posted 7 years ago

How To Reduce Motor Insurance Premiums

Reducing motor insurance premiums is a national pass time for young motorists.

Reducing motor insurance premiums is a national pass time for young motorists. The cost can be higher than a malfunctioning satellite, after all, forcing many teenagers off the road and back onto their skateboards. As such, What Car? has revealed ten money saving tips:

- Increase your excess. Boosting the amount you pay in the case of an accident can have a direct effect on your premium. A £400 excess increase can bring down your premium by almost the same amount. (Average saving £277.)

- Stick with a lower trim. Going for the top-of-the-range trim level might well bump you up an insurance group. If a 17-year-old driver upgrades from a Studio to an Edge trim on his Fiesta, his costs could jump by around £400. (Average saving £432.)

- Research the level of cover. Third party or third party, fire and theft cover is usually cheaper than comprehensive insurance, but the average saving is so small that we would always recommend choosing the best cover you can afford. (Average saving £53 - third party only.)

- Add a parent. Convincing a parent to join you on a policy can bring down the costs significantly. Our sample driver reduced his premium by more than £1,100 just by adding his 52-year-old accountant mother to his policy. (Average saving £1,005.)

- Extra training. Insurers appear to be undecided on the merits of the most popular driver training: Pass Plus. Some don’t offer any discount for taking the six-hour course, while the average premium reduction for those who do is £456. Check with your insurer before you commit. (Average saving £456 - if offered.)

- Get a no-claims discount. Many insurance companies will now let you build up a no-claims discount on someone else’s vehicle, so try to convince a parent to let you use their car. (Average saving £253.)

- Leave out the mods. Some insurers might not charge you for adding alloy wheels, but that full body kit could end up costing you more in higher insurance premiums than its price suggests. (Average saving £305.)

- Stick to a curfew. Restrict your driving hours to between 6am and 11pm. This may not be for everyone, but it could save you cash. (Average saving £492.)

- Stick with a smaller engine. A step up from a basic 1.25-litre Fiesta to a still-modest 1.4 can bump up insurance premiums by more than £250. (Average saving £265.)

Shop around. Start your search on comparison websites, and then ask companies directly if they can beat the lowest prices you find.

I got insured at 18 for a 2009 mini copper s which I still have and use only at weekends and night time. I had a 1.4 58 plate punto before and had an insurance premium of £1400 fully comp I changed the car to the mini and the insurance went up by £900! Bargain this was with admiral £2300 for a group 15 insurance car and I was only 18 and had one years no claims. After the first year of insurance they wrote to me with a renewal of £5400 fully comp with 2 years no claims crazy! So I then decided it was time to sell the car till my dad came up with the idea to put the car on a works fleet policy, this meant It was on there and I was fully comp and had the use of any van I wanted to anytime! The price... £900 for the year bargain, always ways around things nothing illegal all completely legal just keep digging and you will succeed

Car insurance for young drivers is rip off with bells on. My 20yr old son cant get insuance for less then 4K, mainly due to area we live in i agree that people making false claimes should have there eyeballs nailed to a wall, but punish them not everybody who lives in that area. Even as a fully quallified mechanic my son still cant get on the insurance at his workplace as it would push the owners excess up by £750. INSURANCE IS AS FAR AS I KNOW THE ONLY LEGAL REQUIREMENT GOVENED BY MARKET FORCES, you have to have it but who decides the price ?????

Many insurances are complete and utter cons. The Company will fight tooth and nail not to pay in the event of a claim. Get the cheapest you can find, and keep badgering the operator - some will knock off £100 just for complaining - but do it in person, not by email (you won't get a reply in many cases). I really wish Richard Branson would start insuring drivers, with a £200 'all in' policy! I have two cars, a petrol MGF sports (a rocket), the other a diesel MG ZT. The MGF is only £165 per year. The ZT is £360 a year. Doesn't add up to me as I thought 'the slug'(ZT) would be much cheaper. If the operator won't reduce by at least £100 tell them you're going somewhere else.

The insurance companys show no consistency I have two sons 1 is 18 and the other is 22 when my eldest passed his test at 17 we paid 650 for him to drive a 1.9 diesel golf 4 years later we wanted to put my second on the same car 4200 so we changed it for a 1.2 polo at a cost of 1900 I wanted my sons to drive a car that was safe and economical but we have been forced to sell the golf and buy a car that is not as safe !

Insurance don't only put a hole in new drivers pockets but also people that have been driving for 14 years with 9 years no claims that's me last year I was paying £38 a month this year £64 a month its rip of Britain my partner has been driving 6 years with 3 years no claims and is younger than me 27 and I'm 31 and she pays the same now I do wonder why these youngsters drive with no insurance it's to dear for anyone now if everyone ditched there cars and bought a moped I bet they would put the insurance sky high on them it's ridiculus

For the last week I have been researching insurance costs for my 17 year old grandson. He passed his test with two minor faults on April 5th. He has been driving off road since he was 13. On a VW Polo 1298cc E65 - cheapest quote with Coop using a smartbox at £3422 (full comp with his mother named). Dearest with Aviva at £8571 tpft and £8266 full comp. No chance at these prices of getting him on the road. I wrote to the MP, David Bottomley about the costs but just a reply more or less agreeing but really a bit of a whitewash.