Ok, so that time has come, you have just passed your driving test and you’re ready to get your first car. It is time to do a very adult thing, and search for car insurance. Suddenly a cold sweat comes over you as you see the number “£4021 per year” pop up on your screen.
Don’t worry, we have a plan. Car insurance is a financial product offered by 100s, if not 1000s of providers. With a little knowledge and a good plan, you will be able to get the perfect package at the right price.
When I search for car insurance, I often get quotes ranging from £200 – £5000, it might seem strange but look at it this way.
Every insurance company has a target audience; think of it like this, Robinson’s “Fruit Shoots” are aimed at children for the most part whereas Grey Goose vodka is vodka aimed at drinkers who want a slightly more premium drink than the supermarket vodka.
You just need to find the insurances companies that are specialising in your market. The back story behind why some insurance companies offer better prices for new drivers is a long and boring one, so we shall skip that for now.
So it’s time to get your first car, don’t be fooled in thinking insurance prices are affected solely by the size of the engine – that is so far from the truth.
You will find a whole list of factors affecting the insurance liability. Here are some of them: the age of the car – this can affect how safe it will be plus how well it might cope with a incident, The ease of which it is to steal and the reliability of the car to name but a few.
So each car is given an “Insurance Group”. As a new driver, you want the lowest group. The range is from 1 to 50, so I am sure you can see what type of group you need to be aiming for.
As a bench mark, the Ford Fiesta 1.5L is “Group 9” and an Audi S5 4.2L is “Group 40”.
Yes, is the simple answer in most cases it will. But as a word of warning, you MUST follow the law here. With insurance, you have two types of drivers on a insurance policy – the
MAIN DRIVER ( car owner, not to be confused with the person who paid for the car )
NAMED DRIVER ( an elected person able to drive the car for less than 25% of the given time a Main Driver uses it )
If you are a new driver you could add you dad, mum or older family member to be a “named driver” to your policy, they reduce the risks in the eyes of the insurance company which will lower the insurance cost.
But, and this is important, don’t make the experienced driver a “Main Driver” and you the “Named Driver” because it’s YOUR car, not theirs ( even if you didn’t pay for it ). That practice is called “Fronting” and it is illegal. Also don’t add someone on the policy that doesn’t have access to your car because if you ever need to claim, they will look heavily into this and thus if it is not done above board, your insurance may be ” null and void”.
It sure can, in Car Dash cameras are getting very popular now, it’s almost standard for most cars in Russia due to the massive amount of road collisions. In the UK some insurance companies are now offering big discounts for some types of dash cams, so do some research and find out what companies will offer you an additional discount first. This way you will have a great bench mark for your policy price.
This one is well known but sometimes never utilised. Having a garage or drive saves money on insurance, simple I know, but often I hear the words ” mum doesn’t want her car on the road, so I can’t use the garage.
It makes sense, but if I said it could affect a £1000-£3000 premium by up to 5-7%. So it might be an idea to park the new drivers car in the garage and the BMW can look all shiny on the curb side.
This one is very simple, the less miles you drive the lower the liability you are. Simple maths, so roughly calculate what type of mileage you are going to be doing. On average a medium amount of driving a year is 7000miles and a heavy amount can be 10000miles , so work from there. But DON’T underestimated or make it up, this could affect your insurance validity.
Ok, so you will find a range of types of insurance you can have.
Third Party – which means if you have a incident, just the other driver (Third Party ) car and person is covered.
Third Party Fire & Theft – which means the same as above but also a car fire or theft is covered.
Fully Comprehensive – which means that both the third party and yourself are covered for every type of incident.
But don’t be fooled, most people think Third Party is cheapest, but that is often not the case so always try Fully Comp first.
You don’t have to just go main stream, look for the bespoke companies that fit your needs, for example – TheA&A Group based in Hampton Hill www.taagl.com
You know your way around Google, so go have a hunt. But be sure to do your research on the company, check the company is legit and has good “Real” reviews before going for it.
Yes, but what is a broker? Think of a broker as a middle man, like a high street travel agent. They will hunt you down the best deal and act like the go to person throughout out the whole policy. I nearly always use them for both normal car insurance and my driver tuition insurance, not because I don’t like comparison sites, but because brokers, in my case get me a comprehensive, more bespoke package at a better price.
Well in short, none. Don’t just use one site, I know this will take a while but after doing lots of test quotes, I have noticed that every comparison site comes up with different prices, even when the exact same input details are given, so try them all.
Also remember a lot of the big names such as Direct Line and Churchill don’t use them, so make sure you don’t forget about them when you’re getting online quotes.
So you have 3 top quotes for your insurance, this is how to save even more cash. It’s such a saturated market that companies are clambering for your money. So let’s say you have
MyInsurance £ 989
Firstly – Ring them, and ringing is important as they will have a little flexibly with price. Call the “Number 3” quote and say that we have heard good things about their company but “MyInsurance” is £112 cheaper insurance.
Two things will happen, you will be offered a better price or they wont budge. If it’s no, then you have lost nothing but often they will bring it down to just below that price.
Secondly – Ring the “Number 2” quote, with the same technique, but now use the newer lower price.
Finally – Ring the original best price “MyInsurance” and say “look CarQuote and InsuranceMyCar both offer a better price, but I like your product can you help?”, again it’s Yes or No; which ever way you win.
I’ve saved over £150 off the top quote price doing this in the past.
This is a new technology that has been around for a few years, if all else fails this is a route you can do but it does have some draw backs with mileage and using the car a night. Take a look at another one of our blogs for more information.
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In our lessons we try and cover it all but unfortunately we cannot cover motorways due to the law. The six hour course teaches you in detail all of the above and more, thus a select group of insurance companies can give you up to a 10-15% discount once the course is completed .
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