Car insurance is mandatory, but you do not have to pay more than you have to pay. A few steps, combined with the time spent browsing for competitive car insurance rates, can save you a lot of money at the time of renewal.
Step 1 – Reduce risks and costs
The easiest way to reduce your car insurance premiums is to reduce the risk and accept a higher voluntary excess. The standard excess of an insurer may be £ 100, but if you meet the first £ 250 of any claim, your premium will be reduced. It’s because you take more risks, so you get a discount. But it is a bet, keep in mind that you may have to pay the cost of broken glass after an attempted theft or an invoice for the repair of the body after a parking closure.
Step 2 – Security means saving
The installation of security devices can also result in cheap car insurance premiums. All major insurers insist on Thatcham’s classified security equipment, generally a minimum of an alarm. If you live in an area with a high risk of car-related crime, it makes sense to increase safety. This saves you money when you need to renew your insurance and it gives you more peace of mind.
Step 3: annual mileage, less money, more in your pocket
If your annual mileage is 5,000 km or less, ask insurers if they offer discounts for the agreed mileage restrictions.
Step 4: Board of appointed pilots
Adding a designated driver to your policy can increase or decrease your premiums based on the age, gender and driving the history of the designated driver. Adding a young driver will increase your premiums, especially with a limited or poor driving record. However, adding a driver over the age of 30 with a long and clean driving record can reduce premiums, especially if the named driver is a woman!
Step 5 – Buy and save even more
The biggest savings in car insurance comes from purchases. There can be big differences between the lowest and highest car insurance quotes for exactly the same car and the same driver. Start using good comparative online quotation sites, take your best quotes and go directly to the cheapest car insurance company for more specific quotes.
Therefore, the next time your renewal budget arrives, do not accept it and give your money to the insurance company. Follow the steps above and get the right coverage at the right price.