The cost of car insurance depends on your age, location, mileage, type of car you drive and even the job you do. You can choose from three types of cover, depending on your budget.
Third party only. This is required by law. It gives you cover if you have an accident and will pay for damages to the people or property involved.
Third party fire and theft. As above but this policy also covers for loss or damage to your car if it is stolen or lost in a fire.
Comprehensive. As above, but this policy will also cover you against accidental damage to your car.
New drivers and young drivers tend to have higher premiums - but it is possible to save money on your car insurance. You may get a cheaper deal if you're a woman, avoid insuring other 'named drivers', have a claim-free insurance record for a year or more, or accept a high excess.
Get your discounts. Make sure you get all the discounts you may qualify for. Check on discounts for safety and security features. If your car is kept on a driveway or in a garage this will lower your premiums. Buy insurance online and you can often save between 5% and 10%!
No Claims Bonus: If you have a claim free record for a year or more then you should qualify for a no claims bonus. New drivers can often fast track to a no claims bonus by taking an initial 10 month policy.
Avoid Named Drivers: Unless it's absolutely essential avoid having additional drivers on your policy.
Increase the Excess: The excess is the amount of money you have to pay towards a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher the excess, the more money you can save on your premiums.
Change Sex: Women tend to have less accidents than men! For this reason, women can often get cheaper car insurance deals. Look out for specialist companies that provide women only car insurance.
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Based on an original document © Simple Joe, Inc. and adapted for the UK market by Buy Insurance.
