February 15, 2017
The best ways to save money on your car insurance 0
Last year, the average insurance premium rose to £440; the cost of repairs also rose. All things considered, it makes sense to try and find practical methods to reduce our renewal premiums if possible. We’ve compiled some helpful pointers we think could help you achieve this.
- Pick the lowest insurance group. The band your vehicle falls into obviously makes a huge difference. Things that can help to keep that band rating down are extras like the most up to date driver safety aids. If they’re an optional extra, they might well be worth considering, as they will ultimately increase your safety, whilst lowering your insurance costs.
- Research car security. More than half of car thefts happen at night. If your garage has a lock, it’s worth using it. Next best is a driveway, with the street the last option. Not everyone has a choice about where they can leave their vehicle, especially those who live in the city, but if you do, the extra effort of leaving your car somewhere safe could save you money. If your car doesn’t have an alarm, fitting an approved Thatcham 1 or 2 system will also help keep premiums down.
- Keep your annual mileage down. If you can put a cap on the distance you travel over the course of a year, do so. Make sure it’s realistic though, if you exceed it you’ll either get slapped with a big fee or find your insurance is invalidated.
- Drive with care. Clean licenses result in lower premiums. If you do get caught speeding, take yourself on a speed awareness course, as that would prevent points being removed from your license.
- Protect your No-Claims-Bonus. Because it’s very valuable and worth looking after. If you find yourself with a minor dent or prang, you might want to consider paying for it yourself rather than losing the NCB.
- Consider an advanced driving course. Believe it or not, this could bring your insurance costs down by a third. The Driving Standards Agency’s Pass Plus is targeted at new drivers, wheras the IAM’s RoadSmart courses are aimed towards the more experienced driver.
- Invest in a telemetric black box. For young, newly qualified drivers, one of these could help get you on the road. Provided by your insurance company, it monitors your driving and rewards good driving. Probably best suited for those who don’t drive at night or don’t do many miles.
- Shop around. You don’t owe your insurance company anything. Before renewing, shop around to see if you’re missing out on a better deal elsewhere.
- Aim for excess. When you do need to make a claim, you’ll have to pay the first amount. How much that is depends on the limit you decide upon. Set it higher and the premium will be lower.
- Pay upfront. This will be a struggle for most people, but if you can afford it, pay the whole insurance premium in one go. You’ll save money compared to spreading the instalments out over several payments.
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