1. Choose the Right Car
Smaller, low-powered vehicles occupy lower insurance groups. If possible, avoid purchasing a car that is over ten-years-old or has been modified, these are generally more expensive to insure. Buying a car that has an engine smaller than 1.4-litres – especially for the first year, is also advisable.
We know it probably wont be your dream car, but when you first start to drive you need all the advantages you can get to make sure you get a fair insurance quote. So being picky about your car can really pay off for you, there’s plenty of time to search for your dream car as you gain experience and build up a no-claims bonus.
2. Compare Quotes
Use comparison websites or brokers to find the best deal. Finding the right insurance can be head wrecking, but it’s worth having patience. Just because the first three direct quotes you got were more than you’re comfortable with doesn’t mean every company is going to be.
The easiest thing to do is to use a broker that is able to navigate the insurance world for you and give you the best deal every year so you know if you’re better off switching insurer or staying with who you’re with. Luckily for you all you need to do is click this link and we’ll help you do just that.
3. Add a Named Driver
Include an experienced driver on your policy (legitimately). By including an experienced driver on your insurance policy you are lowering the risk for insurance companies as they can see that some of the time a more experienced driver is behind the wheel. Your premium should reflect this fact, you may also benefit from becoming a named driver on someone else’s insurance. That’s an avenue we talk about here.
Alongside raising an insurance companies trust in you, the simple fact is you will be able to split the cost of the insurance with someone else, potentially saving both of you money.
4. Telematics Insurance
Consider, where this is an option, installing a black box to reward safe driving. This works by gathering data for an insurance company, letting them see info such as how fast you generally drive, how quickly you brake and other driving habits. If you are a safe driver in general this will begin to reward you with lower insurance premiums as you prove to your insurer that you are less of a risk.
As an added bonus it incentivises safe driving, helping you to internalise goo driving habits early and the roads safer for yourself and others.
5. Increase Excess
Choose a higher voluntary excess if you can afford it. This is a bit more of a trade off, by taking on a higher excess you are accepting more of the risk in case there is a crash. That does mean that you will receive less of a pay-out from your insurance company if you need one. For many new drivers who may not be entirely confident in their driving ability this is a risk they aren’t willing to take.
If you are willing to take the risk though just remember that while you can’t entirely remove the risk of an accident, you can minimise it with safe driving habits and practicing full awareness of the road. If you’re confident in your driving this is an option that can save you a lot of money.
6. Complete Driving Courses
Advanced courses may qualify for discounts on insurance premiums. By attending and completing advanced driving courses you are signalling a lower risk for insurance companies. By demonstrating that you are a good driver, and one that has learned how to handle difficult situations, an insurance company is much more likely to reward you with lower premiums.
Even more important than lower premiums though is the fact that advanced driver courses allow you to become genuinely safer on the road. In time this will also lower your premiums, but it will also keep you safe and allow you to drive with minimal wear and tear on your car.
7. Limit Mileage
Declare your lowest realistic annual mileage. Car insurers place a high value on insuring motorists with low mileage. The less they drive, the less the risk of accidents. Many of us make the key mistake of over-estimating our mileage or rounding up to the nearest thousand.
A common error made by drivers is where they estimate mileage at ‘around 10,000 a year’. The difference in policy cost between 9,999 miles per year and 10,000 miles a year can be as much as 10pc with some insurers. So before you seek a quote, assess the mileage that you are likely to clock up a year and if you think it will be no more than 9,999 miles a year, get a quote on that basis.
8. Pay Annually
Avoid interest charges on monthly payments. You’ll usually pay extra for car insurance if you pay it in instalments over the year. For example, your car insurance could easily be 30pc – or more than €100 – more expensive, if you pay your premium in monthly instalments instead of upfront, though this will depend on the insurer. So if you can at all, pay your annual car insurance premium in full upfront.
9. Improve Security
Add alarms or trackers to your car. Once again this is about limiting the amount of risk an insurance company is taking when covering your vehicle. If a car is easy to steal is represents a greater risk, which means higher premiums for you. Trackers which allow a stolen car to be tracked, immobilizers, alarms, and any other security features will lower the chances of a huge pay out for the insurance company and that means you get charged less.
10. Drive safely and stay penalty point free
Poor driving behaviour could see your car insurance premium rocket and you could also struggle to get insurance in their own name. Having three penalty points on a driving licence could push up a driver’s motor insurance premium by about 10pc, while ten penalty points could see a driver pay more than twice as much for insurance as a driver who is penalty-point free, according to recent research by Peopl. Insurance. Motorists could knock hundreds of euro a year – or even more than €1,000 – off their car insurance bill by keeping their driving licence penalty-point free.”
