Car Insurance FAQ

How can I cut my  incsrance costs?
You should always shop around and compare quotes from different insurers. Never renew your insurance without finding out if you can renew cheaper elsewhere.

Where do I go for quotes?
Most insurance companies can be accessed bvis money supermarket and go compare

What will they want to know?
The starting point is the type of car you want to insure. There are over 20 different insurance groups, with age, value, performance, safety factors, security and the cost of replacement parts being the main factors that dictate the category your car falls into. Clearly smaller less powerful cars are often cheaper to insure. They will alsowant to know details about you and any other people who will drive the car.

What is the difference between “Fully Comprehensive” and “3rd Party, Fire & Theft”?
The main difference is that Fully Comprehensive insurance covers you for damage to your own vehicle in an accident whether it was caused by you or not. 3rd Party insurance only covers you for damage to other people, their property if you are at fault but does not cover you for damage to your own vehicle.

Which is best? A medium priced or expensive car should always be insured fully comp. TPFT is only worth considering if your car has little or no value.

What other factors are there?
Your age, your location and where the car will be kept overninght – you will usually pay more if you live in a city than in a rural area. Parking your car on the street overnight, rather than in a garage, will also mean higher premiums.

Will my job make a difference?
It could do. Some insurers might class you as higher risk if you are a sports professional, entertainer, barman, chef or builder, among other occupations. If your job could be titled in different ways it might be worth trying out different options with your quotes.

What is a no claims bonus
You typically get a 30% discount (NCB) after one year of claim-free driving. This will normally rise to 65% after five years without a claim. But this will vary from one insurer to another. Some go up to a 70% maximum NCB, while others specialising in younger drivers will give higher no claims bonuses at an earlier stage. If you change insurers you will need to provide evidence of how many years of no claims bonus you have accumulated with your previous insurer.

Will I automatically lose my no claims bonus if I make a claim?
No. It depends whether the claim is a ‘Fault’ or ‘Not fault’ claim. This is not just a question of whether or not you were to blame for the accident, but depends on whether your insurer can recover all its costs from someone else.

Many insurers now offer the opportunity to pay a bit more to protect your no claims bonus. The rules vary, but you may be able to make two claims in three years, for example, before your bonus is affected. Protecting your bonus will not stop your insurer from hiking up the premium at renewal following a claim. But at least you won’t lose your no claims bonus on top.

How can I keep my insurance cost down?
Restrict insurance cover to one or two named drivers, rather than for anyone to drive. Have a bigger excess than the standard £50 or £100. Downsize to a smaller car.  Shop around for cover.

Expensive cars are expensive to insure