A driver’s guide to No Deposit Car Insurance
If you’re consider no deposit car insurance then this guide will talk you through the ins and outs of what to expect and how you can make a saving on your no deposit car insurance.
Making a saving on no deposit insurance
Do you really need no deposit insurance?
Whilst there are certainly ways of you finding the best no deposit insurance deals you need to think carefully about whether you really need a no deposit deal or whether you can manage to scrape together enough for a deposit a month or so down the road. The reason for this is that insurers see No Deposit deals as a higher risk than those that take the traditional route, and as such hike the premiums up across the board. So whilst you can get insurance today, you’ll be paying more over the period of the insurance.
Using price comparison engines
Insurance price comparison engines should be your first stop in finding the best deal for your insurance. Today all the major price comparison websites include no deposit insurances, so you can browse through the providers that are most suitable to you and your needs. You should take care however to check the full terms and conditions of any insurance, be sure to go onto the provider’s website and read the fine print in full.
Other factors to consider when choosing no deposit insurance
Reducing the premium that you pay
Whilst no deposit insurance may be more expensive in the long run than typical insurance there may be ways to drive your costs down. The following suggestions may not be applicable to all providers so ask directly about whether the insurance company you’re considering offers these options:
- Black box fitting
The fitting of a black box means that your driving is monitored as well as the times of day you drive. This can help reduce your premiums if you are deemed to have driven in a safe fashion.
- Going third party only
In many cases choosing toopt only for third party insurance can net you a significant saving. However you need to carefully consider this option as in the event of your car being written off you will then need to find the money for a new vehicle.
- Choosing your vehicle carefully
If you’re yet to buy your car then choose wisely. Car insurance premiums differdramatically from model to model, with the cheapest of insurances often being for lower capacity engine and family style cars. Generally speaking sporty models are an absolute no no if you’re looking for reasonable insurance premiums.
Don’t be tempted to enter false details
Many consumers think that by changing a few details (such as using another’s address or underestimating the amount of annual miles driven) they can see a significant saving. This is a particularly dangerous game to play, not least because you could be prosecuted for fraud. If you do have an accident and it is found that your details were intentionally incorrect you will find your insurance policy null and void.