Car insurance premiums in Northern Ireland have seen price fluctuations over the previous years due to inflation within the automotive industry so if you are looking for cheaper car insurance for your used car in Belfast or further afield Northern Ireland – you have come to the right place.
It’s no secret that these car insurance premiums are based on a magnitude of factors. This can range from one’s age, gender, occupation, the horsepower of your vehicle, how the vehicle is used, your address, the mileage of your vehicle, the type of cover you will need, your experience driving, if you have any insurance claims, your car insurance excess and if your insurance provider offers multiple insurance policies.
Influences On Insurance Prices
On that note, car insurance premiums can be heavily influenced on the make and model of your vehicle. The more expensive a car is, the more likely it is for you to pay a higher premium. For example, older vehicles are more at increased risk to break down, therefore increasing your premium.
However, used vehicles may also have lower insurance due to the loss of value in the vehicle. A brand new car has more risk to it than a used car and this is a factor insurers take into account when setting a quote.
How can we combat this? Here are some tips guaranteed to lower your car insurance that you might want to take action on considering the rising costs of fuel.
Paying Your Premium Upfront
By paying your premium annually instead of monthly, you can avoid interest as high as 20% from your provider.
Consider Buying a Secondhand or Used Car
Depending on your vehicle’s make and model, the cost of your insurance can be lowered. Remember, older vehicles are more likely to break down therefore, increasing the price of insurance. However, depending on how you choose to use your vehicle, your insurance cost is unique to you.
The used cars in Northern Ireland have seen a price inflation, particularly on vehicles aged 1-3 years, even exceeding the original price of some models made brand new. If you’re an experienced driver, having a used car may be more beneficial as you already have an existing record that insurers can verify.
Receive Quotes from Insurance Brokers
Inquiring about quotes from different providers is the equivalent to shopping around and looking for the best value. You can receive quotes from online brokers, or alternatively through insurers. By doing so, you can give yourself the best quote by comparing notes.
Avoid Last Minute Renewal of Your Insurance Cover
The best time to buy cover would roughly be around 3 weeks before your existing policies expire. There is increased competition among providers to compete on price as consumers are able to compare them to each other.
Become a Named Driver/ Add an Experienced Driver to Your Policy
If you’re a recently qualified driver and the cost of owning your own policy is too expensive, it might be more economically better for you to be added as a named driver on a guardian’s or sibling’s car. Alternatively, you can add an experienced driver with a clean licence to your policy, as their record can aid in bringing the cost down.
Consider having a Multiple Car Policy
Using the same insurance provider for households with multiple cars can result in having lower car insurance premiums.
There you have it, 6 top tips on how to get cheaper car insurance in Northern Ireland! If you’re looking into getting a used car then get in touch with Car Lover Northern Ireland and follow our top tips on getting a better deal on the insurance.