riverlad
A2OC Donor
Hi John.
I just read this on times online. Hopefully it will help.
"Shopping around, buying a boring car and driving safely are among the ways we can all cut the cost of motoring
The cost of car insurance has soared in the past year. According to the AA, premiums for all age groups are up by more than 25 per cent and those for the youngest drivers are up by 51 per cent. Men aged between 17 and 22, the worst hit by the rises, can expect to pay £2,500 a year for cover, which is often more than the cost of their cars. Experts believe that premiums are set to climb higher still, with some predicting that they could rise by another 20 per cent due to an increasing number of claims, fraud and uninsured drivers. While much of this may be beyond your control, there is plenty you can do to bring costs down. Here is our ten-point guide.
1 Use more than one comparison site and try a broker
According to Moneysupermarket.com, shopping around saves an average of £233. Price sites vary in the range of insurers they cover, so to get the cheapest premium you may need to try several. It may take time, but you should also get quotes from a couple of insurers that do not appear on such sites, such as Aviva and Direct Line. An insurance broker may also be able to find you a cheaper deal, particularly if you are not a standard case — for example, if you are young and a newly qualified driver, or if you want to insure a classic car. The British Insurance Brokers’ Association (Biba) lets you search for a broker in your area at biba.org.uk.
2 Take a course
Some insurers offer discounts to newly qualified drivers who take extra training under the Pass Plus scheme, to hone their driving skills. Some local authorities subsidise the scheme or even pay for it. Otherwise, it costs about £150; direct.gov.uk has details. There is also a BTEC qualification called Drive iQ PRO, which is run in conjunction with the AA Driving School and teaches road safety. Drivers complete part of the qualification during their normal driving lessons and do the last element after they qualify. It costs £150 in addition to lesson costs.
A linked insurance product from Drive iQ offers discounted premiums for drivers who pass the test. However, before starting the course you should check the rates to which the qualification will entitle you against the best alternatives in the market to make sure that they stack up on price. Whether or not you make a saving may depend on how long it takes you to pass.
3 Big Brother technology
Some insurers offer policies based on in-car computers, which monitor factors such as when and how well you drive, to assess how likely you are to have an accident and to give you discounts if you reduce your risk. The products tend to target young and low-mileage drivers. Insurethebox.com allows you to pay for a fixed number of miles, usually 6,000, and earn bonus miles if its computer finds that you drive safely. The computer collects data on how fast you drive on dangerous roads, whether you stop sharply and whether you drive after 11pm, as many accidents involving young drivers take place at night. Another insurer, i-kube.co.uk, offers policies for 17- to 25-year-olds who agree not to drive between 11pm and 5am. If they do, their journey will be logged by the computer and £60 will be added to the premium. Coverbox.co.uk is another insurer that uses this kind of technology. Some drivers can save money this way, but it is still crucial to check any quotes against a comparison site.
4 Buy a boring car
According to BIBA, opting for a smaller and less powerful car will bring down your premium. Cars with sporty modifications are likely to cost more. If you are thinking of buying a car, get an insurance quote for the make and model first. You can get more information on how insurers rate vehicles on thatcham.org, the website of the Motor Insurance Repair Research Centre. Moneysupermarket.com says that older cars are not always cheaper to insure than newer models and sometimes you can get free insurance with new vehicles.
5 Bump up your excess
Increasing your voluntary excess is one way to bring down your premium, particularly while you are trying to build up your no-claims bonus. However, increasing your excess may make it pointless to make a claim. Don’t forget that the voluntary excess will be added to the compulsory excess if you make a claim, so you should consider the total amount you will pay.
6 Put someone more experienced on your policy
Drivers under the age of 25 can sometimes bring down their premium by adding a named driver with a good record to their policy. However, adding someone else as the main driver when this is not the case is known as “fronting” and is classed as fraud. This could invalidate insurance claims, lead to a fine or even result in a ban.
7 Cashback
You can get large sums back on insurance through cashback sites such as Topcashback.co.uk and Quidco.com, but it is crucial that you look for the cheapest quote first and see any money you get back as a bonus rather than a guaranteed sum. Such sites offer to give money back from certain providers if you apply for the product from one of their click-through links. Users of some sites have struggled to obtain payments. Two such sites, Cashbackkings.com and Rpoints.com, appear to be on the brink of going bust. However, when all runs smoothly, the savings can be substantial.
8 Try a comprehensive quote
Third-party cover may seem likely to be cheaper than fully-comprehensive cover, but this is not always true. Some comprehensive policies often work out cheaper even though they offer a greater level of protection.
9 Security measures
Fitting a Thatcham-approved immobiliser, alarm or tracking device can bring down insurance costs.
10 Build up your no-claims discount
According to BIBA, a year’s no-claims bonus can give you a 30 per cent discount on your premium and the discount is likely to rise by about 10 per cent a year until you have built up five years of no claims.
Driving safely is the best way to do this. If you have an accident and do not claim, some insurers may still increase your premium because they regard you as a higher risk."
The buying a boring car won't apply to us. but some of it should help.
