When it comes to insurance it’s a bit of a minefield but unfortunately it’s an important part of driving so we’ve given you a few pointers to help you out. This is part one of two regarding insurance so keep tuned for the next instalment soon.
Insurance Types:
1. Third party – This is the minimum requirement for insurance. It will pay out if you cause damage to a third party such as another driver or property. It will not pay out for your own vehicle.
2. Third party, fire and theft – This is similar to the first type of insurance but will additionally cover your own vehicle for fire or theft if it was stolen.
3. Fully comprehensive – This is the premium of insurance and is the best of the bunch however usually costs more. You need to weigh up the benefits of fully comp insurance against the cost of the vehicle.
Be realistic with your estimated mileage and be honest about where the vehicle will be kept overnight. Driveways or private car parks are cheaper than on street parking but don’t lie. By adding an additional driver to the insurance policy it usually decreases the premium however don’t try to pass the car off as your parents and become a named driver if you are driving the vehicle everyday, it is illegal and the insurers will catch you out.
You may also want to think about your insurance excess, by increasing the initial amount you are willing to pay in the event of a claim you can again reduce your insurance premium. It is usually worth using comparison sites to get initial quotes and then calling up to haggle a deal.
If you wanted a starting point, Marmalade provide excellent short and long term insurance cover specifically for learner and newly qualified drivers at competitive prices. Click here to find out more…
Finally, you will find that after your first years insurance and you obtain a years no claims discount, your policy price will begin to drop quite significantly and will continue to do so for a few years providing you don’t have a claim. After 25 is when the premium reduces further as you are statistically out of the high category of vulnerable drivers.
We hope this gives you a few ideas on what to look for where insuring your little motor and if your looking for a quote check out Marmalade insurance here, their great!
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