Tips To Cheaper Car Insurance
The insurance premiums on your car keep rising every year, and while these depend largely on your age, discount and car, there are tips to cheaper car insurance that will slow down rising premiums or even decrease them.
Buying online will reduce costs, as the majority of companies give a discount for applications made online since this reduces their administration costs, saving you between 5% and 10%.
Buy extra cover such as contents or building insurance, as this will earn you additional discounts. One of the important tips to cheaper car insurance is to pay your premium in full, thereby avoiding expensive interest charges that you’ll pay on instalments, plus some companies will give you a discount if you pay in full.
Also, if you increase the amount of your voluntary excess, your insurance provider should decrease your premium. Reducing your yearly mileage can also decrease your premium, as will having an immobiliser, tracker or alarm fitted.
Some other ways of reducing your premiums are to take an advanced driving course, only insure your car for its true value, ensure that you keep a good credit score, insure only for Third Party and keep your license free from traffic violations.
Young Driver Insurance
It’s well known that young drivers are charged a higher rate on their car insurance, in particular young male drivers. Although address, sex and age play a part in how much everyone’s insurance premiums will cost, young male drivers are far and away the group that’s charged the most. Sadly, this has led to one in five young drivers being uninsured.
For the parents who have to pay the insurance premiums, the high price of young driver insurance is a heavy burden. One out of every five recently qualified drivers will crash their cars within six months of getting their license.
Drivers under the age of 21 are twice as likely to claim as those older than 21, and claim for a serious injury as much as five times more often. Statistics like these have led to heavy premiums for young driver insurance, and a male driver of 17 will have to pay nine times as much as a 25-year-old and 14 times as much as a 35-year-old, for the identical car in the same area.
Young female drivers are a little better off, and a girl of 17 will only pay six times as much as one of 25.