A common mistake people make on their insurance premiums is letting it automatically renew.
If you tend to this, we urge you to stop because some insurance providers tend to take advantage and raise the price of the premium. To stop this from happening, we suggest you look around the market for a cheaper deal that can still provide you with your desired cover.
We’ve outlined 10 hints and tips on how you can save money on car insurance – keep these in mind when it’s time to renew your car insurance:
1. Limit your Mileage
This may sound like an obvious one but it could save you a lot of money in the long run because fewer miles expended means you’re a lower risk to insurance providers.
We suggest walking, cycling or taking public transport to places you may not need to drive to, this will be a game-changer for you.
But make sure you always give an accurate estimate on your possible mileage to your insurance provider, otherwise, your policy could be invalidated.
2. Pay annually
If you can, we recommended you pay for your premium annually. This will slash the cost of your insurance quote because paying monthly will require a loan with interest added on top of it.
If you cannot afford to pay annually. There’s always the option of using your credit card (if you have one). Just make sure you’re making regular payments into your card.
3. Improve your No Claims Bonus Discount
A sure-fire way to keep the cost of your car insurance down. Your No Claims Bonus Discount assures insurance providers that you’re a low-risk driver.
Stay safe and claim free on the road and your insurance provider will reward you!
4. Pay for what you need
Insurance is extremely personal. When you’re choosing your policy make sure you’re paying for addons that you need. Do not choose a more expensive policy with unnecessary add ons that you may not need.
We suggest you either speak to our team and we’ll talk you through the right cover for you or you can look at comparison sites.
5. Consider the type of cover you need
If you have an older vehicle that isn’t worth much, it may be in your best interest to opt for third party only or third party fire and theft policy, rather than comprehensive cover.
But be mindful – third party only or third party fire and theft might not offer you the level of cover you need and it’s not always cheaper than comprehensive cover. 6
6. Avoid modifications
Whether they’re an upgrade in your car’s performance or aesthetics – modifications will increase the price of your insurance.
Moreover, adding modifications can attract the wrong attention to your car. Modified vehicles tend to have higher theft rates. As a result, insurance providers tend to raise the price of premiums on modified vehicles.
7. Take an extra driving course
Advanced driving courses like pass plus may cost you money but these extra driving qualifications can get you a discount on your car insurance quotes (on some occasions). They’re particularly useful for young or inexperienced drivers.
It’s worth remembering that not all insurance providers will give you a discount if you have completed an advanced driving course, so look around the market and find a provider that does.
Installing telematics by either a black box or through a mobile app lowers your insurance premium because the devices record and track data from your driving. These devices give insurance providers vital insight into your driving behavior. Additionally, on mobile applications, you can gain insight into how you need to improve your driving.
A bonus to installing a black box is it also acts as a tracker if your car gets stolen. Installing telematics is a sure way to decrease your insurance quotes, no matter what your age is.
9. Shop around for the right quote
This tip should come as no surprise. This is one of the best money-saving tips we have.
Getting the right insurance can be a pain but with today’s technology, it doesn’t have to be. Make sure you look around the market – whether that’s specialist insurance providers or comparison sites.
10. Use Quote Detective?
Our industry-leading system isn’t limited to the restrictions of a standard software house (commonly found in insurance companies). As a result, we can pull insurance quotes from big and small insurance providers in the UK.
Additionally, our team makes it their mission to beat the price of your current premium. We save our customers up to £300 on their renewals!
Give our team a call today on 0333 222 4005 ad start to save money on car insurance.