CAR insurance experts have shared their top tips on how drivers can save on their next renewal – as new prices reach “highest on record”.
Research from Confused.com found that motorists paid 58% more for their cover in 2023 than the previous year, the seventh such rise in a row.
GettyCar insurance prices have reached their ‘highest on record’ in the UK[/caption]
GettyDrivers can now expect to pay an average of £995, with prices going up by an average of £366 in the past 12 months[/caption]
According to new data, the average price of car insurance in the UK has edged closer to £1,000 following further increases.
They say drivers can now expect to pay an average of £995 – the highest price on record in the UK – with prices going up by an average of £366 in the past 12 months.
However, experts at Confused.com have urge drivers to review their policies to see if there are ways they can save and use a price comparison website to “shop around”.
What’s more, they advise car owners to review other ways to save on their renewal, including increasing voluntary excess – providing they can afford to do so if they need to claim.
Confused.com also suggest being accurate with mileage, as generally more miles driven, the more likely a driver is to have an accident and make a claim.
Driving fewer miles can be a great way to save money on a car insurance policy – but it’s not always the case that low mileage means low prices, as drivers that barely drive at all are potentially seen as a risk.
However, perhaps the easiest step drivers can make to save on insurance is by enhancing their motor’s security.
This could include installing a Thatcham-approved car alarm or immobiliser, parking overnight in a secure, well-lit car park, or at home in a garage or driveway, and adding secondary levels of security – such as a steering lock.
Louise Thomas, a motoring expert at Confused.com, said: “Like a lot of our expenses, car insurance is getting more costly and this is likely to be the case for some time.
“Claiming is one of the biggest factors when it comes to insurers pricing up policies, and with the cost of paying out for claims being considerably high, insurance prices are going to be too.
“While it looks like increases could be slowing down for now, we still need to be doing what we can to keep these costs as low as possible.
“Things like increasing security, reviewing how many miles you drive or adjusting your excess could bring your overall cost down.
“But it’s important to remember that the information you’re providing should be accurate otherwise you risk invalidating your policy if you need to make a claim.
“Ultimately, shopping around is the only way to know you’re paying the cheapest price available to you.
“With prices so high, it’s a very competitive market.
“So if you look around, there’s likely to be an insurer out there willing to offer a cheaper price.”
This comes as a motoring expert has revealed the cheapest cars to insure in the UK as drivers seek to combat rising “ridiculous” costs.
Elsewhere, Wolverhampton has been revealed as the drink and drug drive capital of the UK – is your town in the top ten?
GettyThere’s a number of things drivers can do to help lower the cost of their insurance premium[/caption]