Car Insurance-cost Factors?

kiwichick

Hi All,

Thismay be a bit vague but please read on. I am a 26 year old female, just passed my driving test and now need to decide which car to buy. Can any of you help me to understand what insurance costs are based on? I know some of it is age but what about what sort of car you drive, how many miles each year, engine size and exhaust emissions??? What on earth are 3P,F&T?? How do I know I'm not being ripped off. Should any of it influence what type of car I buy? I dont need anything flash, or new, but something safe/sturdy/cheap to run etc.

Thanks,
Allison.

impy78

kiwichick wrote:

Hi All,

Thismay be a bit vague but please read on. I am a 26 year old female, just passed my driving test and now need to decide which car to buy. Can any of you help me to understand what insurance costs are based on? I know some of it is age but what about what sort of car you drive, how many miles each year, engine size and exhaust emissions??? What on earth are 3P,F&T?? How do I know I'm not being ripped off. Should any of it influence what type of car I buy? I dont need anything flash, or new, but something safe/sturdy/cheap to run etc.

Thanks,
Allison.

Hiya, hopefully I can help a bit....

firstly 3p, f&t = Third party fire and theft cover. Which covers you for fire and theft and also damage caused to other vehicles and other people's property.


Things like the age and engine size of the vehicle will make a differerence. However, there are other factors such as driving experience and how many claims the insurance company has had to pay out in your area/ on the type of car you are looking at.

My tips would be:

A) The car

Avoid Volkswagen Golfs and Ford Escorts like the plague. They are the most expensive cars to insure in real terms. Also any of the Ford XR range are a no no for cheap insurance.

Other expensive vehicles are MGs, Subarus,Minis, BMWs, Smart cars, and Audis or any 4x4.

Avoid anything any Gti or SRi versions of vehicles (ie a Vauxhall Astra SRi or the like).

Go for an engine 1.2 or under for a petrol car or a 1.4 or under for a diesel deisel.

Modifications such as alloy wheels and tinted glass will increase your premium no end, so just get a car with the original specifications if possible.

Cars that are cheap to insure from my experience are:

New:Fiat Panda (non 4x4 version), Kia Picanto, Suzuki Swift.

Second hand: Nissan Micra(in a recent survey, a five year old micra was found to be the cheapest car to run), Ford Fiesta 998 - 1.2 bonus/bonus II (up to about a 1993 k), Citroen AX.


Older cars are usually cheaper to insure - BUT a 2006 Fiat Panda (not 4x4 version), is still cheaper to insure than most 6 year old vehicles.



B)Other ways to save:
Take pass plus, you don't have to sit an exam , and you are likely to get an extra discount.

Look online first, you will usually get extra discount there.

Try brokers, as they can provide a larger range of insurance providers than the major insurers.

Try ladies only companies like Diamond and Sheila's wheels.

If you can, keep the car in a garage, or failing that on a driveway, it does make a difference.

Mileage does make a difference, but not as much as you might think only if you go over 20,000 miles per year does it start to get dear.

Ask the insurer for several quotes with different options (Comprehensive/third party, fire and theft and try increasing the policy excess).

Be positive, patient and have as many quotes as you can with different people so you get a better picture of good and bad prices.

Good luck, and I hope this is of some assistance.

Moneysava_wannaB

Like impy78 said shop around for your insurance, if you have/getting a nice car get fully comp because 3p-f&f wouldn't cover the cost of the damage to your car if you have a accident.
And if you do have a accident sometimes it best not to make a claim and lose your 1st years no-claims discount.
Have a look at http://www.parkers.co.uk/choosing/insurance/ they can tell you what insurance group a car you like is in.
Don't forget road tax the smaller/greener the engine the cheaper. My golf 1.6 is £160 a year while my wifes Polo 1.4 is £120