Insurance

This Motor Insurance guide will help you understand how to cut your car insurance costs and find the right insurance quote for you.

Specialist Porsche Car Insurance. Get a Competitive UK Porsche Car insurance Quote from Bridle Car Insurance Today. Bridle are a leading UK car insurance intermediary who offer competitive car insurance quotes. Get a quote now!

Cover Types

It is illegal to drive in the UK without insurance and therefore the minimum standard of cover you can take out is 'third party', which covers you for liability to other parties. Next comes 'third party fire and theft' which will also pay out if your vehicle is stolen or set on fire, neither of which are recommended for insuring your Porsche.

A fully comprehensive car insurance policy is the minimum level of Car Insurance cover that you should consider for your Porsche. It will pay-out for all of the areas covered above and critically paying for any damage to your own vehicle regardless of who caused the accident. It also covers loss of, or damage to, personal effects in the car.

The actual level of insurance cover and benefits vary between individual car insurance companies. Benefits that may incur an extra cost typically include a courtesy car, free cover for driving in Europe and legal aid when the accident is not your fault.

Insurance cost

There are a lot of factors that determine your insurance cost, as well as the type of benefits that are right for you, which all have an implication on cost.

• Age - Younger drivers and learner drivers are less experienced and therefore considered more likely to be involved in an accident. Any drivers aged under 25 insuring a Porsche will unsurprisingly be liable to receive an high insurance quote.
• Sex - Most companies offer lower premiums for women, who statistics have proven are involved in fewer accidents than men. Adding ones partner to the policy of your Porsche may actually lower your insurance premium.
• Vehicle Cost - As this increases so will your expected premium. A policy can be either based on market value or an agreed valuation, the latter is recommended for your Porsche where possible, as market value does not always equate to replacement value.
• Insurance Group - No surprise that every Porsche features in the highest general car insurance group rating of 20, as a result the starting quote will be high. Group 20 reflects not just the value of the car but the high performance nature of your Porsche, potential repairs costs and its mechanical complexity. Porsche parts as we know are not cheap.
• Engine size - The more powerful the car the more likely it is to be involved in a high-speed accident. So a typical Porsche may have a 3.6 litre engine which is already a large specification.
• Vehicle Modifications - For some reason, Insures do not like modified cars, unfortunately the after-market boy racer market has given modified Porsche cars a bad name. Even a simple air filter or replacement exhaust system may load your premium by at least 20%. Therefore a Porsche or performance specialist insurer is recommended who should better understand to apply your policy requirements correctly. It is recommended that your declare all vehicle modification that have a material different to both the visual and mechanical of your Porsche, to ensure you have the right level of cover.
• How you use your car - Lower mileage means lower premiums, so no surprise there, consider asking for a limited mileage policy.
• Your occupation - If you are driving as part of your job you are more likely to be involved in an accident than someone who, for example, only drives at weekends. Interestingly airline pilots are supposed to be the lowest risk occupations, but motoring journalists or racing drivers are unsurprisingly high risk.
• Where you live - Higher density of traffic and higher crime rates can make your car more susceptible to an accident or theft respectively. Having a garage is much better and secure over street parking.
• Your history - The more accidents you have, the more expensive your cover is likely to be. This includes all license endorsements that you may have received, so the next time you pick up a speeding fine, it will most likely be on your insurance record for at least 3 years.

Getting the best value for money

Benefits available vary between car insurance companies, the cheapest quote that you might have may not necessarily offer the right level of cover. It pays to shop around for the best deal but make sure your insured can cover the liability of your valuable Porsche correctly. The old adage about "you get what you pay for" is never truer than when choosing your insurance cover - make sure that you get the best cover at the best price. At the same time there are ways to reduce your premium and get a more competitive quote:

• Building up your no claims discount, in some cases a five-year no claims bonus can save you 65% on your premiums.
• Protecting your no claims discount, although this costs more to insure in the event of an accident you don't lose your no claims discount.
• Increasing your Excess charge, almost all insurance policies have a 'compulsory excess' with the option of a 'voluntary excess'. This refers to the amount of money you are willing to pay in the event of an accident. The more money you're willing to pay in excess, the lower your premium.

It is certainly worth shopping around every time your insurance renewal is due, he internet has made shopping around easier without the need to wait on call centres. In addition, some insurers will offer as much as a 20% discount to people who buy their car insurance online.

Broadly there are four options available when researching and buying car insurance.

• Insurance Brokers, still a very effective means of getting the right level of cover for your Porsche, across a host of insures.
• Direct Insurers, mostly online providers providing generic cover.
• Branded Providers, established names who have added insurance to their extensive list of products including the likes of Virgin Money, Tesco, Sainsburys.
• Full Search Provider, including online price comparison sites enabling users to search a selection of the market to return a list of potential car insurance providers that will include insurers, direct insurers, and other brands.

Specialist Porsche Car Insurance. Get a Competitive UK Porsche Car insurance Quote from Bridle Car Insurance Today. Bridle are a leading UK car insurance intermediary who offer competitive car insurance quotes. Get a quote now!

Laid-up Policies

What is a laid-up car insurance policy? Sometimes it is necessary to take a car off the road for a period of time. This is particularly true of classic cars, where major restoration work may be needed. At this time, there would be little point in arranging a full car insurance policy, but some risks still remain. The car could still be stolen or damaged by theft or attempted theft, and it could still suffer from fire damage.

For these reasons some car insurance companies provide laid-up cover. Provided the car is garaged, the company will give a car insurance quote based on the value of the vehicle, and will provide cover as described.

Your motor insurance Certificate and Policy

Your motor insurance certificate is often a "shortened" one-page document and is normally accompanied by your insurance policy document (which can often run to many tens of pages). You must study your policy, as this is the document that forms the basis of the contract between you and the Insurance Company. There are many different types of policy wordings/rules (for example, your policy may not cover drivers of your car who are under 25 years old) so make sure that you read it and that you have asked about the policy conditions at the time you take it out.

The Road Traffic Act requires all motorists to be insured against their liability for injuring other people (including passengers) and for damage to other people's property. It is also vital to keep your insurance company up-to-date including vehicle modifications and fixed penalties as it is an offence not to disclose such information and it may affect any claim you make.

Fully Comprehensive Car Insurance

Comprehensive car insurance provides maximum cover. A car insurance company will normally provide the following as part of a comprehensive motor insurance:

No Claims Bonus

Most car insurance policies operate a no claims bonus scheme. Each car insurance company will set out in its policy the scale of no claims bonus that will apply. After a policy has run for 5 or more years claim free, a maximum bonus of 60% to 70% will be allowed. At this stage motor insurance companies will often allow bonus to be protected or guaranteed. Cover varies between car insurance companies, but typically the situation will be as follows:

Protected No Claims Bonus

Most car insurance policies operate a no claims bonus scheme. Each car insurance company will set out in its policy the scale of no claims bonus that will apply. After a policy has run for 5 or more years claim free, a maximum bonus of 60% to 70% will be allowed. At this stage motor insurance companies will often allow bonus to be protected. This means that you may make as many as 3 claims over an agreed period (usually 2 years) without any loss of no claims bonus. Without this protection, 2 years of no claims discount will be lost for every claim made.

It should be remembered that no claims bonus can be lost even if a claim is not your fault, e.g. if the car is stolen.

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Specialist Porsche Car Insurance. Get a Competitive UK Porsche Car insurance Quote from Bridle Car Insurance Today. Bridle are a leading UK car insurance intermediary who offer competitive car insurance quotes. Get a quote now!