Tips for Lowering Your Car Insurance Costs
Car insurance premiums are an expense we all dread. Follow our tips to keep costs down.
Does reading your car insurance renewal make you wince? You’re not alone. unfortunately it’s one of those bills there’s just no getting away from. There are steps you can take to reduce the cost, though, if you’re looking for cheaper cover.
1. Use a car insurance broker
There are literally hundreds of insurers in the car insurance market – how can you know who’s the cheapest and what’s right for you? An insurance broker has access to insurance schemes from both well known and specialist insurers. Insure Your Motor, for example, with easy online quotes and a UK-based Customer Service Centre, can look for a cheaper deal to save you money and hassle.
2. Increase your car security
Anti-theft devices can reduce your insurance quote or renewal premium by making them less of a target to thieves, so if it doesn’t already have one, consider fitting an alarm/immobiliser to your vehicle.
3. Improve your driving skills
Young drivers might be offered a discount on their car insurance if they gain the Pass Plus certificate. This short course aims to give extra skills to new drivers (such as motorway driving, night driving and other common situations that new drivers may not have dealt with whilst learning).
4. Voluntary excesses
If you have Comprehensive cover you might be able to reduce your premium by opting to pay a higher excess in the event of a claim. Even if you’re confident that you’re a careful driver, bear in mind that road accidents are often the fault of the other driver! If they’re insured, you can claim the excess back; if they’re not, the excess you pay on your claim could be more than the saving you’re making on your insurance. Weigh it up.
5. Reduce your mileage
Insurers use statistics to calculate risk. The more miles you cover in a typical year, the higher the chance of you being involved in an accident resulting in a claim. Reducing your annual mileage can lower your insurance costs.
6. Keep named drivers to a minimum
Especially if they are young drivers (under 25) with limited experience. On the other hand, if you are a young driver yourself, adding a named, older driver on your policy (such as a parent) can help to reduce your premium a little, as a more experienced driver lowers the overall risk.
7. Opt out of expensive extras
Many insurers offer additional products such as legal protection, guaranteed courtesy car etc. Whilst you will probably appreciate these benefits when making a claim, stripping them out will reduce your premium if you’re on a tight budget.
8. Park off-road
Do you park your car on the road when you have a perfectly good driveway or garage? You could be adding unnecessary costs to your insurance. Parking your car off the road is far safer and could help to cut your premium.