Car insurance policies, like all insurance policies, are calculated according to the potential risk posed to the property insured ? in this case your car. There are several measures that you can take to reduce the risk to your car, and in the process reduce your car insurance premium.
Try to avoid incurring speeding penalties, as convictions for these and other driving offences will result in a hike in your insurance premium ? usually around 5% for the first offence, and causing a hefty increase for two offences at an average of around 20%. Definitely do not get caught using your mobile phone when driving, as this driving offence can as much as double the cost of your existing insurance premium.
When looking at insuring a driver under the age of 25 ? viewed as high risk by car insurance companies ? this risk can sometimes be alleviated by adding an older driver with a good record to the insurance. Many companies view this as reducing the average risk to the car, and so can lead to a reduction in the premium ? but don”t be attempted to ”front” for a younger driver (claim that you are the main driver) as this is an offence, and will also invalidate the policy in the event of an incident.
Younger drivers should consider starting out with a modestly powered car. Powerful cars are considered to be at additional risk of collisions, and will hike up the premium considerably ? it is worth getting a quote from one of the major car insurance companies like The Co-operative Car Insurance for your intended model before purchasing to get a rough idea of the likely premium for your new car.
It is often well worth fitting additional security devices. Fit a car alarm if you don”t already have one, and consider an engine immobilizer as an addition to your car, as these reduce the risk of theft and can therefore substantially lower your premium.
Be aware that performance modifications to the car, such as ”chipping” the engine management system for increased power output, will definitely increase the cost of car insurance.
Many of the online car insurance providers like The Co-operative Car Insurance have good sites that can help you get an idea of what is on offer. Also remember that price comparison sites can give you a good feel for the market, but none of them cover all car insurance providers.
Virgilio Muchortow is the author of this article. Make sure you have the right home insurance and car insurance policy with The Co-Operative Insurance.
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