Is it cheaper to insure a used car?
Used cars are usually cheaper to insure because they are seen as less valuable than new vehicles. However, it’s not always the case.
There are other factors that determine how much you would pay. These include your personal driving history and the level of coverage you choose.
How to Get Cheap Car Insurance
While new and young drivers under 22 can find it costly to insure their vehicle of choice, even those who have been on the road for some time can face a similar challenge. To ensure you get the best possible deal, read our steps below to lower premiums.
Shop around
This may seem like an obvious thing to say, yet many people simply don’t do it! Saving of hundreds of pounds can be achieved simply by pitting one provider against another. A word of caution however – just make sure that you are comparing like for like cover. While some policies may seem cheaper they may not offer the same level of cover. This is where price comparison sites can come into their own. Platforms such as confused.com or moneysupermarket.com all aim to save drivers money. Simply pop your details in and let the site do the rest. You will then have a number of options to choose from.
Protect your no-claims bonus
Achieving a long no claims bonus is the single best way of cutting car insurance costs in the first place, and a good way to continue this is to protect it. While it may increase the premium by a few pounds, if you consider the offset cost against the potential loss of a 90 percent discount on premium of a few hundred pounds, the choice is very clear.
Secure your car
Fitting an approved alarm, immobiliser or tracking device can achieve a discount of 5% or more. It's worth remembering that many newer cars come with these as standard, so if you are insuring a brand new vehicle make sure you check if you have them and let your insurance company know.
Cover fewer miles
While this may be easier for some than others, the fewer miles the car covers the greater the saving. For instance a cut of 5,000 miles per annum could save a typical 35 year old driver around £50 in premiums.
Use your garage
Insurers like cars to be kept in garages overnight as it reduces the risk of damage or break-in. Aside from the benefit of not scraping ice off in winter, there is also more likelihood of the car being stolen if parked on the road.
New car package
When changing cars, and if in the market for a brand new one, asking dealers what offers they have that include free insurance is always a good idea. Manufacturers have recognised that offering cars with free insurance (and often finance options too) is another way to appeal to customers. So if you find a deal that works for you, it's certainly worth considering the whole package.
