A CAR insurance expert has revealed some amazing tips to reduce insurance premiums for your motor – and they could save hundreds.
With the cost of living continuing to rise and the average annual cost of car insurance reaching £586, many people will be looking for ways to save money.
A car insurance expert has revealed amazing tips to reduce premiums for your motorGETTY_HUB
Handily, experts at Confused.com have shared several pointers on how to achieve cheaper car insurance.
Don’t accept your renewal price
In the last year, car insurance costs have risen by £36.
But even if your quote hasn’t gone up, it’s always worth shopping around to see if you could save on your car insurance.
You might be able to find a similar policy with another provider and slash your costs in minutes just by comparing car insurance quotes.
By law, car insurers must give you a 14-day cooling-off period during which you can cancel your premium without penalty.
According to Confused.com, by comparing car insurance quotes, you could save up to £388.
Pay for your car insurance annually
Paying for your insurance annually is one way to get cheaper car insurance.
That’s because insurance companies always charge interest if you decide to spread the cost of your coverage over the year.
If you can’t afford to pay for your car insurance upfront, one way to make it more manageable is to use a credit card with 0% interest on purchases.
That way, you still get the benefit of budgeting on a monthly basis, without incurring added charges on top.
It’s important you pay off your balance before the 0% offer runs out though. Otherwise, credit card charges will wipe out your savings.
Be accurate with your mileage
Generally, the more miles you drive, the more likely you are to have an accident and make a claim.
This means the higher your mileage, the more you pay for your car insurance.
So, driving fewer miles can be a great way of saving money on your car insurance policy.
Enhance your car security
The harder it is to steal your car, the less of a risk it is.
This usually means cheaper car insurance.
There’re ways you could improve your car security, such as installing a Thatcham-approved car alarm or immobiliser, adding secondary levels of security and making sure you park in secure and well-lit car parks.
Watch out for extras you don’t need
If you want cheaper car insurance, think carefully before agreeing to any add-ons like breakdown cover, legal expenses, a courtesy car, personal accident protection and windscreen cover.
You may even get some of these as part of another policy or with your bank.
If you don’t need extras like breakdown cover, always check whether you can buy them separately as standalone products, along with the terms of all the policies you are considering before you buy them.
Increase your voluntary excess
Your car insurance excess is what you’d have to pay out if you made a claim.
You can’t change your compulsory excess, but you can change your voluntary excess.
This can help you get cheaper car insurance, but you need to make sure you can afford to pay it if you need to claim.
Consider how you use your car
Make sure your policy reflects the way you use your car.
And if you are only using it to drive to the shops, you don’t need a policy that covers commuting.
Likewise, if you start using your car to make deliveries on the weekend, you might need car insurance that includes business use.
However, if you only need to drive your car occasionally, you might want to think about temporary car insurance.
Drivers can insure their car for anything from an hour to 28 days, and it’s quick to arrange.