Whilst car insurance is a fact of life, high premiums are not. There are many ways to control the cost of your motor insurance premiums and even reverse recent increases in some cases. Here are just a few tips that can save you well over 10% on your car insurance this year.
1. Search online for the best quotes.
Often, car dealers work with a specific insurer "for your convenience". Before snatching the first motor insurance policy you find, do some research and shop around. Use a price comparison site to compare multiple policies side by side. Car insurance quotes can vary by hundreds of pounds for the exact same cover.
2. Buy online at the insurer's site.
Many, if not most, insurance companies offer hefty discounts when you buy your cover online. Why? They save money on time and agent commissions that way. It's standard to offer a 10% discount when you buy your car insurance online. While not everyone can buy online, there can be significant savings if you can and do.
3. Review when you renew.
Don't simply renew you policy when the time rolls around. Go over it to make sure that it still meets your needs and circumstances - and then request a new quote. Insurers will nearly always offer a lower quote when you're shopping around for policy than when they think they have you hooked.
4. Secure your car.
Since your premium is based on the risk of damage or loss of your car, every step you take to make your car more secure and safe will reduce your premium. Park it off street or in a garage, add a steering lock or an alarm and see your premiums go down.
5. Drive less.
The less you drive, the less your chance of being involved in an accident. If your mileage is lower than the norm, inform your insurer and find out if they offer a low mileage discount.
6. Be honest on your application.
While this technically will not lower your insurance premium, it can make a huge difference when you make a claim. It may be tempting to claim your auntie's suburban address as your garaging site and knock a few pounds off your premium - but if you need to make a claim, the insurance company could find out. If they prove you misrepresented the facts on your application, your claim will be declined and may end up liable for any damages from the accident to boot.
7. Pay in full at the start of the policy.
Check with your insurer to find out if you're charged more for paying in installments. In essence, when you pay in installments, you're taking a loan from the insurance company for your premium, and paying them back - with interest.
8. Pay by direct debit.
If you do choose to pay in installments, find out if your insurer discounts your premium when you pay by direct debit. Since direct debit greatly decreases the likelihood of late and missed payments, most insurers are happy to knock a few quid off the premium when you pay that way.
9. Add an extra driver to your policy.
In some cases, adding an additional driver to your policy will lower your premium, especially if that driver is older, female and has a good driving record.
10. Take a defensive driving course.
Many insurance companies will discount your premium if you complete a course in safe or defensive driving. In general, anything that reduces your accident or loss risk may lower your car insurance premiums.
A legal requirement of being a car owner is that you are fully insured to drive your vehicle on the road. Sadly owning a car is an expensive business, not only do you have to consider buying and paying for a car, but also taxing it, paying for the increasingly expensive petrol or diesel and providing correct insurance and so car insurance tips are important.
It is therefore no wonder that finding the best deal for your car insurance is such a priority for many people, after all, why pay more for something if you don't have to. There are lots of companies that can offer you car insurance and it can often seem like a daunting task attempting to find the best deal for you as the quotes and prices you will pay can vary wildly from one company to the next.
Many companies also now offer specialised cheaper car insurance aimed at certain sectors of the market, for example if you are over a certain age, depending upon your gender and if you fall into any of these categories then it can be a really good way to keep the cost of your car insurance down.
There are of course a number of car insurance tips that could save you a vast amount of money. These include fitting an industry recommended alarm system and an immobiliser as this will help to increase your security and should help to keep down your premiums. It is worth noting that some insurers may also insist on tracking devices fitted being before they will insure a particularly expensive car, but this is unlikely to be the case for many of us.
Lowering the excess you are prepared to pay on any claim to reduce your premium. With the voluntary amount of excess that you are willing to pay, you will also keep costs down as the more you are willing to cover yourself in the event of a claim, the lower your premium will be.
With many insurance policies there may be a number of extras that you are paying for that you do not really need as these will up your premium. The fewer extras that the car insurance company has to provide should you be involved in an accident, the lower the cost of the cover.
Where you park you car, especially overnight, can also have a big impact on your premium since many vehicle thefts will occur during the night so if you can keep you car in a garage then your insurance costs will be reduced as a consequence. Parking on a driveway is also considered to reduce the risk of theft or accidental damage than if you were to park in the road.
Other car insurance tips that could help save money include; making sure that only regular drivers are named on the policy. Adding more will increase the cost and you can always add someone for a few days if you need to. This will ultimately work out cheaper. It is also not wise to add a young, inexperienced driver to your policy as the total premium will still be calculated on the youngest driver. Protect your no-claims bonus may also save you money after a number of years and you could find that some insurers will offer big discounts to those considered to be safer drivers.
If you decide to change your car, check with your insurer if the model will have a significant effect on the premium as a sporty model can mean a higher insurance group and often, a slightly different version could save you a considerable amount in comparison.
Lastly, and perhaps the most obvious, drive more carefully and maybe consider taking some new driving courses as many insurers will offer discounts if you have more driving experience.
Both Simon Christopher & Louis Rix are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Louis Rix has sinced written about articles on various topics from Used Car, Finances and Used Car. Louis Rix is a Director of NetCars, one of the UK's leading motoring websites. First established in January 2000, it provides car finance, loans and warranty. NetCars also provides a. Louis Rix's top article generates over 246000 views. to your Favourites.