If you are 22 or younger and live in the UK, chances are that the insurance price you are faced with paying could be up to two and a half thousand pounds or so. Finding this amount of cash when you are young can be tough, or impossible. Luckily, however, there are ways that you can ensure that you are offered an insurance quote that isn't above the odds.
Young people face staggering costs when it comes to insuring their car. It doesn't matter whether they are good or bad drivers, as the cost is the same. New drivers haven't had time to prove that their driving skills and competence makes them a low risk. Therefore, insurance companies can charge them a small fortune.
Car modification
Pimping your car may be all the rage amongst your age group, but it won't do your bank balance any favors. Insurance companies tend to see young customers who modify their cars as being potentially poor drivers. In addition, as pimping your car could add value to it, you will automatically need to pay more insurance money to take this into account.
The only alterations you should make to your car are those that make it more secure or safe. Add funky rims and headlights in an unusual color and your friends might be impressed, but your insurance company won't see things the same way. Not only could your car insurance be hiked, but also your policy could be deemed invalid. Add an immobilizer and a car alarm however, and the cost of your insurance could go down.
Dishonesty
It may be tempting to tell, what you consider to be, a few white lies to improve your customer profile. For example, you may imagine that informing an insurance company that you will not be using your car for work related purposes, when this is not the truth will be to your advantage. Once again, however, doing so could invalidate your insurance.
Make of car
Even if you are lucky enough to be able to buy a fantastic car that's super-fast and impressive to view, owning such a vehicle might be unwise. The more expensive your car the higher the cost of insurance is likely to be. Consider the fact that if you accidentally wrecked your pride and joy, the insurance company would need to cough-up a significant amount of cash to cover costs. They will certainly charge you for this convenience via your insurance in the first place.
Excess
Excess is the money you are willing and able to pay yourself before your insurance kicks in, and you will need to tell your insurance what this figure is before they can provide you with a quote. Having a low excess might be helpful should you need to make a claim. However, a low excess tends to equal high insurance costs. It may be worth your while having a slightly higher excess in order to allow you to pay significantly lower insurance costs.
It can be great fun getting your first car, but the hefty price of insuring it might deflate your joy. However, you can make sure that you are quoted the lowest price possible for car insurance by wisely avoiding having a very low excess and by selecting a vehicle that you can afford to insure. In addition, being honest when providing information to insurers and not pimping your car is likely to help keep down the price of insurance.
