When buying a new car, an important consideration should be, ‘Can I afford the insurance premiums?’ This is particularly relevant to the younger less experienced driver or those with driving convictions or limited no-claims bonus. Insurance comparison sites like MoneySupermarket, for example, are a great place to hunt out the best deals.

In general terms, the more powerful the car, the higher the premiums will be. For example insuring an Aston Martin DB9 will be far more expensive than cover for a Ford Fiesta 1.1. This is because statistics show that the Fiesta driver is far less likely to make a claim than the driver of the Aston Martin.

It therefore pays to research the car insurance group of your prospective purchase prior to signing on the dotted line. Of the 50 insurance groups classified by the Group Rating Panel, the vehicles categorised in the highest groups generally attract the biggest premiums as their risk is deemed to be greater. A car’s rating is in part determined by the cost of repairing it, both in terms of labour and parts and by its performance. Price and security features are also taken into consideration.

Having decided on your new wheels, your next stop should be an insurance comparison website like MoneySupermarket for example. Here you will find an abundance of insurance quotes at your fingertips together with plenty of really useful hints and tips to help you save even more on your insurance premiums. On average, savings of up to £300 can be achieved by using a comparison website and the process is quick and simple and free.