Buyer's Guide: Cheapest Car Insurance

Finding cheap car insurance may look like an impossible thing to do in the current market situation but if you have some time to spend on research, we guarantee you will find the insurance to match your budget and requirements. You always have to consider the details and read all big and small prints before you sign on the dotted line. What you agree to is what your car cover will be for the next 12 months and you don't want to overlook important bits.

Important points for lower premiums

 

1. Your car - your insurance cost will depend mostly on what car you are insuring - model, specifications, added extras. Expect higher prices for your brand new sports car and lower premiums on a used car of the same model which is only a few years older. The different cars and models are classified in 50 groups depending on the engine, cost of maintenance and parts, acceleration, speed and price. Your vehicle will be determined into which group it falls in and that will be the starting value of your premium.

2. Safety safety and anti-theft features pre-installed or installed as extras on your car. This will drop the price of your policy down. Such features include alarm, immobiliser, GPS locator, parktronic, blind spot monitors, etc. The place you keep your car parked at also determines the price of your policy.

3. Driving experience - the cost of your premiums is influenced by the years you've had a driving license. Young drivers  pay more for insuring their cars as they are not so experienced and are considered more risky for causing accidents. The cost of the car insurance will be increased if there are any penalties or accidents. There are courses as well that will help you gain extra good points towards your insurance. They are the so called defensive driving classes. Most of them are for new drivers to help them gain confidence on the road but there are some tailored for dangerous road conditions - snow, bad weather or busy traffic to help even experienced drivers cope with extreme circumstances.

4. Your car insurance provider - if you've found a good price from a certain provider this year, check if you can get a lower price from other providers the following year. Some providers will even match the price so you wouldn't have to transfer your policy.

5. No claims bonus - this discount is applied by most insurers for safe drivers who have a clean record for more than a few years back. This involves parking or speeding fines. A significant lower premium will be noticed if you have more than 5 or 10 years with no claims at all.

6. Yearly mileage - the more you drive your car the more expensive your premium will be. Low mileage drivers pay less and there are even custom tailored polices for them. 

7. Comparison sites - these sites are probably the best place to receive a good priced quote for your circumstances. It only takes a couple of minutes to enter your data in and you will be matched with hundreds of providers. You will be able to view a list and compare your options. Take a close look to each policy; make sure you read it through to avoid any disappointments later.

Take your time to compare providers and policies. Your current provider may not be the best option. Compare at least a few providers or use a comparison site such as CompareTheMarket, GoCompare or Confused.com.

You might be interested to know about: PAYG car insurance