There is nothing quite like owning your first car, the overwhelming joy and the unimaginable sense of pride and accomplishment. Owning your first car is like the validation from the world that you are now an adult. Sadly, there is more to owning your first car than the pride, the joy and the happiness there is insurance, specifically first car insurance.
First car insurance is as the name states, an insurance policy taken out on your first car. As a first car owner or a first time driver it is absolutely important that you have your insurance policy sorted out because it is illegal not to have insurance on your car. As a new driver you are a higher risk,which means should anything happen to your car, your insurance company is liable for a much higher amount and this is why as a new driver your monthly premiums will the through the roof. There are however a few ways to ensure that your premiums don’t eat a huge hole in your pocket. Here are a few pointers on how to cut the costs on your first car insurance:
- The car you drive
Normally first time drivers don’t buy luxury cars, but if your first car is a luxury car then you are more than likely to pay a higher premium. It is important that you have a sturdy, safe and reliable car as opposed to a luxury one. A less expensive car will reduce the cost of your monthly premiums
- Little to no modifications
When you get your new car you get a little overexcited and want to put platinum rims or spinning rims and change the lights and modify the engine and the exhaust and the list goes on, but these modifications will cost you dearly when it comes to your insurance premiums. As few modifications as possible will help reduce your premium.
- Keep your mileage low
With a low mileage you can pay less on your premiums, you can take the pay as you go insurance cover which allows you to pay according to the mileage you travel each month, this is a good option for those who don’t really drive around all that often.
- Choose the right cover
As a new driver, all you really need is the basic car insurance cover. You can also decide on the comprehensive cover which covers damages to your vehicle, theft, fire and damage to any third party property.
As a new driver it is important that you know and understand what you’re getting into.