(Original post by JC.)
There have been a lot of threads lately concerning insurance and the (frankly) somewhat silly quotes people have been getting and how to get cheaper quotes.
Perhaps it's time we had a thread summarising the sort of things that are worth thinking about before buying a first or even seccond vehicle.
1) A common misconception is that you MUST have a hatchback with a small engine.
Really? Why? Is it because that's what everyone else in your age bracket has? Why not try thinking outside the box before you buy a car that's uninsurable.
Before you part with your hard earned cash for a car, it would be prudent to get some quotes for it first.
As a rule, small engined hatch backs are very expensive to insure. Why? there's more of them on the road than anything else and so subsequently they are involved in more accidents than anything else.
Before commiting to a hatchback, why not consider other options? What about a 2 seat convertible or a mid sized saloon? Even an estate car can be a good bet.
Sure these slightly bigger cars might use more in petrol, however, you might find the savings you make in insurance will put an awful lot of fuel in the tank!
2) Think about what you are going to state on the quotation forms.
a) additional drivers
Adding a parent or someone else to your insurance with a clean licence will bring the premium down a bit. If you get it wrong and wrap it round a lamp post it won't affect the named drivers no claims bonus. It simply means they are authorised to drive the car - whether they do actually use the thing or not is irrelevent.
b) mileage limitations.
How far are you *really* going to drive the thing? Chances are you're not going to do too much driving in your first year. Limit the mileage to maybe 4000 or 6000 miles. The risk to the insurance company is lowered as you are likely to be spending less time on the road - less time on the road in their eyes = less chance of an accident.
c) Voluntary excess
You can trade a higher voluntary excess against a lower premium. Be careful, though. If you do have an accident, your voluntary excess is added to your compulsory excess. In the event of an accident it could get expensive!
You need to way up the risk vs reward on this one yourself
d) The internet won't neccesarily solve all your problems in life!
Call the insurance companys up! Not all companys use comparison websites. By and large, comparison websites tend to be expensive. They can be used as a guide, though? Often if company X is cheapest on a comparison site, you can get a little more off the premium if you pick up the phone and talk to a human being!
e) Don't forget your local independant brokers
Every town has them - walk in and give them a try. You never know, they might be able to help. As a bonus you'll be supporting a local business rather than a faceless company.
f) Whilst you're on the phone - why not strech the truth a bit?
No, I'm not suggesting you lie about "material facts" e.g modifications, date of birth etc...
What you CAN try is this; Assume company A gives you a quote of £1307.66. Whilst you are on the 'phone to company B trying to get a better quote, tell them that company A will cover you for £1037.66 AND they are including both breakdown and legal cover for that price.
g) What type of cover do you really need?
If you're rocking round in a car worth £1500, do you really need to pay extra for comprehensive cover? Try a 3rd party quote or third party fire and theft. You won't get a payout for your car if YOU
cause the accident, but by the time the excess is taken into account, just how much will you get back in real terms towards your new car from your £1500 original?
h) Think outside the box even further - Classic cars!
Classic cars are a viable alternative to modern transport. However, you must make sure you go to a specialist insurer. It'd also be wise to pick something with a good spares back up. Whilst you may covet a humber super snipe, can you get brake pads and suspension bushes?
Anything with a large club scene behind them will probably have their own dedicated insurers. They might specify you have to be a member of a certain club to get insurance, but club membership is normally less than £40 which can offset the cost of insurance greatly.
Classic cars with a large following will normally prove the cheapest to insure.
Such examples include, but are not limited to: Original Mini, Land rover, MG - B, BGT or Midget, Ford Popular 100e / 105e, Morris Minor, Triumph Herald / spitfire / dolomite/ Tr7, VW Beetle etc...
Generally try to avoid going over the 1.5 litre mark or, at a strech the 1.8 litre mark with classic or, indeed modern cars and you will be able to find something suitable.
Do you *really* need it this year? It'll be cheaper when you have your next birthday after all! There are two golden ages it seems when getting insurance. The first threshold is 21 and the seccond is 25. Once you clear these hurdles it gets a lot easier to find premiums that don't hurt your wallet quite so much.
Motoring is expensive. That's a fact.
The old adage states " He / She who thinks they can *just* afford to run a Jaguar, probably can't". I'd actually extend saying in so far to say that: "He / She who thinks they can *just* afford to run a CAR FULL STOP
Driving is a priveledge, not a right. If you want little luxuries in life you have to be prepared to put your hand in your pocket and pay for them.