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A Quick Guide to Insurance for the First Time Buyer

By Sandyford Nov 10, 2020

Insurance cover for a first-time driver has never been easy, cheap or simple. In recent years, it seems that it has become even more complex and expensive.  Those TV ads of parents handing car keys to teenagers may be nostalgic and touching, but they hide the truth and the complications behind young drivers getting on the ladder to car ownership. When it comes to first time insurance, the choice of car and insurance company are vital to the deal.  At Sandyford Motor Centre, our expert sales team have years of experience in helping young motorists to choose the right motor for consideration by insurance companies. It is always a good day when a young person heads off in their own car for the first time!  Here are a few thoughts on First Time Car Insurance.

Price the insurance first

We have amazing cars at incredible prices, so it does seem a bit ridiculous to tell you not to fall in love with the car until you have priced the insurance.   It is wiser to do a bit of homework and find out which insurance companies are currently covering first time drivers and at what cost. Most importantly check what caveats are being put on the policy.  In general insurance costs will be less if you choose a car under 10 years old that has better safety features. 

 

Choosing the Right car

Choose the car wisely. A Mazda or Peugeot that is a few years old meets the criteria perfectly.  The temptation to drive fast and furious is one of the reasons why insurance for young people is so expensive. Buck the stereotype and don’t go for the higher engine and the latest model, unless you happen to be in a successful boy band, or have won  the lottery, the insurance will go some way to dictate the car you drive.  At Sandyford Motor Centre our experience sales staff can direct you to a motor that will have you, your bank manager and even the insurance company smiling.

 

Licence

The sooner you achieve that full licence status, the sooner you are on the road to experienced driving and reduced insurance. Having a provisional licence will not exclude you from affordable insurance, and some insurance companies will reduce the premium if you pass your driving test mid-year on a policy. 

Named Driver Experience

Many first-time drivers are lucky enough to be named drivers on another’s insurance policy. Usually this means a parents’ policy and It’s a great way to get named driver experience. NDE is recognised by insurers and works the same way as No Claims Bonus in that some insurance companies offer a discount based on the claim free, insurance years.  There are stipulations around NDE, but it is generally a great way to start out driving and a step up when looking for independent insurance policies.

 

Insurance companies and all the bells and whistles around First time Insurance

 

 In the past few years, insurance companies have introduced a variety of schemes to assist first time insurers in getting cover.  Discounts can be negotiated if a young motorist agrees to take part in a Start Up programme, where alongside their driving theory test, driving lessons and state test, they attend 8-10 classes overseen by the Insurance Company.  A ‘Certificate’ of completion can aid a cheaper quote.  Telemetry devices have also been brought into play to assist in insuring what the industry regards as ‘high risk’. This is a tracking device which is often an app or a tracking device which can record the movement of the vehicle. The machine tracks the speed of the car and reward the young driver with cheaper insurance options.   With a telematic device you can also estimate the number of kilometres you will cover and introduce a stipulation that you cannot drive over 8,000km annually, for example. Of course, all of those kilometres must be driven at a legal speed for the price quoted.  Anything driven over and above the agreed amount is topped up with additional costs. first time insurance is now decided by many factors including the age and experience of the driver, the relevant claims record, driving experience and the car itself.   

At Sandyford Motor Centre we recommend a practical approach to buying and insuring your first car. This may mean sorting the insurance deal, even before the test drive takes place, but as always, we are here to help you take those first steps to a happy motoring life as stress-free and easily as possible.  Start a conversation with us today.



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