Time to save on your car insurance

Car insurance can be an inconvenient annual expense. It may seem to creep up on you each year but unfortunately it is a legal requirement. To drive on UK roads, you will need at least TPO cover, though there are other levels of cover available. Thankfully there are steps you can take to save on car insurance each year to make the unwanted cost more affordable. Keep reading if you want to find out what these are!

1. Increase your excess

Increasing your voluntary excess when you take out a policy will reduce your annual premium. An excess is the amount you agree to pay in the event of an accident. If you make a claim for £1000 and your excess is £250, this is what you will pay and the insurer will cover the rest.
A higher premium will show the insurer that you are not likely to make a claim. This will drive down how much you pay when you take out the policy.
Changing the excess when looking on comparison sites will give you an idea of just how much a higher excess will save you. You must not set your excess so high that you won’t be able to pay if you do claim.

2. Having additional drivers on your policy

Adding more experienced drivers will help to reduce your premium. If you will be the main driver however, you must make sure this is reflected in your policy. Adding someone with more driving experience as the principal driver to lower the premium is an offence known as fronting. This is fraud and can result is severe consequences so only add someone else as an additional driver!
If you give any false information for a cheaper premium will be detected by insurers and your policy will be void. Do not do it!

3. Build up an NCB

Having a high No Claims Discount will help to lower your car insurances costs. An NCB is something you can build up over the years by driving but not making a claim. This shows insurers that you are a low risk, prompting them to offer you a lower premium.
Unfortunately, this takes time but you will reap the rewards when you have practiced your claim-free driving! This is one of the best ways to reduce your premium consistently as it is recognised by insurers across the UK.

4. Pay annually

Paying annually will help you save money on your car insurance. By paying in one chunk, you will save on the interest monthly instalments would gather overtime. This can be as much as 30% more in some instances! Clearly paying in one go can be expensive so only do this if you are in a position to do so!

5. Security

By adding extra security devices onto your car, you could save yourself money when getting car insurance. Something as simple as an immobiliser or alarm can help to reduce your premium. Insurers will view your vehicle as less of a risk than a car with no protection. These devices reduce the risk of theft so ultimately you are less likely to make a claim. Further to this, keeping your car in off-street parking will help to keep costs low. This way, your vehicle is unlikely to be the target of an opportunistic theft or break-in. Keep that car safe!

6. Keep your mileage low

Easier said than done I hear you say. Reducing the distance you travel annually in your car will help to reduce your costs but it’s important not to underestimate. Clearly this isn’t for everyone but less time on the roads means less chance of claiming and an accident. You should not underestimate your mileage just for the sake of a few pennies, though. Providing false information can render your policy invalid and insurers won’t pay your claims. Clearly it’s best to avoid this at all costs.

7. Check the comparison sites at renewal time

It can never hurt to have a scout at renewal time to find you the best price on your insurance. This way you can have a play around with the numbers to find the right policy for you. It will also give you a list of providers who can supply you with the best and cheapest price. Simply letting your policy auto-renew may cost you hundreds of pounds every year. You may want to try more than one as prices may differ between the comparison sites.

8. Consider what level of cover you need

Comprehensive is often regarded as the most expensive level of cover and consequently avoided. Although Third Party may sometimes be cheaper, it is important not to discount comprehensive. Third Party is the minimum level of cover required to take on the British roads while comprehensive is at the other end of the scale. This does not mean that one will always be cheaper than the other. Comprehensive also offer a greater level of cover and therefore may be right for you. On the comparison sites, try with each cover to see what prices you get before deciding on one. Third Party, fire and theft is also available and is covers more than third party but less than comprehensive. It entirely depends upon the situation and the insurer as to what will be more expensive. This is why it is important to scout around for the best quotes.

9. Think about what vehicle to buy

Cars with smaller engines will be cheaper to insure than big bruisers. Insurers use ‘groups’ to categorise cars and how much they will cost to insure. The lower the group, the easier to insure for a cheaper price. A 1.1 litre Renault Clio will be cheaper to insure than a Range Rover Autobiography for example. Clearly there are other factors such as the age and experience of the driver but as a rule of thumb, insurance will be cheaper for smaller cars. Road tax will also be cheaper for the Clio.

10. Take a driving course

Taking a driving course may help to reduce your insurance costs and insurers love to see it. Although there is an initial price of around £200, it will more than pay itself off over your driving career. This may be a pass plus qualification which can be done quickly and will be on your record for years. This shows your experience on the road and that you can handle anything the road can throw at you.

There’s no denying that car insurance can be an inconvenience. There are ways to make it a little less tedious and can hopefully reduce your annual premium and save you money! If you would like a free quote, contact us at 0333 222 4005 and speak to one of our experts!