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Car Insurance: 7 Saving Tips For Young Drivers
The driving license and the first own car is the ultimate for many young people. Finally independent and free - until then the car insurance should be completed. Many insurance companies are a little less friendly to young drivers and novice drivers than experienced drivers. Partly understandable, because statistically, in the age group of under 23-year-olds most accidents happen. Lack of driving experience, overconfidence, alcohol and above all excessive speed lead to many young drivers that they cause damage in the early years. No surprise, then, that especially novice drivers are being asked to pay by insurance companies. But there are a few tips and tricks to save on car insurance. We have summarized these for you:
1. Premium reduction through telematics tariffs
New technologies do not stop at the insurance industry and so some insurers have developed concepts that allow the premium to be assessed individually according to the behavior of the policyholder. This is achieved by using onboard GPS trackers or even simpler - using an app that measures speeds, mileage, and braking behavior and then evaluates. If the policyholder turns out to be a predictive and safe driver, he will be rewarded with a lower than the average premium. According to current concepts, motor liability insurance companies can look to the future for example. Also, present app features that reward the policyholder who renounces his car in case of black ice and gives preference to public transport.
Such solutions already exist, e.g. Allianz Bonus Drive, Uniqa "SafeLine", Alliance "Telematics" and much more.
2. Transfer Bonus-Malus Level
Another option is to transfer the bonus-malus level. If the grandmother and grandfather report their car after years of absence from the accident, they can pass on the acquired classification to certain close relatives. So, the Enkerl can enjoy a great bonus-malus rating before the classification expires unused. It is possible to pass it on to close relatives, such as Spouses, relatives in ascending and descending line, but also foster children, foster parents and partners can benefit from the transfer.
3. Note car model (less horsepower)
That novice drivers most likely do not come with Porsche, Ferrari and Co around the corner go without saying. But even the powerful Golf can be expensive. The motor-related insurance tax is to be paid in principle for all vehicles, no matter if motorcycle, car or truck. For vehicles under 3.5 tons, the tax is levied by the insurance, which then forwards them to the tax office. The amount of tax on cars depends on engine power. This means the stronger the vehicle, the more expensive the motor-related insurance tax. That's why you can save significantly with a small car; while the tax in a vehicle with 110 hp with 424 € beats are at 67 hp only 186 € due.
A graphic representation of how the motor-related insurance tax can be calculated or how it is composed in detail can be found on the homepage of the Federal Ministry of Finance.
4. Limit insurance coverage
Depending on the vehicle, you should think about which insurance is necessary. For a new car, fully comprehensive insurance will be useful for used cars often a Teilkasko or only the legally required liability insurance. Basically, it is important to note the time value of the vehicle! If this is still quite high, is worth full insurance, the fair value, however, for example, under € 1,500, sufficient liability insurance.
Important: A deductible lowers the premium! In any case, it should be noted here that the deductible is limited to the top. Proportional deductibles without capping should be avoided! If the deductible is 5% of the damage, you can get away with minor damage. A total loss allows the deductible but uncontrollably skyrocket, if no upper limit was identified.
5. Use discounts
Many insurers also grant customers special discounts. It pays to scour the individual providers for discounts. For example, some insurance companies offer owners of a season ticket for public transport an additional discount. Certain professional groups, such as public employees, can also save on motor insurance. Vehicles that are parked in a lockable garage at night at the place of residence can receive discounts on comprehensive insurance.
Setting the payment period can also save you money. The tax office charges a surcharge of up to 10% for the motor-related tax if the insurance premium is paid semi-annually, quarterly or monthly. The insurance companies themselves usually charge a surcharge for payments made during the year. If you pay for your car insurance every year, you will lose the lesson surcharge! The annual payment method is therefore always the cheapest.
6. Not report any damage to the insurance
A scratch on the car or a damaged mudguard - especially inexperienced drivers often causes minor damage when parking or parking, in garages or in parking lots. With the motor vehicle liability insurance, it may be worthwhile to pay for minor damages yourself. After the insurance benefit, you get into a higher bonus-malus level and must pay a higher premium following. In individual cases, you should, therefore, check whether it pays to have the repair paid by the insurance company. If the repair costs are lower than the sum of the monthly premium surcharge, it would be better to discourage it.
7. Comparison calculator car insurance
To find the best possible offer, you should compare as many tariffs. The easiest way to do this is with the help of various internet portals. All you have to do is enter the details of your vehicle and personal details, and the calculator will present the cheapest insurance. But you should always pay attention to the price/performance ratio! It may be worth asking insurance companies directly to inquire about additional discounts.