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Archive for the ‘Motor Insurance’ Category

Anyone who drives a motor is legally required to purchase motor insurance.  Motor insurance helps to protect other road users and the driver from the costs involved in the event of an accident.

There are thousands of insurance companies offering motor insurance and because there is such a wide choice of insurers, it can be somewhat confusing finding the right policy for you.  This is particularly true for those people who are purchasing motor insurance for the first time.

However, a few strategies can help ease the process of finding a policy that suits your needs and your budget, too.

• Firstly, remember that your age and driving experience will affect the cost of your premium.  If you are young and you have no, or relatively little, experience, then your insurance premiums will be expensive. In order to avoid paying so much, you can see if your parents or partner will add you as a named driver on their policy.  This usually works out cheaper, but bear in mind that some insurers will not allow you to build up a no-claims discount (NCD) as a named driver.  N.B. an NCD is proof of your driving experience; you receive a certain discount for every year you drive without having an accident.
• Secondly, shop around to find the best prices.  With so many insurance companies on the market, there are great varieties in price.  Always get quotes from a large selection of insurance companies so that you can find the most suitable policy at the best price.  Remember to check the fine print though; it is no good buying the cheapest policy if it does not offer you the level of cover you want.
• If you find a policy that suits you, but you cannot afford to pay the premium as a lump sum, check with the insurance company as to whether or not they offer an extended payment schedule.  Many companies will allow you to spread the cost of your policy in order to make it more affordable.