With the new EU Directive to end gender bias in car insurance premiums women in the UK and Northern Ireland may expect to see an increase in policy premiums of nearly 24%. What has always been a major concern for new or young drivers will be of even greater concern to young women than ever before.  Some considerations that did not used to be of great importance in vehicle selection and policy choices may now become of vital importance.

car insurance

Though none of this is welcome news to young female drivers, it is not all gloom and doom either.  Your premiums will very probably increase but insurance companies will be more competitive than ever to keep your business and to try to help you find additional discounts to offset the increase in premiums. If you are both careful shopper of insurance and a good driver the rate jump can be kept manageable and within the budget.

Vehicle choices

Consider if the make and model vehicle you currently have or are looking to purchase is a good choice for the monthly insurance budget. You may want to ask for quotes on several different vehicle choices before deciding whether to buy or keep a particular vehicle.  More important than ever before will be things like GPS tracking and security options. The new ruling means higher average premiums but it also means higher discounts will be offered for safer selections.

Policy Choices

Maybe last renewal there was not much difference to your rate based on miles driven a year but now it may be worth asking about again. If you only drive 6000 miles a year then maybe it is time to look for a policy that offers a discount for low annual mileage. Once again, the higher the base rate is the more a 10% discount means to you.  Is it worth considering if you need to keep the excess at £500 or maybe you can go with the £1000 excess? There is now more reason than ever not to risk a no claims discount so would you ever file a claim over £500 difference anyway if it meant years of paying £1500 more in annual premiums?  Before you just sadly agree to pay more every month for your insurance ask for ways to reduce your premiums that may not have been worth considering in the past. A good insurance company like Axa Ireland may be able to help tailor a policy to your needs to maintain good coverage within the budget.

Don’t “wait and see”

Start your comparisons and finding out the effects of vehicle choices and policy changes will have now. Do not wait for your renewal to find you need to trade vehicles and are forced into hasty decisions. Finding out now gives you time to make wise choices instead of hasty ones.