If you have just passed your test and have finally bought your first car, one thing that can ruin your excitement about getting out on the open road is the cost of car insurance. If you are looking for ways to keep your insurance premiums low even when you are a first time or young driver, the tips below will help you.
Type Of Car
When you buy your first car, don’t be tempted to go for a luxury car or a car with a high powered engine as the insurance on these cars is generally more expensive, particularly with 1st time and young drivers. It is recommended that you choose a car that is a standard model free of any modifications and has a small engine size.
The rule of thumb is that in most cases the lower the car’s value is, the lower the car insurance premium will be. Therefore, you don’t want to go out and buy the most expensive car you can get within your budget. If you want to save money avoid the high insurance risk cars and opt for a more reliable, second hand car to keep those premiums low.
Type Of Insurance Cover
You should always get third party theft and fire cover as this is the minimum level of insurance cover required to legally drive in this country. This cover will protect you against injuries you may cause to other people or damage that you may cause to other people’s property while driving. It also will cover you if your car is stolen, or damaged or lost as a result of the theft or a fire. This type of cover does not protect you from accidental damage costs that were caused by you. It may be a good idea to invest in a comprehensive insurance policy as this will protect you from the costs of accidental damage that you have caused to your own car.
Keep A Clean Driving License
Always drive sensibly and safely and avoid any penalties or convictions, as these will very likely have a big influence on your insurance premium. Never drink and drive or speed, because as a young or first time driver with these kinds of convictions or penalties against your licence you will find it impossible to get insurance that you can actually afford.
Choose Drivers Carefully
If possible it is a good idea to limit your insurance cover to just yourself. However, with some insurance policies you can add named drivers at no extra charge. This works because if you are a high risk driver, either first time or young, then adding a lower risk driver will not add on to the price of the premium. If you can add your parents to your policy at no extra charge, you may as well take advantage of that because you never know when you will need them to drive your car for you.
Article written by Pete Bendel from buyingbrain.com – You Money Saving Blog