Five tips for insuring your first car
First car buyers need to be smart about choosing a vehicle — especially when it comes time to insureInsurance 101: if you’ve got a car, you need insurance. End of lesson.
Whether you are a young driver buying your first car (or indeed you're a parent helping someone with their first automotive purchase), a few smart decisions early on can make a big difference to the ownership experience.
Whether you drive a bomb or a brand-new car, everyone needs insurance. And the sting of annual insurance premiums is real. We understand that you can’t do anything about your age, if you have a garage and definitely not your driving history, but there are some factors you can control.
Here are five things that can impact your dollars spent on an insurance policy. Our advice is to start your insurance conversations early, once you’ve got your short list of vehicles sorted – hefty annual insurance premiums could be a deal breaker in some instances.
- Model year. Not only is a new car likely to feature better safety equipment (win-win), it’s also likely to attract a lower premium than an older car.
- Power. The words ‘turbo’ or ‘V8’ may excite you, but your insurance premiums will undoubtedly be higher as a result.
- Body style. In some instances, a two-door model or coupe can cost you more. It’s often deemed a sports car simply because of its body style, irrespective of its performance.
- Modifications. Vehicle modifications are a problem area for insurers – 20-inch alloys, after-market spoilers or premium paints are all things you need to disclose to your insurer.
- Know your excess. This is the amount you pay upon making a claim. The higher the excess, the lower the premium... it’s a risky juggle.
Everything you need to know in our ultimate first car buyers guide
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