Smart Hacks to Get Your Car Insured and Enjoy the Ride
Owning a car is a dream that everyone wants to become a reality. Purchasing a car with your hard earned money is a milestone that signifies that you have become responsible and can manage your expenses and taxes. So when it comes to your prized possession, don’t forget to get it insured, as accidents or damage can cause expenses that can hard to handle.
According to the recent changes in norms, insurance has become expensive, especially for young drivers. According to the recent changes in policies, cost of insurance may rise to £75 for old drivers but in the case of young drivers (i.e. below 25 years), the cost may rise to £2000. The main reason behind this increase for young drivers is because the most serious accidents or crashes are caused due to inexperienced drivers.
Compensation paid to a victim will be increased, as the discount rate has been reduced to 0.75%. Also, the tax paid on insurance premiums will increase to 12% and the fuel price is also likely to increase. So how can young drivers afford car insurance?
- Don’t depend on one company: There are many insurance companies in the market offering packages at great prices. You shouldn’t simply settle for one that is renowned or suggested by car dealers. Browse websites online and check out various quotes offered by competitors. Acquire discount codes from bydiscountcodes.co.uk and apply to get covered at discounted prices. The whole point is not to select the first company you visit and explore the market.
- Do you have a No Claims Bonus? A no claims bonus helps drivers get no claims on an insurance premium for the first year and a discounted rate in consecutive years. This will help drivers pay less or next to nothing in the first year, with following years dropping to possibly 30-40% less.
- Schemes offered by the insurance companies: If you have been driving somebody else’s car and you have years of experience, insurance companies can offer plans that are great. These schemes will help you get the designation as an experienced driver and a reduced premium.
- Purchase small cars: Small engines are easy to maintain and therefore economical to insure. If young drivers don’t want to pay higher insurance premiums, they should purchase small or hatchback cars with small engines to save money.
Many drivers are opting out of insurance premiums because of the increase in price. But this is a huge risk that should not be taken. Follow these smart hacks and get your car insured at discounted prices and drive safe.
This is a collaborative post.