Nowadays young motorists are finding that the cost of insuring their first car can be prohibitive. In fact, there are no doubt many that decide to put on hold purchasing their first car because of this expense.
There are however a few things that you can consider in order to lower your car insurance premium. Let’s have a look at some of them.
A Ford Ka is going to be cheaper to insure than a Ferrari sports car
Make and model of car
Cars are placed within one of fifty insurance groups with those cars in group one being the cheapest to insure and those in group fifty being the most expensive. There are a number of factors that affect which group a car is placed in such as its cost and speed. The more expensive it is and the faster it goes the more it will probably cost to insure as you are more likely to have an accident in a high-performance Ferrari sports car than a Ford Ka with a 1.2i litre engine.
Therefore, you could consider buying a car that comes under group one.
Telematics Car Insurance
This is also known as “black box” car insurance and involves having a box placed in close proximity to your dashboard. It monitors a number of things such as how well you drive the car i.e. the speed you go and how you brake. It also monitors at what time of the day the car is driven. This provides the insurance company with a more accurate assessment of your driving ability enabling them to charge a lower premium to those deemed to be safer drivers and, therefore, less of a risk.
Excess
The higher the voluntary excess you are prepared to pay, should you be involved in an accident, then the more likely you are to get cheaper car insurance.
Overnight Parking
If the car can be left overnight in a locked garage it is likely to cost less to insure than if the car is left on the road outside the house through the night.
Security devices
Fitting the likes of an engine immobilizer, tracking device and an alarm may lower the premium.
Shopping around
You can get a number of car insurance quotes from different insurance companies from the likes of price comparison websites but do remember to compare like with like.
We hope that the above is of some help in getting a good deal on your car insurance.
