A well known car insurer that specialises in insurance for younger drivers has recently highlighted how spending a little extra on a first vehicle can help bring down insurance premiums.
As a driver new to the road, and those that have been driving for years are both probably aware – the fundamental factor when deciding on their first car is cost & age, with cheaper and older seeming to be better.
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However, according to recent information, an initial low investment may not prove cost-effective in the long run. This is because; cheaper vehicles can prove to be more prone to accidents, especially when driven by new or younger drivers.
Some examples of how an older vehicle’s components can impact upon driving situations are as follows –
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Get a Car Insurance Checkup. Credit Dings = Insurance Woes medical costs, and a good disability policy will cover a long-term loss in wages.
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- Worn brake pads hamper breaking performance
- Lack of “power steering” results in heavy steering or difficulty in manoeuvring
- Cool only or poor heater prevents windows for demisting sufficiently
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Any hazardous road conditions such as rain, fog, ice etc are likely to greatly amplify the above problems along with many others.
To combat this problem the company in question; Young Marmalade are now offering lower car insurance premiums to young drivers who purchase a car of higher quality.
They do this on the premise that such vehicles are likely to pose less of a hazard and thus reduce the likelihood of being the cause of any future claim(s).
Even though young drivers “new to the wheel” are likely to be more susceptible to accidents, it is believed that this move will help to reduce the likelihood of such problems.
This is reflected in the fact that the insurer has had few very claims since adopting their new service.
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Car Insurance: First Car, a Long Term Investment?