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Finding the right car insurance policy can be a real pain, especially when trying to minimise cost. Here are some ways to find cheaper car insurance in the UK to make sure you get a better deal.
Car insurance is required by law
In the UK, car insurance is required by law. This means that you must have insurance if you want to drive a car on the roads. If you do not have insurance and are caught driving, you could have your car impounded.
There are a few ways to find cheap car insurance. You can search for quotes online or through a broker. You can also compare rates with individual companies to find the best deal. However, this can be quite time consuming.
It is important to get a good deal on car insurance. A low premium will save you money in the long run.
Types of insurance for your car
There are a two main types of car insurance that you can choose from in the UK.
Comprehensive coverage: This means that your policy will cover damage from all types of accidents, including those that involve other drivers and vehicles. Comprehensive coverage is usually more expensive, but it’s worth it to be fully protected in case of an accident.
Third-party only cover: This type of insurance would only cover damage to your vehicle from accidents that were not your fault. For example, if you hit another vehicle and so damaged the other driver’s car, you would have to pay for the damage.
What affects car Insurance cost in the UK?
The cost of car insurance varies by person in the UK, and what car they want to insure. It also varies by where you live, and where the vehicle is stored overnight.
One of the main factors that determines how much car insurance will cost you is your driving record, and the type of car you want to insure.
If you are a new driver this will make it more likely that you could have an accident due to lack of experience. If you are young, or have driving convictions, or endorsements on your licence this can also affect the cost. This is because the insurance providers deem these people to be riskier to insure. The longer a driver has been insured and driving a car, they can build up no claim discounts to get cheaper insurance in future years.
The car’s performance, safety features, desirability, age and more can have an impact on the cost. If a vehicle is more likely to be stolen it will be more expensive. If it is a high-performance vehicle, it could be more likely to be involved in an accident.
Where you live also affects the cost of insurance. This is largely due to the varying crime rates around the country. For some people it can be a postcode lottery.
What are some ways to save money on car insurance?
There are several ways to potentially save money on car insurance. One way is to shop around for rates. Don’t just rely on comparison sites. These are making money for referring you to the company. This cost may be passed on to you.
Get a smaller car with a smaller engine
Insurance companies base their rates on the engine size of your car and its performance. If you just go on small drives around town and don’t have a large family, consider getting a smaller car.
Take a Pass Plus course
Once you’ve completed Pass Plus you may be able to get a discount on your car insurance, especially if you are a newer driver.
Use a “black box”
Black boxes are either installed in the car or downloaded as a smartphone app. The app connects to GPS, speed sensors and dashcam footage of videos. The AI uses this information to provide vehicle diagnostics, driving patterns and diagnose potential accidents.
Get a car with a good safety rating
New cars with a higher safety rating can often be cheaper to insure. This is because they have less of a risk of injury to passengers and anyone that could be struck by the vehicle in an accident.
Consider accepting a higher excess charge
The excess charge is how much you will have to pay towards the costs of repairs. Sometimes a policy can look great value until you see that it has a ridiculously high excess charge. Sometimes you can find a policy with a good middle ground to save some money.
Pay for your insurance outright
Paying for the whole policy in one go means there is no interest charges to pay on the payments.
Third party only insurance
If your car is not worth much and you can afford to replace it, it can be significantly cheaper in some cases to get third party only cover. However, this is not always the case. It is worth asking how much the difference is because it can on occasion not be very much cheaper at all and a false economy.