I’m a motors expert – here are the five best cars that could save you thousands on insurance
MOTOR experts have unveiled the top five cars that can save you thousands on insurance.
Research by Quotezone.co.uk found the Ford Fiesta to be the most popular car in the UK among 17-24 year olds.
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The Vauxhall Corsa, Volkswagen Polo, Volkswagen Golf and Renault Clio follow.
Despite being the third most popular car, the Polo is the cheapest car for young drivers at £966.04 per year.
Meanwhile, the Golf is the most expensive option at £1104.93.
However, the purchase and insurance costs of the individual models can vary considerably.
The difference between a 1-litre Polo and a 2-litre STI GTI is £10,000 and can be difficult to insure.
Engine size is not the only factor, as location, vehicle modifications, and previous penalties and claims can drive up insurance premiums.
Greg Wilson, CEO of Quotezone.co.uk, advised young drivers to research their first car thoroughly and have a clear picture of all potential costs before committing.
He said: “Right now it’s quite complicated for those who are entering the car market for the first time, looking at the most popular brands and wondering how to get what they want from their first car while keeping the cost affordable .”
“The best novice driver can do when researching their first car is to get an insurance quote right at the start.
“Comparison sites make it easy: just update the vehicle specs each time to see what’s affordable.
“It’s also important to remember that when assessing risk and formulating premium rates, insurers look to engine size, ease of parts procurement and the cost of repairs for each model – something motorists should also be aware of and consider when choosing one new cars.
Top Tips – How young drivers can get cheaper insurance
Check your mileage
When you take out insurance, you will be asked to estimate your annual mileage. The costs increase gradually, ie the more kilometers you drive, the more you pay. So try to be accurate and realistic in your prediction.
Park in a safe place
Car owners who use their garages, driveways or carports for overnight parking can make huge savings on their car insurance – parking on driveways rather than on the street can save you over £140 on average each year. Carport owners can do even better, saving an average of £230.
Avoid penalty points
Penalty points on your driver’s license may not only result in a hefty fine, but also increase your insurance costs. Drivers can expect rewards to increase by 5 percent for three points and 25 percent for six points starting with a clean driver’s license.
Consider switching to a smaller engine
Be sure to check the engine size and horsepower of your vehicle. Both can affect the cost of your premium. Also, some small engines have a turbocharger that can give them more power than expected, likely resulting in an increase in premium.
Keep changes to a minimum
It’s no surprise that installing a custom exhaust or installing lowered suspension can result in an increase in insurance premiums, but even seemingly innocuous changes like adding branding to a vehicle can impact costs.
Imagine a black box
Young drivers or those with penalties may be able to get cheaper insurance by opting for telematics insurance or black box insurance – which starts collecting driving data immediately. If you are a good and safe driver this can help the insurer see you as less risky and can result in a more competitive price.
Look for insurance
Car insurance is competitive and it always pays to look for the best deals. Three weeks before your policy expires, costs are usually most competitive and you must never allow your policy to be automatically renewed.