Car drivers are being urged to spend as much time shopping around for their insurance as they do when purchasing their new car.
‘Insurance premiums have been rising at alarming rates over the last few years, but our consumer research team has discovered that drivers who take the time to conduct a thorough search can save £150 on their policy," says Rob Aherne, the editor of What Car? magazine.
‘With the number of escalating costs that drivers can do nothing about such as fuel, tax and congestion charging the majority of road users today cannot afford to pay over the odds for their insurance.’
Insurance premiums have risen by 57% over the last five years according to figures from the Automobile Association. One of the main reasons for the increase in premiums is to recoup losses from uninsured drivers. ‘Accidents involving uninsured drivers cost £500 million a year – enough to put £30 on the average premium,’ said a spokesman for the Association of British Insurers.
What Car? magazine is commencing a campaign to encourage the DVLA to record
details of a driver’s insurance policy against their driving licence and
vehicle details. Rob Aherne said: ‘This valuable information would enable
the authorities to root out uninsured drivers which could result in reduced
premiums for the consumer.
‘It is unjust that law-abiding drivers are penalised by the system’s
inability to clamp down on the lawless minority on our roads.’
10-point guide to help drivers obtain the best quote they can.
1. Check the insurance group before you buy your car.
2. Shop around for the best quote.
Consider using the internet and a broker.
3. If you can't pay for your insurance in one lump sum then consider getting
a loan to pay for your insurance. If you are considering paying for your insurance
by monthly instalments, look at the apr – they can range from 7.4% to
20%. That cheap quote is suddenly not quite so advantageous.
4. If someone else regularly uses your car then consider adding their name to
your policy as a named driver rather than have an any driver policy.
5. Increase your excess.
6. Take an advanced driving course.
7. Limit your mileage.
8. Protect your no-claims bonus.
9. Slow down.
- Currently 26% of online insurers will refuse to cover a driver with two speeding
convictions, rising to 42% for people with three or more.
10. Tell the truth.
Save on your car insurance. Get an online insurance quote now.
