All anyone who has just passed their driving test can think about is what type of car they’ll be cruising around in as soon as possible.
Months of planning and budgeting are likely to have gone into it but one aspect that will have been less researched is the types and costs of insurance.
Even in this day of quick and easy car insurance comparison sites, whether you’re taking out car insurance for the first time or looking to renew with a better deal, plenty of careful considerations should go into it.
This will help you avoid costly mistakes.
Many first time car buyers will just opt for the same insurers as their parents, or take a friend’s word for a particular company.
This avoids shopping around and means you may miss out on a better deal elsewhere. Everyone has different needs too, so the insurance for your family and friends may not suit you.
Sticking a parent down as the main driver is an option many consider to cheapen the cost. However, this is fronting which invalidates the cover and should be avoided.
Car insurance comparison sites are great for comparing many types of cover but they often push the cheapest deal to the top.
There is a reason these deals are usually the cheapest; they don’t provide as comprehensive cover as required. Instead spend plenty of time deciding what you want from your policy and researching suitable deals.
Going direct to a respected insurer such as AXA and asking for a few quotes from them and others takes more effort but is worth it in the end as you secure enough cover at a decent price.
The type of car has a huge impact upon your insurance costs and for new drivers this is especially true. There are some vehicles you should steer clear of when purchasing your first car.
Look at some reliable and affordable to insure vehicles before deciding you desperately need that brand new Honda Civic (with the monthly instalment that’s nearly a third of your wage).
Paying for your insurance in instalments is another way to rack up the costs though. It may not be a huge difference but paying monthly will incur monthly fees for the hassle, rather than paying up front.
If you really want a sensible and solid insurance policy you’ll be prepared to save up that little extra beforehand.