The average cost of car insurance is now just over ?550, and increase of just over 14% over the past 12 months, making it the largest growth in premiums in the last 15 years.

Some of the hardest to be hit by this price hike are young drivers. They are now paying upwards of ?800 a year for fully-comprehensive cover. Both the cause and result of this price increase is a rise in uninsured drivers, and in 2008, 1.7 millions drivers took to our roads without insurance.

Young drivers, probably because of the huge premiums they face paying are the worst offenders, with 250,000 17 to 20 year olds failing to get insurance. Our insurance premiums are increasing to pay for those that choose to flout the law and drive uninsured.

Insurance premiums are not set to decrease any time soon either largely because of this problem of uninsured drivers. 85% of insurers are planning to increase their premiums in 2010 by up to 10%. This means finding the right insurance at a price that is affordable is becoming even more challenging. So what can you do?

Many people underestimate the level of control they have over the amount they pay for insurance and it is actually much more than they think. Firstly, you can lower your annual premium if you increase the excess, i.e. the amount you pay towards a claim.

Look for sizeable no claims bonuses when starting up a new policy as they will pay off in the long run. Some insurers offer up to 70% discount if you havent made a claim in five years. This can save you hundreds on the cost of your premium.

Depending on your financial situation, monthly direct debits may be a more attractive option when compared to a one off annual payment. Be warned however, that some companies may charge any extra for this.

If you are over 65s and under 25s or female, it can save you money to get your insurance with an age of sex specific insurer. On average, women now tend to pay less for their insurance than men and if you are young or old, you may be able to reduce your premium by buying your insurance from an age-specific insurer.

Finally, search for insurers that specifically cover your age range or sex. Women now pay less for their insurance than men and if you are under 25 or over 50, you may be able to save money by buying your insurance from an age-specific insurer.

Add Your Picture

Article Submitted By: JasmineGrant
This Article Has Been Read 193 Times

---

Remember: The article body, title, author bio and links may not be changed or removed. By publishing this article, you agree to all the terms in our Terms of Service.
Get the HTML for reprinting the article to your site

Rating: Not yet rated

--Choose-- 0 1 2 3 4 5

Looking For A Cheap Life Insurance Company?

Get Your Life Insurance In Order Now!

Fleet Insurance Should You Subscribe To Liability Coverage

Checking Out Details Concerning Fleet Insurance

Types Of Minibus Insurance Policy

A Catastrophic Health Insurance Plan For Everyone

Pension Plan Helps You Meet Life Security and Investment

What To Remember When Considering Of A Credit Life Insurance

Does Catastrophic Health Insurance Suit Everyone?

Gap Insurance Is Important For The New Vehicle Owner

Your assets deserve to be secure

Get On The Road With The Right Campervan Insurance.

How To Protect Your Assets Under Swiss Jurisdiction

Combi Boiler, is your insured too?

A Great Way To Obtain Company Insurance

---