Running a car seems to be an ever increasing nightmare as the cost of fuel, road tax, insurance and congestion charges affects the pocket of many motorists. The insurance is one of the most expensive aspects, especially if you are young or male or have a high performance car.
As people look for ways to lower the cost of motoring one of the most expensive mistakes they can make is to provide false information to their insurer in order to try and reduce the premiums. It has been estimated that one in ten people tell lies in an attempt to keep the price low, whilst a further 3% of drivers deliberately keep secret any driving bans for speeding or drink driving.
Deliberately withholding or choosing not to tell the truth to insurers is a very costly mistake, not only is it illegal, if and when you are found out your insurance will automatically be deemed as invalid. So, rather than resort to breaking the law there are a number of ways which can help to keep your premiums affordable.
The level of cover you opt for will have a huge impact on the cost of the policy. The lowest legal level of cover is third party only, however this will not provide you with any protection or pay out any money if you are the person deemed to have caused the accident.
The next level provide third party cover as well as cover for fire and theft. This option may be very beneficial if you live in a high risk area, which is typically the larger towns and cities across the UK.
The type of car you drive will also have a huge impact on the insurance costs. Basically the larger the engine size the higher the premiums will be. High performance cars, sports versions and limited editions with special features will increase the costs.
Keep your premiums lower by not carrying out any modifications, which includes flashy artwork, additional spoilers, flared wheel arch etc. The only modifications which may be acceptable are those which enhance security, however many insurers will only recognise approved security systems, as such you will need to check that you are complying with the terms and conditions of the policy before enhancing your security. Having approved additional security can be rewarded with further discounts which will help to lower the premium costs.
It may be worth considering paying small claims out of your own pocket as this may help you to keep your no claims bonuses, however you should be careful as this may also be breaching the terms and conditions of your policy. As no claims bonuses provide such huge discounts there are those who will deliberately ‘knock’ into your car and suggest you pay cash rather than go through the procedures of insurance claims. Be very wary if this occurs as this ’scam’ is being used as a quick way to make cash by the unscrupulous.
Cheap car insurance can be found if you do your homework and shop around for the best deals currently be offered and if necessary change insurance companies every year if it means you can keep the cost of motoring affordable!
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