Wednesday, May 28, 2008

Purchasing car insurance for the first time

You've probably heard that there's a first time for everything, well the same applies for car insurance. At some point in your life, you will need to buy your first car insurance ever and it might sound like a daunting task initially but if you do your research well, you should be fine.

First time car insurance will be sought by people who've just passed their driving test and looking to get ready to hit the roads. Although some people might have held their license for a long time and not actually have a policy of their own, a first car insurance can prove to be rather expensive because the driver will not have any no claims bonus to begin with. This means you start off with a very big disadvantage and careful research needs to be done if you don't want to spend all your money on a new driver car insurance policy. Believe me, car insurance for an inexperienced driver averages at £2800 and can even go up to £5000.

I know it sounds crazy and it doesn't make any sense but this is the horrendous truth. Insurers know first time drivers are a great risk and will charge you a lot for a car insurance cover. Your parents might be paying something like £250 but that's because they've built up their no claims discount over the years and they are more experienced now and less likely to make a claim against the insurance company.

If you decide to become a second or additional driver on somebody's else policy, you will save money in the short term but you will not build your no claims discount and when you decide to take car insurance in your own name at a later point in your life, you will return to your starting point which is getting first time car insurance as the policyholder.

Since you will eventually need to commit to it someday or the other, why not do it now and be done with it, eh? Yes, you will have to pay more at the beginning but take my advice and take it with a pinch of salt and you will be rewarding yourself in no time.

So where should I go for cheap first time car insurance then?

As we've said before, you will have to pay a high premium in your first year but if you want the cheapest first time car insurance, you can go with Direct Line car insurance and they can bring your quote down a lot! They are the most competive in the car insurance market at the moment and you will have the facility of paying your insurance premiums in installments if you want to spread the cost over the year and pay smaller chucks monthly rather than paying it all in one go.

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