Getting insurance
By Sarah GandertonOkay, so you’ve passed your test…that was the hard bit, now you just need to sort out some insurance so you can get on the road and test your new wheels! Here are some tips on how to go about getting insurance.
Obviously, it’s never going to be cheap – we all know young and new drivers are a big risk to insurance companies compared to people who’ve been driving for a while. But don’t worry, once you start to build up some no claims, this will soon go down.
In the meantime, there a few steps you can take to knock a bit off your insurance premium;
Take the Pass Plus Exam
This is an intensive course you can take to become a better driver, and it could get you up to 35% discount off your car insurance. It costs around £150.00, but is well worth it for the money you could save. Ask your instructor for more details.
Pay Higher Excess
The standard excess fee you will be asked to pay is £100.00. However, if you volunteer to pay more, you could save on your premium.
Pay in One Go
When you take out car insurance, you will usually be given the option of whether you want to pay in one lump sum or monthly instalments. What they don’t tell you is that, you will be charged as much as 15% apr on monthly payments, so it works out cheaper to pay up front if you can afford it.
Named Drivers
Adding an older driver, such as your mum or dad could save you as much as 10% on your insurance.
Car Security
Insurance companies are very keen on security as this obviously prevents less of a risk. Getting a Thatcham approved alarm fitted would get you a discount on your insurance, as these are recognised by most insurance companies. Also, keeping your car in a garage or on a private driveway helps, as the car is at less risk here.
Buy On-line
This is an option always worth investigating, as you’ll find most insurance companies offer a discount for buying on-line.
Be Born Female
Sorry lads, it’s a fact of life. Why? The average female driver is safer than the average male driver.
And don’t forget, shop around! You’re the buyer so insurance companies will all be keen for your custom so make sure you explore all your options first to get the best deal.
Different Levels of Insurance Explained
3rd Party – this is the most basic type of insurance. It covers you for any damage you do to someone or something that is not you or your car.
3rd Party Fire & Theft – this covers you against the above and against fire and theft. This is the most popular type of insurance for young/new drivers.
Fully Comprehensive – this is full risk cover for your car, and will cover you for any damage.
As a new or young driver, you will not be able to afford fully comprehensive cover, so you may be better off looking at the other options until you’ve built up some no claims bonus.
For more infomation please call us on (0800) 6128724
The Coopers Driving School Team
