Car insurance is something all drivers need to have, but paying it off can be a painful experience. Whether you decide to pay it all off at once or go for the monthly repayments, getting the cost as low as possible is at the top of everybody’s priority list. 3 factors that lower car insurance that you can’t change are age, amount of years no claims, and the amount of experience you have. The following ideas will help you to lower your insurance the best you can:
Put Some Thought into the Model of Your Car
Don’t just go out and buy the nicest car you see. Sure, you’ll be driving round in a cool motor. But have you even considered how much this will cost you in insurance? Research insurance premiums for different models before making your decision. There’s no point spending all that money on a car if you can’t afford the insurance!
Consider Adding a More Experienced Driver
In many cases, adding more drivers on to your policy needlessly will make your premiums go up. However, if you’re a fairly new, young driver, adding somebody more experienced could make your premiums go down. You’ll need to experiment with this though to see if it actually works. Make sure you tell the truth over who is the main driver and who is an additional driver, otherwise your insurance could be void. Plus, if you only put yourself down as a named driver, you won’t get any no claims bonuses!
Protect Your No Claims Bonus
Once you’ve started driving, you need to do everything you can to protect your no claims bonus. It’ll only cost a small amount on top, and it’s worth it compared to what it can save you over the course of your driving life. If you don’t protect your no claims bonus, it can be taken away even if you have an accident that wasn’t your fault. Don’t risk it!
Add Extra Security Features
Consider adding extra security features to your car to make the insurance premiums go down. The safer your car is in general, the cheaper your insurance will be as people will have a tough time stealing it.
Don’t just take the easy route and renew your insurance with your old provider. You need to shop around if you want to find the best deals. Make a note of all of the quotes you’ve had, then call your current insurer and see if they can match or beat your quote. This will be easier than swapping over insurers.
Have a Higher Excess (Only if you can Afford it)
How much could you realistically afford to pay if you were to be in a car accident or something went wrong? Consider setting a higher excess for yourself, but bear in mind that you will have to pay it if anything should happen. Don’t be silly with the price you set!
Try to Pay it Off at Once
If you can pay all of the money off at once, you’ll be doing yourself a favour in the long run. While paying monthly is often easier, you’ll be paying more interest and admin fees. Try to save up a few months before your insurance is due so you can pay the absolute best price out there.
Don’t Drive as Much
If you can walk sometimes instead of drive, then do so. People who drive less automatically have lower premiums, as they are at less risk of being in an accident. Make sure you’re honest about the amount you drive though; if you carry on driving the same miles and lie about it to your insurance company, your policy is void.
Keep Your Car in a Safe Place
If you have a garage, make sure you keep your car inside of it. The place you keep your car at night can affect the price you pay. If you leave it in a public carpark or on the street, your payments will be higher as your car is at more of a risk. A private carpark, a garage, and even on your drive is the best place to keep your car.
Sign up to be a Blackbox Driver
Blackbox drivers need to be confident in their driving abilities. This box that’s fitted to the car is designed to monitor the driver’s habits, and the insurance premiums are reduced or increased as a result. If you’re a very safe driver, you could get much cheaper premiums this way.
Take Extra Driving Courses
Consider taking extra courses to improve your skills and get your insurance premiums down. It’ll cost you a little money up front, but it’ll be worth it when you’re paying less for insurance. You could take a motorway driving course, and a pass plus course for instance.
Don’t Have Features You Don’t Need
Don’t have features on your policy that you don’t need. The idea is to have a policy with all of the features you need at the best price. That means looking for a policy that is the best value for money, and not the cheapest or the one with the best features.
Buying online is often cheaper for a lot of drivers, as processing the application is easier and cheaper. Instead of ringing up or doing it in person, always browse online. Check this site first before looking at the rest.
Adding modifications to a car can make it look better and sometimes even perform better. However, this isn’t a good idea if you want to keep your premiums low. The more modifications you have, the more expensive your premiums will be.
I make sure I follow most of these rules when it’s time for me to renew, and I always get the best possible price. It goes without saying that you should also be a safe driver to avoid having accidents and having to pay more. Let me know if there’s anything else you do to lower your premiums; I’d love to hear it!