Your premium depends on a number of things. Here we tell you what the three main areas are and what you should consider before signing on the dotted line...
What cover do you need?
There’s no point getting expensive comprehensive cover on a £500 banger. If you crash it, chances are that the extra premium and excess mean you’ll have paid more than it’s worth. Third party cover with fire and theft makes sense for the majority of family cars up to around £4000. Most minor crashes can be fixed for a few hundred quid – less than the difference you pay for comprehensive cover. Expensive, rare or classic cars need comprehensive cover – anything else can be a false economy.
Excess
This is the first part of any claim that you pay yourself – the insurance pays the rest. Opt for a bigger excess and your premium comes down, because, as mentioned above, most accidents are relatively minor.
Risky business
Young drivers living in a city with a fast car, no garage, a dangerous job and soiled licence are a massive risk. The 58 year-old Reverend Smythe in Norfolk, driving a Ford Fiesta 1.25 from the church to his cottage, is not. You can’t change who you are, but now you know why it costs so much for cover.
Next - Making a claim
Previous - How to get cover for less
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