How to Save Money on Your First Car Insurance Policy
You’ve finally passed your driving test – well done! But, now you’re faced with the even more difficult challenge of insuring your first car. New drivers are often charged a lot more for car insurance due to their inexperienced status.
But, even if you’ve only just got your practical driving test pass certificate, there’s no need to break the bank when it comes to insuring your first car and getting out on the road. Here are our top tips to help you save money on your car insurance.
1. Wait a While
Rather than going straight to the nearest car dealership straight after coming back from the driving test centre, waiting a while to purchase your first car could pay off in terms of your insurance premium.
Not only will the fact that you have held your licence longer often reduce the price from many insurers, you can also use this time to get named driver experience on another car, take some motorway lessons, or even undergo an additional driver training course such as Pass Plus. Not only will this help to reduce your insurance quotes, you’ll also be more experienced on the roads, which can only be a good thing for when you get your first car. Check this site out if you want to revise road signs, markings, rules, and take driving theory mock tests free of charge.
2. Have a Named Driver
For many new drivers, being the only driver on a vehicle means they’ll need to pay the maximum amount. But, don’t fall into the trap of being a named driver on somebody else’s car if you are the main driver; this is not only illegal, it’s also dangerous as you won’t be covered by the insurance policy in the event of a road accident. Instead, naming a more experienced, older individual on your insurance policy as an additional driver is a perfectly legal way to save some money.
3. Take Out Black Box Insurance
Lots of drivers don’t like the idea of a black box in the car tracking their every move. But, with new telematics policies today available with no curfew or restrictions on when or where you drive, all it will do is track how safely you’re driving. If you’re sticking to the highway code and driving defensively, you will be rewarded with an insurance discount. So, it’s definitely worth having one.
Some telematics policies even provide you with a pre-paid debit card that’s loaded with the money you save by driving well. Then, you can do whatever you like with it – whether you put it towards next years’ policy, add it to your next car fund, or buy something completely unrelated.
As a new driver, trawling through high-priced quotes can be disheartening. Don’t forget – the larger your car engine, the higher your insurance premiums will be. So, along with these tips, pick a car with no larger than a 1.2L engine – anything above this and you’ll see the prices shoot up. Older, less powerful cars are also deemed safer and therefore can cost less to insure.