I pay £140 a year to insure my MGB thanks to being in the owners’ club
CAR insurance rose by an average of £95 last year to a typical £750 for fully comprehensive cover, according to comparison website Confused.com.
Worst hit are new 17-year-old drivers, who can pay more than £2,000 for full cover, but even older drivers in their 60s are now paying an average of £450.
A telematics box – a high-tech satellite device that monitors your driving – can slash premiums by 20 per cent. It sits unseen under the dashboard and is often provided and fitted for free. But although it will not inform the police if you break the national speed limit, it can ramp up your premiums if it does not like the way that you drive. Insurers offering black box cover include insurethebox, More Than, Hastings Direct SmartMiles, Sheilas’ Wheels, WiseDriving and the AA.
Specialist motor club memberships can drive down the
cost of insurance by about 15 per cent – as they have the bargaining power of a group.
Linda Turner, 60, from Royston in Hertfordshire, pays £140 a year for fully comprehensive cover with Lancaster Insurance for her 1979 MGB GT worth £16,000.
She says: ‘I get 10 per cent off as a member of The MG Owners’ Club. Being a club member I also get a professional valuation.
‘This is essential as otherwise the insurer might not give its true worth if the motor was involved in an accident. I have spent thousands on modern conversions, such as electric windows.’
Proving you are a good driver can also beat down premiums. You can knock more than £100 a year off cover by taking an advanced driving course. Motorists can take a six-hour practical course to improve skills from an approved driving instructor within 12 months of passing a driving exam, paying a total of £150 for a Pass Plus test.
The Institute of Advanced Motorists also offers an advanced driving course for £149 recognised by the Driver and Vehicle Standards Agency for anyone who has passed their test. It is also worth scouring the market to see if you can get a cheaper deal. Comparison websites such as Comparethemarket can do much of the legwork. Fully comprehensive insurance usually works out best value – offering cover against damage to both your vehicle and any other involved in a crash.