Reducing the costs of your car insurance

While car insurance is essential protection the premiums are a major outlay.  However, there are ways in which you may be able to reduce the size of your car insurance premium.  Below we have listed some tips on how you could reduce your insurance premium.

1. Always shop around

Do not take up the first policy cover you are offered without comparing it to what other insurers may offer you.  Insurers calculate premiums differently and are often targeting different sorts of customers – so shop around to find out which company works best for you.

2. Review your insurance annually

It’s common for the best offers and deals to be aimed at new customers rather than existing customers so when you get your renewal notice have a look at what other insurers will offer you to join them.

3. Factors that will help your quote

• If you have a garage put your car in it and let your insurer know.  The safer the place that you store your car overnight the lower the risk and therefore the better for your premium.  
• Provide your insurer with an accurate estimate of your mileage as there may be discounts for lower annual mileage
• Only insure those that you need to insure.  Don’t include drivers on your policy who never actually drive.
• Consider what excess levels you are prepared to pay in the event of a claim. The higher the excess you are prepared to accept the lower your quote will be.
• Buy your insurance online.  Many insurers offer extra discounts for purchasing your policy online.  Click here to buy car insurance online >>

4. A few other ideas

• Young drivers. If you are a young driver your lack of experience can usually count against you.  If you undertake a <advanced plus type course> many insurance companies will reduce your premiums.
  
• Vehicle security.  Insurance companies will reduce premiums for cars with an alarm, immobiliser or tracker as this reduces the risk of theft.
• Payments.  When you pay by monthly premium there is often an interest charge that increases your overall cost.  So although paying your car insurance in 1 lump sum requires a bigger up front payment overall it may actually work out cheaper.

IMPORTANT: Please make sure that you answer all of the insurance company’s questions honestly as failure to do so could invalidate your insurance when making a claim.