Cheaper car insurance is something we motorists spend a great deal of time searching for come renewal time. And while it might seem a bit of a hassle, rather than letting your car insurance policy roll over, shopping around for a deal can prove worthwhile.
Even better still, there are a number of factors you can improve in the eyes of your insurer to give you a cheaper quote.
So, want to find out how to get cheaper car insurance? Read on…
WHAT LEVEL OF COVER DO YOU NEED?
Think about the extras that can often get attached to car insurance policies. If you’ve got a second car, you might not need a courtesy car in the event of an accident.
Legal expenses cover can sometimes be thrown in for free – the same as a breakdown policy. But do you need it? Make an assessment based on how much driving you do, and always read the small print to see what’s included.
We mentioned making an assessment on what extras you need based on how much driving you do. Cutting your annual mileage is another way to reduce your car insurance costs.
It stands to reason if you travel just 5,000 miles per year compared to someone that drives around 10,000 miles per year, you are less exposed to potential risks, which should yield lower insurance premiums.
OR DRIVE MORE
No, we’re not being stupid. By taking an additional driving course, such as those run by the Institute of Advanced Motorists, your insurer will consider you more competent behind the wheel (if it recognises the course and the organisation, of course), which could result in a discount on the cost of your cover.
It’ll more than likely be large enough to offset the cost of any training, but besides, it’ll make you a safer and more aware driver, which has to be a good thing.
FIT A DASHCAM
Most leading insurance providers are offering discounted insurance premiums when thier drivers fit dashcams to thier cars. If you are unlucky enough to be involved in a car accident, the insurance company can use the video evidence to support your claim if you weren’t at fault, protect you if you’re involved in a crash-for-cash scam, as well as any other incident on the road that you’re part of but not responsible for.
It may also help if you witness another crash, which could prove extremely valuable to a police investigation if needed.
Teamed with a dashcam, telematics insurance could significantly reduce your yearly premiums. The system – a little black box fitted to your car – records how fast you drive, how aggressively you accelerate, brake and steer, the times of day (or night) you are behind the wheel and the physical route you take.
Sticking to the speed limits, driving gently, avoiding peak times like rush hour and steering clear of accident black spots can all have a positive effect on the price of your car insurance. But remember, if you drive erratically while on a telematics policy, your cover costs could also go up.
We’re not seriously suggesting you move house to find cheaper car insurance, but if you do change your address or are looking to buy a new place, consider the areas insurance rating.
Think about if your potential new home has off-street parking, or even better, a secure garage. This can help drop your annual premiums as overnight security is improved significantly.
While improving the security of where your car is stored overnight can help get you a discount on your motor insurance, improving the security of your vehicle can, too.
If your car doesn’t have an alarm or immobiliser, consider fitting an aftermarket security device approved by your insurer – even a steering lock can help.
ADD A NAMED DRIVER
We’ll preface this with a caveat. If you are the main driver of any vehicle, you must declare that to your insurance company. However, if you are under 25, adding a named driver to your policy – potentially someone who is older and more experienced than you – could actually lower the price of your premium.
We mentioned it above, but shopping around can be a surprisingly easy way to find cheaper car insurance. You current car insurer will likely send you a note letting you know your policy will be automatically renewed at a given price once it lapses.
Sometimes by even just ringing your insurer up and contesting that renewal quote you can get a bit more discount.
Ring round a few more companies, however. One might significantly undercut your current insurer, or be prepared to match their offer but give a better deal in terms of extras. A few hours spent here can save you a useful amount.
THIRD PARTY CAR INSURANCE
If your vehicle isn’t that expensive, think about opting for third party cover, or third party fire and theft cover.
Unlike a fully comprehensive policy, this will only cover you against third parties – i.e. your insurer will only pay for the repairs to or the replacement of any other vehicles involved, not your own.
But if your car is not worth all that much, it could save you a decent chunk every year. Third party is the minimum level of cover you need to drive in the UK, though, so don’t go thinking of winging it with no insurance, whatever you do.