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Cut the cost of insuring your teen driver
Get a quick young driver quote  - Purchase Car Insurance Online: Many companies offer discounts when
you buy insurance online. Use the Insurancewide.com insurance comparison service to find insurers who are most suitable for your profile.
- 'Shop Around': When you buy car insurance the golden rule is to
get a number of quotes, so you are able to make comparisons on price and
level of cover provided.
- Pass Plus: Gives young drivers a chance to cut their premiums
by up to 35% by taking a course of extra lessons after passing their standard
driving test.
- Don't modify the car: Modifying the car will affect your premium.
Manufacturers work closely with insurers so that a particular model of car
can be insured to a standard. If the car is modified then the factors on
which the premium has been based will have changed and the number of insurers
that will insure you is cut dramatically.
- Pay as you Drive. A leading insurer has launched this new scheme
which allows 18-21 years old drivers to budget for insurance on a by-journey
basis.
- Don't buy comprehensive insurance: If the car has a low value
you can save a third off your premium by insuring your car for Third Party
Fire & Theft.
- Low mileage discounts: If the annual mileage is low, inform you
insurer as this can cut the cost of your insurance by 15%.
- Check out the car before you buy. The cost of your car model,
how much it costs to repair, its safety track record and its attractiveness
to car thieves all affect your premium. Before you buy your car, compare
the insurance losses for different models you may be considering.
- Don't Buy a High Performance Car if you are under 30: If you are
under 30 and drive a sports car then expect a high premium, especially if
you are male. Insurers will take numerous factors into account including
your age and the group rating system of the vehicle to be insured. Most
family cars fall into groups 6 to 12, unless they have high-powered engines.
The different groups available range from group 1 (the lowest) to group
20 (the highest).
Some of the Highest Group Cars - BMW M series are group 20.
- Aston Martin's are group 20.
- Audi TT Roadster is group 20.
- Ferraris are group 20.
- Porsche 911's are group 20.
Some of the Lowest Group Cars (all Group 1) - Fiat Panda
- Citroen 2CV
- Vauxhall Corsa
- Seat Marbella
- Avoid adding your children to your own policy: If they are likely
to have their own car then it is advisable for them to start their own policy
from the beginning. Although this is likely to be more expensive to start
with it will enable them start building up their own no claims. By building
up their no claims drivers will benefit from cheaper premiums later on and
they will have access to a wider range of insurers.
- Finally, DON'T LIE: When you enter into a contract with an insurer
it is entered into in 'utmost good faith'. If you lie this can allow an
insurer to refuse payment in the event of a claim. During the policy period
you must keep the insurer up to date with any information which may change
the premium you pay. For example, if you change address then you are obliged
to inform your insurer. This is because your car may be more or less liable
to damage, or be involved in a crash. If you are caught speeding and points
are applied to your licence you must inform the insurer. Failure to inform
your insurer of any updated information may result in your policy being
deemed invalid.
Get a quick young driver quote |
All of the insurance products and services mentioned on this
page are introduced by Insurancewide.com Services Ltd, which is authorised
and regulated by the Financial Services Authority. Insurancewide?s service
is subject to its terms
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6 Insurance Rip Offs