Cheers
David
I just read this on times online. Hopefully it will help.
"Shopping around, buying a boring car and driving safely are among the ways we can all cut the cost of motoring
The cost of car insurance has soared in the past year. According to the AA, premiums for all age groups are up by more than 25 per cent and those for the youngest drivers are up by 51 per cent. Men aged between 17 and 22, the worst hit by the rises, can expect to pay £2,500 a year for cover, which is often more than the cost of their cars. Experts believe that premiums are set to climb higher still, with some predicting that they could rise by another 20 per cent due to an increasing number of claims, fraud and uninsured drivers. While much of this may be beyond your control, there is plenty you can do to bring costs down. Here is our ten-point guide.
1 Use more than one comparison site and try a broker
According to Moneysupermarket.com, shopping around saves an average of £233. Price sites vary in the range of insurers they cover, so to get the cheapest premium you may need to try several. It may take time, but you should also get quotes from a couple of insurers that do not appear on such sites, such as Aviva and Direct Line. An insurance broker may also be able to find you a cheaper deal, particularly if you are not a standard case — for example, if you are young and a newly qualified driver, or if you want to insure a classic car. The British Insurance Brokers’ Association (Biba) lets you search for a broker in your area at biba.org.uk.
2 Take a course
Some insurers offer discounts to newly qualified drivers who take extra training under the Pass Plus scheme, to hone their driving skills. Some local authorities subsidise the scheme or even pay for it. Otherwise, it costs about £150; direct.gov.uk has details. There is also a BTEC qualification called Drive iQ PRO, which is run in conjunction with the AA Driving School and teaches road safety. Drivers complete part of the qualification during their normal driving lessons and do the last element after they qualify. It costs £150 in addition to lesson costs.
A linked insurance product from Drive iQ offers discounted premiums for drivers who pass the test. However, before starting the course you should check the rates to which the qualification will entitle you against the best alternatives in the market to make sure that they stack up on price. Whether or not you make a saving may depend on how long it takes you to pass.
3 Big Brother technology
Some insurers offer policies based on in-car computers, which monitor factors such as when and how well you drive, to assess how likely you are to have an accident and to give you discounts if you reduce your risk. The products tend to target young and low-mileage drivers. Insurethebox.com allows you to pay for a fixed number of miles, usually 6,000, and earn bonus miles if its computer finds that you drive safely. The computer collects data on how fast you drive on dangerous roads, whether you stop sharply and whether you drive after 11pm, as many accidents involving young drivers take place at night. Another insurer, i-kube.co.uk, offers policies for 17- to 25-year-olds who agree not to drive between 11pm and 5am. If they do, their journey will be logged by the computer and £60 will be added to the premium. Coverbox.co.uk is another insurer that uses this kind of technology. Some drivers can save money this way, but it is still crucial to check any quotes against a comparison site.
4 Buy a boring car
According to BIBA, opting for a smaller and less powerful car will bring down your premium. Cars with sporty modifications are likely to cost more. If you are thinking of buying a car, get an insurance quote for the make and model first. You can get more information on how insurers rate vehicles on thatcham.org, the website of the Motor Insurance Repair Research Centre. Moneysupermarket.com says that older cars are not always cheaper to insure than newer models and sometimes you can get free insurance with new vehicles.
5 Bump up your excess
Increasing your voluntary excess is one way to bring down your premium, particularly while you are trying to build up your no-claims bonus. However, increasing your excess may make it pointless to make a claim. Don’t forget that the voluntary excess will be added to the compulsory excess if you make a claim, so you should consider the total amount you will pay.
6 Put someone more experienced on your policy
Drivers under the age of 25 can sometimes bring down their premium by adding a named driver with a good record to their policy. However, adding someone else as the main driver when this is not the case is known as “fronting” and is classed as fraud. This could invalidate insurance claims, lead to a fine or even result in a ban.
7 Cashback
You can get large sums back on insurance through cashback sites such as Topcashback.co.uk and Quidco.com, but it is crucial that you look for the cheapest quote first and see any money you get back as a bonus rather than a guaranteed sum. Such sites offer to give money back from certain providers if you apply for the product from one of their click-through links. Users of some sites have struggled to obtain payments. Two such sites, Cashbackkings.com and Rpoints.com, appear to be on the brink of going bust. However, when all runs smoothly, the savings can be substantial.
8 Try a comprehensive quote
Third-party cover may seem likely to be cheaper than fully-comprehensive cover, but this is not always true. Some comprehensive policies often work out cheaper even though they offer a greater level of protection.
9 Security measures
Fitting a Thatcham-approved immobiliser, alarm or tracking device can bring down insurance costs.
10 Build up your no-claims discount
According to BIBA, a year’s no-claims bonus can give you a 30 per cent discount on your premium and the discount is likely to rise by about 10 per cent a year until you have built up five years of no claims.
Driving safely is the best way to do this. If you have an accident and do not claim, some insurers may still increase your premium because they regard you as a higher risk."
The buying a boring car won't apply to us. but some of it should help.
Cheers
David
