Insurance savings could pay for new car

Dreams of a new car could become a reality for Britain’s 25 million safe drivers, according to new research by Privilege Insurance.

The nation’s safe drivers - those who have four or more years no claims discount - are cashing in, with an average lifetime saving of well over £10k, simply by obeying the rules of the road. This amounts to the cost of a brand new car.

The research from safe driver champion Privilege shows, on average, British drivers who have not claimed in the last four years save £203 a year on their car insurance bill. Those drivers who have made fault claims after accidents have to dig deep into their pockets and pay a national average of £510 a year on insurance compared to safer drivers who, according to the research, pay a yearly average of £307.

Women can afford to spend an extra £1,122 more on motoring items than their male counterparts, thanks to the lifetime savings they make on their car insurance.

According to Ian Parker, Managing Director of Privilege Insurance: “The research shows that safe drivers are saving thousands of pounds by staying accident free, as well as making the roads a safer place for us all. The lifetime saving that safe drivers can make is further incentive for all drivers to take care when behind the wheel.

“While insurance is sometimes seen as a boring necessity, driving safely and obeying the rules of the road are important and that is why Privilege feels it is essential to reward those drivers who do so.

“Because Privilege specialises in insuring drivers with four or more years no claims discount, we are confident that we can offer safe drivers the best deal – so confident, in fact, that we guarantee to beat their renewal quote from any other insurer.”

As well as driving safely, other tips on keeping the cost of car insurance down include:

If possible, keep your car in a garage – or, at least, on your driveway.

Resist the urge to modify your vehicle – or check the implications with your insurance company before you do. Modifying can up the cost of your premium so it may make more sense to stick with the standard model.
Protect your no claims discount (NCD). Your NCD can bring you substantial savings – particularly with an insurer such as Privilege, which rewards safe drivers. As a result, you may want to protect your NCD by paying a small charge. This means that if you are unlucky enough to have an accident, you won’t lose all of your discount next time round.
Make sure your car is secure. Fitting an immobiliser will bring your premium down – but only if it is ‘Thatcham’ approved (the motor industry standard for security products).
Owners of high value vehicles should fit tracking devices such as Tracker.