So you have got your first car, you've just passed your test and you can't wait to get out on the open road and test out your new wheels. You're ready to enjoy the freedom of having your own transport. However the cost of insurance is a hurdle you are facing. How can you afford to insure your pride and joy, and get that car out of the driveway and onto the road?
We've compiled a list of our top 5 tips on how to keep your insurance premium lower if you're a young or first time driver. If you take on the following points, we'll be sure to give you a quote that is one of the most competitive in the market place.
The bad news (especially if your male), young and 1st time drivers are statistically a higher risk, and most insurers will put a hefty loading on your premium for this reason alone.
The good news is, QUINN-direct aren't like most insurers, and we look more favourably on first time drivers. We also offer introductory discounts to first time policy holders who have previous named driving experience on another persons policy.
Don't choose a high power engine, 'Hot Hatch' or luxury car as your first vehicle. These types of car are typically more expensive to insure, especially for young and 1st time drivers. We'd recommend buying a car that has a smaller engine size, and is of a standard model, and free of modifications. A 3 or 5 door hatchback in around the 1 Litre capacity, or a car in the insurance below group no. 4 may be best for you. (see parkers.co.uk for groupings)
The lower the value of your car, the cheaper your car insurance is likely to be. Don't go out and buy the biggest flashiest, most expensive car you can afford. If you are reading this article, you're looking at ways to save money. High value, flashy cars are considered a high risk. Again if you keep to a good, reliable second hand car, that doesn't cost the earth, this will help reduce your premium. (See suggested cars in point 1.)
Get third party fire and theft cover. Third party cover is the minimum amount of cover you need to have to legally drive on the road. This type of cover will protect you against damage to other people's property or injury you may cause to them.
Third party fire and theft also covers you for loss or damage caused by fire or theft to your own vehicle. It does not cover any accidental damage you may cause to your own vehicle.
Comprehensive cover is a bit more expensive, however in addition to what is covered by third party fire & theft, it protects you for accidental damage to your own vehicle.
All above are obviously subject to the terms and conditions of the policy.
Be sensible and drive safely, and avoid penalty points or convictions. Any points or convictions relating to dangerous driving will undoubtedly influence your premium. Never ever drink and drive, or speed. A young driver with any of these type of convictions on their record, is likely to find it impossible to get insurance and if they do, its likely to be so expensive that it won't be worth your while.
If you keep accident & claims free for the duration of the cover, when you renew your insurance you will be entitled to a 'No Claims Bonus' discount for the previous year of safe driving.
When you are getting your insurance quote, limit the cover to yourself, and the minimum number of named drivers necessary. If you add many named drivers this increases the risk on your policy, and pushes your premium higher. You may choose to have 'Open Drive' on your policy. This feature entitles other full licence holders to drive your car with Third Party, Fire and Theft cover, once they have your permission. This feature however will again drive up the cost of your policy.
We understand that getting insurance cover for the first time can be a costly business, so if you adhere to this advice, you can reduce your insurance premium. Remember, that driving without insurance is illegal, and if you are involved in an accident that is your fault, you will have no protection against the unlimited expense involved, not to mention the legal consequences of not having insurance cover.
Its not all doom and gloom, if you start driving now and begin to build up a history of accident free driving with no claims, it won't be long before you will have a good driving record and a 'No Claims Bonus' entitlement that will dramatically reduce the cost of your cover.
So, if you are a young or 1st time driver, and you want to get on the road, talk to QUINN-direct by calling 1890 89 1890, or go online to www.quinn-direct.ie to get a quote and buy online
QUINN-direct, QUINN-direct Insurance, Quinn Insurance and QUINN-healthcare are registered business names of QUINN Insurance Limited. QUINN Insurance Limited is regulated by the Financial Regulator in Ireland and regulated by the Financial Services Authority for the conduct of UK business (number 202942). This can be confirmed at www.fsa.gov.uk/register or contact the FSA at 08456061234. QUINN-Insurance Limited is a private company limited by shares and is registered in Ireland No. 240768. Registered office: Dublin Road, Cavan, Co. Cavan, Ireland. QUINN-life Direct Limited is regulated by the Financial Regulator. Quinn-life Direct Limited is a private company limited by shares and is registered in Ireland No 292374. Registered Office Dublin Road, Cavan, Co. Cavan, Ireland. All rights Reserved. Copyright Quinn Group.
