Strap yourselves in wannabe petrol heads. With the help of money saving expert, Martin Lewis, Book Theory Test Today is hitting the road with 50 top tips that will cut your motoring costs. Tune in each & every week for a new tip and remember to share with friends and family.
We begin our top tip marathon with insurance, a ‘mahoosive’ minefield for new drivers. Having gone to all the effort of paying for, and passing, your theory test and practical driving exam, you are rewarded with a car. Yes! Result. Then you’re slapped with a whopping insurance premium. Boo, hiss.
However, most new drivers make the mistake of assuming that third party motor insurance is the cheapest. Wrong…
Book Theory Test Today Tip #1 – Don’t Presume Third Party Cover is Cheapest
Yes, there was a day when third party insurance was the cheapest type of cover around; because it’s the minimum level you need to get on the road. Specifically, it covers you in the event of damage to another vehicle and safeguards passengers in your car, plus members of the public. However, it does not cover theft or fire.
The reputation of third party cover as ‘the cheapest’ recently began to dwindle as more fully comprehensive policies began to get cheaper.
Book Theory Test Today says: “Previously, as a new driver, we would have told you hands-down to go for third party insurance cover, because logically speaking it’s the cheapest. Why? Because they provide less cover than fully comprehensive policies. But now, this appears to have changed.â€
In an example used by Martin Lewis, he shows that for one low-risk motorist he found a fully comprehensive quote for £290, but using the same information to apply for a third party policy, the same driver was hit with a whopping £406 quote.
Book Theory Test Today says: “Bearing Martin’s example in mind, remember, third party insurance doesn’t even cover you for loss or damage. So, £406 – ouch!â€
One bit of advice Martin gives for gathering quotes is to use price comparison sites. They’re quick and convenient for sifting out quotes to suit your budget. It’s recommended that you compare at least three price comparison sites because not every insurance provider is on every comparison site.
Book Theory Test Today says: “If you’re not happy with the price comparison quotes, it will do no harm to ring up a few insurers direct for a better deal.â€
The key thing to remember when seeking insurance is to make sure you get what you’re paying for. A number of providers eliminate certain elements from a policy, often charging you more to add certain types of cover, so be wary.
Book Theory Test Today offers an intermediary service assisting clients with booking a UK theory test, or practical test, at test centres across the nation. The service also supplies resources to help you prepare for your theory test – Ready to take your theory test? Book your theory test online today…
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