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How to reduce the cost of your car insurance

Compact Cars, Bridgend

August 17, 2017 at 4:03 PM

The price of car insurance can at times consume a huge amount from your driving budget. The rise of numerous car insurance premiums makes it necessary to ensure that you acquire the best value premium quote that satisfies your insurance budget. Here are the top 10 tips to get cheaper car insurance.

Shop around for the best insurance quotes.


Comparing the various car insurance deals being offered by different insurance policy providers is one of the best approaches that aid in saving on the cost of car insurance. Remember to shop around for car insurance policies that have the same level of cover like the one you are claiming. You can as well use online comparison services that allow you to compare and contrast the insurance covers offered by different car insurers. Comparing the cost of the various car insurance policies will enable you to make a right choice of the insurance coverage that best satisfies your car insurance budget.


Limit the number of drivers that operate your car.


Covering more drivers in your car policy is likely to be costly. It is important that you mention only regular drivers in the policy. Adding experienced drivers to your policy will ultimately bring down the insurance cover cost.


Avoid paying the insurance premium in instalments.

It is important that you pay your insurance premium in one payment. Paying your premium in instalments is always more expensive since most insurers charge an extra administration fee to the instalment payments.

Mind your Credit Score.

Most insurance policy providers usually take into consideration an individual credit score when making insurance rate calculations. Your credit score can determine the cost you pay for a car insurance cover. Having a bad credit score may cause you to pay more. It is therefore important to maintain your credit score in a tip-top shape through paying your bills in a regular and timely manner.

Evaluate insurance policy costs before purchasing a vehicle.

The make and model of your vehicle can significantly impact on your premium rate. New and expensive classy cars will attract more insurance costs than older and cheaper regular vehicles. It is recommended that you inquire from your insurance provider the insurance rate of each type of vehicle before making a purchase.

Reduce the Annual Mileage.

Reduced annual mileage attracts greater insurance premium savings. Many car insurers usually extend discounts to policy holders with lower annual mileage. Also, driving fewer than the average miles per year reduces your risk factor hence you are charged less by your insurance carrier.

Sign up for Blackbox Policies.

Also referred to as Telematics, a Blackbox policy is a process where an insurer installs a monitoring system on your car that checks on your driving behaviour. The Blackbox usually monitors your speed, checks on how you accelerate and brake and also how cautious you are when driving. Drivers who drive carefully are rewarded with cheaper insurance premiums. Blackbox policies also attract huge up front discounts.

Secure your car.

Fitting an alarm and also having a functional tracking gadget and immobiliser aids in lowering your insurance premium. It is recommended that you implement these security standards before contacting any car insurer.

Use a Garage.

Many car insurers prefer when cars are secured in garages overnight. A garage ultimately reduces the risk of car theft compared to when the car is kept outside or on the road. Mentioning a garage when purchasing a car insurance policy will reduce the overall cost of the insurance premium.

Request a higher voluntary excess charge.

Insurance policies usually include an excess charge (the amount the car owner pays for any repairs that he/she claims for). Agreeing to spend more towards the cost of any repairs claimed will ultimately reduce the cost of your car insurance premium.

The car insurance element is among the most expensive elements of being a driver. As a car owner, you must take the necessary precautions to ensure that you get the best premium at an affordable cost.

 


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