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Think Like an Oldie! Top Car Insurance Tips for Younger Drivers
Although there are many advantages to being young, unfortunately cheap car insurance isn’t one of them. Insurers recognise that young people are more likely to make a claim against their policy and therefore charge stiff premiums for cover. Especially for policy holders under the age of twenty-five, motor insurance can be particularly pricey. So what is it about older motorists that makes them more attractive to insurers and means they have access to cut-price premiums? Whilst you may not wish to mimic Oldie behaviour in every respect, adopting their motoring habits and approach to insurance is likely to save you a significant sum. Find out here how to act like an Oldie in order to obtain surprisingly reasonable vehicle insurance.
Drive Like An Oldie – Slowly and Carefully
Whilst not all mature motorists proceed at a sedate pace, the majority do and it’s one of the main reasons why more experienced drivers have fewer accidents. If you want to convince insurers you’re a low risk driver, why not opt for black box insurance? This involves a telematics device being fitted to your car which collects data on speed, braking force and mileage. This information is used by insurers to ascertain whether the vehicle is being driven carefully, which in turn determines the premium price. Careful drivers get a lower, preferential rate. Even if you don’t opt for black box insurance, driving within the speed limit and attentively means you are statistically less likely to be involved in an accident, so it’s well worth getting into good driving habits now.
Many more mature motorists try and minimise their car usage, preferring to walk short distances for the exercise and to reduce their carbon footprint. Less mileage results in lower premiums so try and keep your car usage minimal if possible. Avoid rush hour driving, as accidents are more frequent during peak traffic times so insurers charge more if vehicles are used for regular commuting. Some black box insurers offer pay-as-you-go insurance, where cover is paid for on a “per mile” tariff. Particularly during the first few years of your motoring life, this can prove to be a more affordable form of insurance than an annual policy. If you only drive occasionally, short term car insurance may be more economical. This type of insurance provides similar cover to annual insurance but covers a much shorter time period; typically anything from a day to a month.
Be Money Savvy
With decades of hard work and budgeting behind them, older people are more likely to know and employ a number of useful tactics when purchasing their insurance. Strategies which result in a better policy for your pound include getting multiple quotes, giving insurers as much information as possible so that they can provide you with an attractive individualised quote and paying for a policy in one instalment rather than spreading the cost over twelve months (paying in instalments often incurs additional interest charges). In addition, you will find that mature motorists take time to read the policy quotes they receive, checking that they aren’t inadvertently paying for unwanted extras such as a courtesy car or breakdown cover. Spending a few hours on the phone or accessing online quotes may seem like a lot of effort, but it can really make a difference to the price you pay for cover.
Forget the Hot Hatch – Drive a Car Like Grandma’s
Large bore tail pipes, alloy wheels and a well-tuned engine may make a trip to the supermarket an adrenaline filled adventure, but the premium you pay to insure a modified car will mean you can’t afford many groceries when you arrive! For insurance purposes, most modifications and additions mean an enhanced cost for cover. The only exception is the post-manufacture fitting of an intruder alarm or other anti-theft measures. Insurers allocate each make and model of car to one of fifty different insurance groups. The lower the group, the less you pay to have the vehicle protected. Generally, the sportier the car the more you pay, so for more reasonable insurance opt for low capacity, small, economical cars.
Although younger motorists will almost invariably end up paying more for their insurance than an older driver, by following the suggestions given above it’s still possible to find suitable cover at an affordable rate, even if you’ve only just passed your test. By making sensible choices about which vehicle you use and how you drive it, not only will you be laying the foundations for a safer motoring future, you’ll also be adopting habits which will minimise your perceived risk to insurers, resulting in lower premiums. Why not begin obtaining a range of affordable insurance quotes now to help keep you on the road for less?