claims, they will make huge savings. For this reason, it is always worth “protecting” these no claims, which is usually an option with most insurance companies.

Driving experience

Other things that an insurance company may consider are things such as driving experience, previous accidents and previous motoring convictions. Keeping a record as clean as possible will help to ensure that a premium is kept as low as possible for you.

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