Your First Car Insurance Policy
When you've just passed your driving test it is a very exciting time but you need to consider your options very carefully in order to avoid paying too much. There are a lot of hidden costs when buying a car for the first time, the biggest of these costs is your insurance. As a new driver you will be charged the very highest premiums on insurance. This is because you are statistically the most likely to be involved in an accident.
Even though this may sound like bad news, there are still many ways that you can save on the amount that you spend by following a few easy tips.
One of the best ways to save money on your new car is by considering which insurance plan you are going to go for. Insurance is compulsory and driving without it is illegal in the UK. This means that even though it may seem like an annoying expense to have to pay, you can't go without it. The upside of having insurance is that you will be covered in the case of any accident you may have.
There are hundreds of potential insurers out there so it can be difficult to know which one to go for. The best way to find out which insurer can offer you the best deal is to compare them using a price comparison tool. Here on our website we offer a free and impartial price comparison service that allows you to compare all of the insurance deals that are available on the market right now. This means you can clearly see which company will offer you the best prices so you don't end up overpaying.
Picking a Car
Choosing your first car is somewhat of a rite of passage for any young person, but it is important to consider how expensive the car that you choose will be to insure. You don't want to fall into the trap of going out and buying a car and then realising that you can't afford to insure it. There are many factors that influence the amount that an insurer will charge you to cover your car.
One of the biggest factors that influences the price of your insurance will be the size of your car's engine. As a general rule the larger the engine, the more expensive your car will be to insure. The reason for this is that car insurance companies base the cost of your plan on how high risk they judge you to be. This means that if you have a very powerful car and are a relatively inexperienced driver, you're insurance company will see you as more likely to be involved in an accident.
Another factor that affects how much you will pay for your car insurance is what make of car you buy. Cars from more expensive manufacturers are often the most expensive to take out insurance plans on. This is because the price of repairs and spare parts for these cars are often much more costly. This means that in the case of an accident your insurer will probably have to pay more to get your car back on the road again.
Where to keep your car
Another factor that affects the amount that you pay for your car insurance is where your car is stored. If your car is stored at home overnight in a locked garage, your insurance company will probably charge you less money to insure it. This is because your car will be at less of a risk of being stolen than if it was parked on the street. If you use your car to drive to work, then where you park it there will also be a factor in your insurance costs. On road parking is generally the most expensive and parking in a private car park or locked garage is the cheapest.