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If you are about to apply for your first car insurance policy you may
find the prices that you are quoted will be very high, this is due to
a number of reasons. Insurance Prices vary from company to company I
have personally been quoted prices from £290 to over £1200.
Here are some ways in which your insurance premium can be effected:
- Post Code of where the car is kept
- If your car is kept in a garage
- The amount of miles that you expect to use your car for in a year
- Applicants under 25
For first time insurance buyers I would reccomend if you have just passed
your driving test to take the Pass Plus which may enable you to get a
discount off your premium by as much as 30%.
No Claims Bonuses
The no claims bonus is the amount of years you have had your insurance
for withour having an accident, for example if you took out your
policy and in a years time you did not have an accident you would
then have achieved 1 years no claims bonus as long as you did not
cancel your premiums.
Rapid Bonus Scheme
Over the past few years I have noticed that some insurance
companies now offer an alternative to a 12 months Policy, some companies
now offer a 9 Month Rapid Bonus Policy which maybe suitable for some
new drivers
who
have not yet get their Full No Claims Allowence.
The only downfall to the Rapid Bonus Scheme is that sometimes the amount
you pay works out to be more expensive than a 12 months policy. The way
in which you would work out the difference for example on a 9 month policy
isto divide your 9 month annual quote by 9 and divide your 12 months
quote by 12. This will then give you a monthly price for each, if the
difference between each is more than £5 a part then you may want to consider
going for the full 12 months depending on what is more important the
no claims bonus or price you pay.
Somecompanies offer rapid bonus schemes that are very similar
to their 12 months policy so there is not a huge difference in the price
you pay per month.
Related Links:
Rapid Bonus Policy
Tips on applying for insurance
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