Car insurance is a major part of owning a car – and unfortunately, it can be a particularly heavy burden for younger drivers. The newer and more expensive the car, the higher the insurance costs can be – which is one of the key reasons why so many younger drivers prefer to drive second hand cars, exactly like the kind you’ll often find in our online salvage car auctions right here at RAW2K.
So, if you’re a relatively new driver in the market for a starter car, here are some top tips for levelling out the cost of your car insurance!
The key factors that affect insurance premiums
OK, so let’s start with the basics. Insurance premiums are generally determined by various factors, many of which are within your control (although there are some that aren’t). These factors include the type of car you drive, your driving history, your location, and how you use your car. Insurers also consider the likelihood of theft, the cost of repairs, and your age.
For example, driving a car with a smaller engine and lower market value can reduce your insurance costs. Plus, maintaining a clean driving record and avoiding accidents or traffic violations will demonstrate that you are a responsible driver, which can lead to lower premiums. Of course, if you’ve never owned a car before, those elements won’t factor in hugely, as you won’t have had a chance to prove what kind of driver you are – but they’re worth bearing in mind for the future!
Choose the right car for lower insurance
As we’ve touched on above, the car you choose to drive can have a significant impact on your insurance premiums. Insurers typically offer lower rates for cars that are considered safe, reliable, and inexpensive to repair. Generally, smaller, less powerful cars are cheaper to insure than high-performance vehicles.
When choosing a car, it’s a good idea to consider its safety features, such as airbags, anti-lock brakes, and electronic stability control. Cars with high safety ratings are often less expensive to insure. Additionally, vehicles that are less attractive to thieves, such as those with good security features or those that are less popular, can also have lower insurance costs.
Don’t write off telematics or black box insurance
Now, we know that most people probably won’t like the idea of having their driving monitored – but if you’re willing to take the plunge, the savings can often be worth it.
Telematics, or black box insurance, uses a small device installed in your car to monitor your driving habits. The device records data such as speed, braking patterns, and the time of day you drive. Insurers use this information to assess your driving behaviour and adjust your premiums accordingly.
Young drivers who exhibit safe driving behaviours, such as avoiding late-night driving, adhering to speed limits, and driving smoothly, can benefit from lower premiums with telematics insurance. This type of policy rewards responsible driving and can be an excellent way for you to demonstrate your commitment to safe driving practices, resulting in significant savings on their insurance.
Shop around and compare quotes
Without question one of our more important top tips – compare, compare, compare. One of the most effective ways to lower your car insurance is to shop around and compare quotes from different insurers. Insurance premiums can vary widely between providers, so it’s always a good idea to obtain multiple quotes before making a decision.
Use comparison websites to get a range of quotes quickly and easily. Additionally, consider contacting insurers directly to negotiate better rates or inquire about any discounts they may offer. When comparing quotes, make sure you’re looking at similar levels of coverage to ensure a fair comparison.
Build up your no-claims discount
Again, this is more of a long-term goal rather than an immediate concern, but it’s still a really good one to bear in mind. A no-claims discount (NCD) is basically a reward for drivers who have not made any claims on their insurance for a certain period. Building up a no-claims discount can lead to substantial reductions in insurance premiums. For young drivers, this can make a significant difference over time.
To build up your no-claims discount, focus on driving safely and avoiding accidents or situations that might lead to claims. If you do need to make a claim, consider whether it is worth it, as making a small claim could lead to higher premiums in the future. By maintaining a clean claims history, you can accumulate a larger discount, which will help lower your insurance costs in the long run.
Those are all the key tips from us – and of course, you may well discover plenty more of your own along the way! As for us though, if you’re looking for your very first starter car, or a second-hand one to replace your trusty runaround, you’re in exactly the right place.
With us, you can take your pick from a huge range of salvage cars to choose from in our online car auctions, including not just models from the likes of Ford and Volkswagen, but also other world-famous brands like Mercedes, Honda, and Peugeot. Our auctions are refreshed on a daily and weekly basis, so there are always bargains to be found. Why not take a look around, and see what you can find?
