As a car owner, you will probably be well aware of the costs of owning a car - fuel, maintenance, MOT, and your insurance. There’s no way of avoiding paying for car insurance, but you’re probably not aware that there’s plenty of ways to try and lower your premium. Use some of our tips below to reduce your premium and find the best insurance deal for you.
1. Do your research
Leaving your insurance until the very last minute will mean you may grab what seems to be the best deal in a panic. Or, worse still, you may just accept your auto-renewal deal from your current provider and lose out financially. Opting to do nothing and stay with your current provider can cost you on average an additional £113 per year. So, make sure you use all of the insurance comparison tools online and get yourself a number of quotes to review. You may find that if you have alternative quotes which are cheaper, your current provider will suddenly find magical ways to reduce your premiums. Also try and use a cashback site to get some money back when you pay for your vehicle insurance.
2. Ensure your details are correct
Does it matter what your job description says on your insurance? Actually, yes it does. The quirks of insurance criteria mean that some job titles may incur a slightly higher fee than others, so it’s well worth making sure you’ve filled in your details accurately to help lower your car insurance.
3. Review who to insure
Adding an experienced secondary driver to an insurance policy can be a way to reduce your vehicle insurance. Obviously, they must have given their permission, and they should have a clean driving license and an attractive claims history to reduce to your insurance bill. Equally, limit how many drivers you do insure as adding extra drivers can be costly. A much better way to insure extra drivers is to do it temporarily on a short term basis.
Any enhancements you make to your car may be pleasing to you, but they’re unlikely to do you any favours with your insurance company. Insurers dislike anything which is deemed to be ‘non-standard’ as it introduces doubt and the potential for something to go wrong. That will mean higher premiums. By all means, you can have alloy wheels, but they will mean you pay more for your insurance.
5. Pay upfront
Insurance can be expensive, which is why it can be attractive to spread it out over a series of instalments. Try to avoid paying in instalments as you’re likely to pay more over time with a hefty APR being added to your bill. If you have to pay in increments, opt to pay using a 0% credit card to avoid interest.