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Tips on ways to get cheaper car insurance



TIPS TO
GET YOU CHEAPER CAR INSURANCE

 

Insuring your
car is an annual cost that seems to increase even if you haven’t made a
claim. Car insurance fraud seems to be one of the main factors pushing the
cost of car insurance up at an alarming rate. The AA reported an 11%
increase in car insurance prices for quarter 2 of 2010; this is the biggest
increase since their records began 16 years ago.

The rise in these
prices does not show any signs of slowing down; some industry
experts are predicting that by the end of 2010 we will have seen an
unprecedented 50% price increase in two years.


2017 – Premiums soared until 2012
and then dropped back until 2014 when they hit a plateau, however,
they have risen sharply since 2016 and it is said this is likely to
continue.

putting money in piggy bank

With the price of car insurance at its highest ever there is no doubt you
will be shocked by your next quote. So we have come up with some handy tips
to help you bring that quote down as much as possible.

Excess
– Increase the voluntary excess on your policy, the more you
pay the less financial risk you are to the insurer which results in a lowers
premium. Only increase your excess if it knocks over £100 off your policy,
we would not recommend increasing your excess if you only save a small
amount such as £20, if you did have to make a claim this would end up
costing you more.

Extras – Many policies now offer extras such as breakdown cover or a
courtesy car, cutting back on these extras could reduce the overall cost.
Only include the extras if you really need them, think carefully whether you
would need a courtesy car if you had an accident or could you survive on
lifts for a few weeks. The fewer extras you have the less you will cost your
insurer and therefore the lower the price.

Mileage – Be careful when stating your mileage, try and be as
accurate as possible to ensure your insurance is valid. However do not over
state the mileage as you could end up paying for miles you do not cover. If
you move house or change jobs you may have a shorter commute, so be sure to
inform your insurance company as this could have an effect on the cost of
your insurance.

Shop around – The trick to getting the best deal on your car
insurance is to shop around, the more quotes you get the more chance you
have of getting a good deal. However, with so much to do in our day to day
lives this is sometimes much harder said than done. Using a
price comparison site can offer a solution to this problem- just fill in
one form and they will return multiple car insurance quotes from top
insurers.

Payment – If you can afford to pay your premium in one go it is
recommended to do so; you may even receive a discount for paying in full.
Paying in monthly installments will add interest to your premium, the
average rate of interest is 15% but some companies charge up to 30%. If you
simply cannot afford to pay in full, look out for interest free credit cards
there are several credit cards available with 0% for 12 or even 13 months.
Use the credit card to pay off the premium in full and then pay it off
monthly like you would if you had paid the insurance monthly, this way you
will not be paying any interest.

line of garage doors
Parking – Over 50% of vehicle thefts take place at night, so ensure
you park your car in a safe spot. If you have a garage but like many
of us use it for storage and not your cars, think about having a
good clear out so you can keep your car safely locked away
overnight. Logically this will reduce your premium as the car is
much less accessible to thieves.


If you do
not have a garage parking on a driveway is less risky than parking on the
road, as the car is less likely to be vandalised or involved in any theft or
accidental damage cases.

Driving courses – Consider taking your Pass Plus or an advanced
driving course this can reduce your costs by 35%. Also try to keep a clean
licence, insurance companies take driving offences very seriously and will
significantly increase your policy if you have points on your licence. A
clean licence also demonstrates how much of a sensible driver you are.

These few steps can be very effective at bringing the cost of your car
insurance down, some may not be suitable for you but try the ones that are
you will be surprised by the effect they have on the price.

By Jessica
part of the
Moneysupermarket.com Insurance team


TIPS

If you are unfortunate enough to have an accident
involving a foreign lorry then bear in mind that many overseas lorries have
a different number plate for the cabin part to that of the trailer.

Ensure you take note of both numbers as these will be
required by your insurance company.

Margaret Reeve

Remember, not all insurance companies
are featured on comparison sites so it is a good idea to check those direct
as they may well offer a better deal having no referral fees to pay.