Cracking the Car Insurance Code

Car insurance can be a nasty business.  You think you’ve got it sorted and ready to go when a new fee appears out of nowhere and scuppers your quote.  With a large selection, you’d expect a large scope of prices, yet while you will find differing offers the chances of you finding something substantially cheaper are a bit limited.  So what do you need to look for in car insurance?  What do you need to look out for with all these companies vying for your custom?  If you really want to learn how to break the car insurance mystery, then you’ve arrived at the right place.

Oh, we can’t insure you…

The first thing to consider is your insurance bracket.  There are a few things to look out for:  women are insured for less, No claims are worth a lot and men aged 17-23 are going to find life hard.  It may seem unfair, especially if you’re an 18 year old guy who is a very careful driver, but the insurance companies have their reasons.  Women have a lot of accidents, but they’re generally very, very small and don’t cost anything.  Men aged 17-23 have the most accidents with the highest cost per accident of any peer group out there.  You can therefore expect to be charged a premium.

As such, more specialist insurers have popped up alongside the traditionalists like Aviva or Direct Line.  Companies like Saga for the older driver, Sheila’s Wheels for women or Young Marmalade for young drivers have popped up with special rates for their target audience only.  Beware, however, as these quotes are often worse than their mainstream competitors.  Whichever group you are in, while it is a great idea to check out all these individual insurers, you may find out the best deals are back at the mainstream after all.

A Dodge Viper, you say?

Next comes your car type.  Obviously, an insurer is going to prefer a cheap car that costs next to nothing to fix.  Therefore, your small engines Vauxhall Corsas and Ford Fiestas are going to work out a lot cheaper than a huge sports car such as a Dodge Viper.  It doesn’t matter if you have the cash to buy a fancy sports car at 18 if you cannot insure it.  The insurers won’t offer you a massive quote, no; they’ll just refuse to insure you.  Those thousands you just spent don’t seem like such a good investment now, do they.

It’s important to cut your cloth accordingly when buying and insuring a car, therefore.  The insurance company will more likely pay attention to your needs if you’re driving a suitable car.  The other thing to consider is your location.  As the presenters on Top Gear highlighted a few years back, your postcode – even just one block over – matters a lot when it comes to car insurance.  While one area of North London may have low premiums, its neighbouring postal area may be uninsurable.  If you’re unlucky enough to live on the border, but in the uninsurable block, then you’re in a spot of bother.  You are able to speak to a number of insurance companies individually and let them know your exact location and more specifics and some will insure you but your premium will be higher.

One more thing to consider here is where the car is kept.  If you are going to keep the car in a garage, then your premium will be less than if it is to be kept on the road.  Likewise, a block of flats is likely to incur a higher premium than a semi-detached.  These are just some of the little differences that people don’t think about when looking for car insurance.

Are You Sure You Didn’t Add an Extra Zero?

So, know you have your quote and, almost predictably, it looks a bit on the large side.  With some insurers you are able to barter, but as more and more companies are absorbed into a few multinational corporations, this individuality is slowly draining away.  If you’ve exhausted all your other options, you’re probably left with no choice but to pay a premium that’s more than you were bargaining for.

Yet there is another option now.  Much like the special offers at Tesco, car insurance companies have started to issue promotional codes that give you added extras or discounts absolutely free.  Whereas you were stuck with that huge offer before, now you may be able to get 10% knocked off the price thanks to a special online discount.

All the big companies have jumped in on the act, so if you’re after Tesco, Direct Line, Saga or Aviva car insurance promotional codes, then you can take a good look at an online depository.  These sites collect these codes for their users and make them easy to find.  So you never miss out on cheap car insurance again.

Comments

  1. says

    Really the best thing for your wallet is to not be loyal to your insurance company…sad but true. By shopping around every year (via a broker or on your own) you get to encounter a variety of insurers that are aching to earn your business and steal you away from where you currently are.
  2. fred drake says

    according to me it is better to have a small, non expensive cars……because expensive sport cars will only elevate the insurance rates and are prone to have accidents:)

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