How To Reduce The Cost Of Your Car Insurance: A Guide For New Drivers
As a new driver, your car insurance is most probably incredibly high, and that’s perfectly normal. However, as you spend more time on the roads, fingers crossed you can knock the cost of your insurance down.
To help you reduce the cost of your car insurance, we have put together this simple guide:
Pass your driving test
With a theory test and driving test to book, as a learner driver your insurance will be very high. But it’s important to realise that once you pass, the price should drop. It might not go down by a lot, but the cost of insurance should drop.
Think carefully about your mileage
Don’t just put a random number when sorting out your insurance, take the time to think about how much driving you will actually do. The more mileage you do, the higher the cost of the insurance policy.
If you overestimate your mileage then effectively, you are throwing money away. That’s why it’s so important to take the time to think about how much travelling you will actually be doing. That being said, don’t underestimate your mileage. Otherwise, your policy could be void in the event of a traffic accident.
Think about the car’s value
The more expensive the car, the most pricey the premium. Don’t make the mistake of overestimating the price of your car, as this will take your insurance price through the roof.
Think of it like this, the value of your vehicle is what the insurer would need to pay out if the car were stolen or involved in an accident. That’s why the more expensive the car, the more expensive the premium.
Where your car is parked
Believe it or not, where you park your car can affect how expensive your policy is. The more secure the location, the cheaper the policy will be. For example, if you can park your car on a driveway, instead of on the street, that will take down the cost of your insurance.
If you are lucky enough to have a garage, that will cut the cost of your insurance even more. It’s small things like where your car is parked that affect the price of your policy.
What your car is used for
What you use your car for - commuting, long distance travel or pleasure, will affect the price of your policy. So if you only use your car for social reasons and short journeys, make sure to state that.
If you use your car for business purposes, the cost of your insurance will be higher. However, you can save money by going through a specialist business insurer, instead of a domestic insurer.
If you use another car
If you have access to another car, as well as your own, this can reduce the cost of your premium.
You see, if you have access to another car, the insurance company will see that as a benefit for two reasons. One, it means you won’t be using your car constantly, and two, you are a reliable driver.
Car insurance can be expensive, but it’s a legal requirement, so must be taken out. While at first your car insurance will be expensive, the more experience you get, the cheaper it will become.