Car insurance is a legal requirement in the UK. The only exception to this law is when the car has a Statutory Off-Road Notice, or SORN. This means that the car cannot be driven on public roads legally, therefore doesn’t need to have insurance.
There’s no avoiding the cost of car insurance and it’s no surprise that it can end up being quite expensive. This is why it’s so important to compare car insurance quotes. Here at Choose Wisely we’ve teamed up with Quotezone to find you the best deals on car insurance and help you save money.
Third Party
This is the minimum level of cover you need for your car that is required by law. Third party car insurance protects other drivers when you’re on the road. This type of cover will insure you against the cost of any damage to a third party vehicle but won’t cover any damage to your vehicle.
Third Party Fire & Theft - TPFT
Third party fire and theft or TPFT is exactly the same as the third party insurance we covered above. The only difference here is that the insurance will pay out if your car is stolen or suffers any fire damage.
Comprehensive Cover (Fully Comp)
This is the most comprehensive cover you can get. It will cover everything in the above two types of car insurance as well as the cost of repairing or replacing your vehicle, no matter whose fault it was.
What is insurance excess?
Almost every type of car insurance will come with some sort of excess. This is the amount you will need to pay towards a new claim so that it can move forward. As an example, if you wanted to claim £800 from your insurer with a £100 excess, you would need to pay the £100 while the insurers pay £700. The bigger your excess is, the lower your monthly insurance payment will cost.
Even if you have been in an accident that actually wasn’t your fault you may still be required to pay the excess. However, this is a sum that you should be able to recoup once the claim has been settled. If the other party involved in the accident wasn’t insured then your provider may then choose to waive your excess.
Does my vehicle impact the cost of insurance?
A key part of determining the cost of your insurance is the vehicle you are looking to ensure. Things that will affect the cost of your insurance include:
- The make and model
- The vehicle value
- Security features
- The engine size
- Insurance group
- Age of the vehicle
- Current mileage
- Any modifications
Vehicles are grouped in a 1-50 system. Cars in the lower groups will be cheaper to insure than the higher groups.
Will my age impact my car insurance quote?
Yes, your age can have an impact on how much your car insurance will cost. Under 20’s and over 70’s will have the most expensive insurance. However, the older you are the greater your no claims discount may be, so this can help towards the cost of insurance.
How does my driving history affect the cost of my car insurance?
The amount of time you’ve held your license can affect the cost of car insurance. If you only have a provisional license or are new to driving then it’s more than likely that your insurance will be more expensive.
Another part of your driving history that affects the cost of car insurance is any penalty points you may have received. The more points you’ve had for speeding or other vehicle charges, the greater your insurance will be.
Does where I live impact my car insurance?
Where you live can impact your car insurance. If you live in an area of high crime, don’t have access to parking or a garage and if you’re in the city rather than the countryside, you’ll probably end up paying more on your car insurance.
How can I get cheap car insurance?
There are a few things you can do to get cheaper car insurance. These include:
- Choosing a car that’s in a lower insurance group
- Have a parking spot in a garage or drive. This means there’s less risk of damage to your car
- Install additional security features like a GPS and engine immobiliser
- Choose a higher excess by weighing up whether it will be worth it in the long term
- Adding a named driver who has more experience onto your policy can help to lower the premiums
- Be accurate about your mileage. Overestimating on your mileage can actually push up the price
- Build up your no claims to get a better discount off your premium
- Get a telematics policy or black box insurance. This is where you are monitored on how you drive and then all the information is sent back to the insurer. Abiding by the traffic rules will cut the cost of your insurance
Car Insurance FAQs
If you are the main driver named on the insurance policy and don’t claim anything within the year that you hold your insurance, then you will usually earn a no claims discount. You can build up quite a sizeable discount on your annual premiums if you are a safe driver.
