Your nature's 'CAR'icature?

Bollywood Bhai, Sanjay Dutt, loves black cars — his Mercedes, Lexus and even BMW are all black! The cool and composed Big B drives a white Range Rover while bahu Ash, a silver Mercedes. The suave and sexy Hrithik moves in a golden beige Merc. Besides being a style statement, cars today also reflect the personality of the owner.

Coloursurance for your car! 

So, does the colour of the car define the personality of the person driving it? Red, for many, signals danger. People who drive a red car are considered to be hyperactive and fast in everything – be it driving, speaking or thinking. So, are they the ones who end up with the maximum speed tickets? Also, those roaming in black and dark blue cars are perceived as aggressive.

Businessman Navneesh Chopra says, “I wanted to buy a black car, but my father didn’t allow me to. He thinks I might have an accident. I feel he’s right. I’ve witnessed 10-12 road accidents in my vicinity involving black cars.” Another businessman, Vaibhav, thinks that driving a black car has made him a faster driver now.
Sumit Ahuja, who earlier owned a car accessories shop, agrees that car colour is often indicative of a person’s personality, “I know it happens. The younger lot mostly goes in for red cars.”

Colour-sured?

That’s not all. Also, insurance companies are said to ask for greater premium from car owners who own shocking red, shining black and dark blue cars as they believe that they are more prone to accidents during night and hence have a higher claim rate.
However, Sunil Gupta, COO of an automobile company, says, “As of now insurance companies are not changing any premium based on car colour.”
Confirming this, Puneet Khanna, owner of an automobile showroom, says, “A few days back we had got to hear of this, but we are yet to receive instructions from insurance companies. The proposal is said to be pending with IRDA. If it gets approved then it would be applicable by the end of this year.”
Naveen Kool, an insurance agent, says, “People invest a lot of money to install safety devices in their cars so asking for a higher premium would not be justified. However, some insurance companies have started charging more for metallic colours.”

Passion for Possession

So what is all this car-nama about? Jas Arora, who owns a black Optra, says, “I believe in driving safely. But, that doesn’t mean I don’t like speed, it’s just that I don’t like breaking rules.” Restaurateur Navneet Kalra, also a cricket enthusiast, adds, “Cricketer Yuvraj’s vibrant personality reflects in the colour of his car as well. He drives a blue BMW. Dhoni’s a cool guy, he owns a metallic grey Hummer.” Adman Suhel Seth has black cars. “I think black is the most understated, impressive and elegant colour,” he says. Will he change the colour if companies begin charging more premium for black cars, he replies, “If at all companies do that, I won’t choose that particular company. My colour will not change.” 

Vintage car enthusiast Ammu says, “I am not sure whether it determines my personality, but I am a very peace loving person and all my three cars are white.” Reason enough for you to sit and ponder over your car colour?


Red Rash: Full of zest and energy. Drive, think and talk fast

Black Beast: Full of aggression and impulsive 

Mean Green: Driver tend to get hysterical while driving and speaking

Blue: A calm and composed state of mind

Flashy Blue: A fearless state of mind

Stylish Silver: Symbolic of style and endurance

Warm White: Signals a peaceful state of mind

Golden: Reveals sophistication and confidence 

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If your car insurance is up for renewal soon, don't simply accept your insurer's quote - find out how much you could save with these ten easy tips!

July will be an expensive month in our house - both our home and car insurance policies will come up for renewal (plus it's my birthday, but that's not for me to worry about!).
Clearly forking out for insurance is going to be a make a large dent in the finances, so as usual we're determined to pay as little as possible. But of course, we still want the best cover we can have.
So here are my tried and tested tips to get the best cover for the least cash!

1. Shop, shop, shop around!

While this used to mean giving up half a day and arming myself with the Yellow Pages and a phone, life is so much easier with the internet.
Plug your details into an online comparison tool and you can apply for quotes from twenty or thirty insurers at once - now that really does save time. And as the AA reckons shopping around can shave £225 off the average comprehensive policy, it could save you a fair bit of money, too.

2. So what do you do?

You may not realise this, but your specific job title can make all the difference to an insurance quote. For example, the job description "lawyer" can often attract a higher premium than "solicitor".
If you can think of a few, alternative job titles that still describe what you do, give each one a try and see if they affect the price of your quote.

3. Add an additional driver

Another way to reduce premiums, particularly for younger drivers is to name a parent/older driver on the policy - this can shave 15% off the price. But try and avoid taking out an "any driver" policy - they can be shockingly expensive.
Additionally, make sure you mention whether you also drive another car, as this tends to make your premium cheaper.

4. Keep your car safe

Insurers give lower quotes to lower risk drivers, so you need to reassure them that you look after your vehicle.
Keeping it in a locked garage/on a driveway is obviously preferable to roadside parking, and having an alarm/immobiliser/tracking device will help too, so make sure you mention if you have them.
If you live in a particularly crime-ridden area it could even be cost-effective to rent a garage to reduce that premium.

5. Protect that no-claims discount/bonus

You earn one year's no-claims discount for every claim-free motoring year you build up. And the effect is impressive - just one year's no-claims discount can reduce your premium by 30%, and 2-year's worth can be worth a 40% saving.
This typically continues until you achieve the magical 5 years' no-claims discount - which equates to a whopping 65% off your premium.
But once you've reached that milestone consider protecting your no-claims discount. This will increase your premiums slightly but will mean that, should you need to claim, you'll be able to do so at least once before losing that hard-earned discount.

6. Get the right cover for your needs

Don't apply for cover on auto-pilot - assess your current needs. You may have bought your car brand new, but if it's now getting on a bit is fully comprehensive cover still worth the extra, or would third party, fire and theft fit the bill?
If you barely drive your car anymore, would you be better off selling it and joining a car club? Alternatively, drivers who do very few miles could save with a pay as you drive policy.

7. Pick your excess...

And another way to slash that premium is to voluntarily increase your excess (the amount you will pay, should you need to claim).

8. A personal loan, Sir, at 30%APR?

If you fancy taking out a loan for a few hundred quid at a rip-off rate, you've come to the right place. While insurers offer us the chance to pay our premium in monthly instalments over a year, they don't do so for free.
Read the small print carefully and you'll see that most charge for the privilege - and an APR of 30% is not uncommon. That's almost twice as much as it costs to borrow on a typical credit card! Ouch...
Check with your insurer about monthly payments and if he charges, pay upfront. If you don't have enough money in savings and are sensible, a 0% card for new purchases can help you spread the cost.
And forewarned is forearmed - open a dedicated savings account for next year's car insurance premium and start stashing £20 away a month - and this time next year you'll have £240+ to cover that bill.

9. Get qualified

Insurers love qualifications - take a Pass Plus advanced driving course and not only will you become a more proficient and confident driver, but you could find your insurer will shave 30% off your premium, which can be a great option to help younger drivers.
The course does cost between £150 to £200, but the good news is that many local councils support the scheme and offer bursaries to individuals to cover up to 50% of the fees.

10.  Haggle

And finally, once you've got your cheapest quote, call your existing insurer and see if he will beat it to keep your business. Or see what you can get thrown in for free (legal cover etc.).  Go on; try your hand at haggling - it won't do any harm and could save you a few more quid - better in your pocket than theirs!
So there you have it, 10 ways to slash that car insurance premium. Give them a go and see how much you could save.
Good luck!


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