12 Tips to Save Money on Car Insurance to Lower Your Premiums
It can be difficult to find car insurance and with the multitude of options and sales channels that are available today, it is often difficult to determine which one to choose. You can make it even more challenging if you attempt to lower your rates without increasing the risk or decreasing the amount of coverage you have.
Most motor insurance is rated based on your birth date as well as your age. It’s not possible to lower your insurance costs if you’ve not relocated or aged.
This isn’t always the case. Whatever method you employ to purchase insurance for your vehicle these money-saving tricks can almost guarantee that your rates will be lower in the beginning and when you renew. Simply making adjustments to any of these premium rating factors that determine the quotes you are given, will result in an alternative quote which should be to your favour.
Car Insurance tips to save money explained
Remember to not renew automatically your insurance with the exact same firm before we begin. If you compare the prices and the coverage of different insurance companies, it’s almost certain that you will get similar coverage for less.
1. Explore via the Internet Check out various suppliers
If you are getting at minimum PS150 or $200 for just two hours of work You should be satisfied. This is the minimum amount you could be saving on your annual premiums if you’ve spent some time searching for quotes online.
Visit a supermarket for car insurance comparison site. If you find the rates too costly but you love the coverage provided by a specific insurance provider, then go to the company directly and eliminate the cost of the middleman.
The website will direct you to the largest sites for comparison of motor insurance which are advertised on TV.
You must also go to an insurance company that specializes in autos. They were once only available in the High Street, but they are now easily accessible online. Car insurance specialists are able to offer lower rates regardless of your individual needs.
2. Do your research
What are the latest television deals? Everyone who needs motor insurance is an individual who has a different car and individual insurance requirements based on their circumstances. Consider what your specific requirements are regarding insurance and the best insurance providers that meet these needs. If you are a senior citizen is recommended to search the Internet for car insurance policies that are geared towards those who are over 50.
3. Choose a policy that is simple
If you are not worried about quality of cover and are only looking for the most basic road risk, opt to one of the numerous policies currently sold by insurance stores as “value car insurance”. Although these policies do not provide the full coverage required by the Road Traffic Act and may only be suitable for young drivers or cars that have low mileage, they can still be useful.
4. You should only buy the coverage you truly need.
Why do you need to pay for breakdown insurance or any other obscure extras, such as the cost of acquiring another vehicle should you be involved in an accident when you already have A breakdown insurance policy and a car parked at home that you can make use of. Make sure you review your existing policy information carefully and eliminate any unnecessary or duplicate policies.
5. Accept the risk
You have two options in taking on more risk when it comes to Car Insurance. You can choose how much coverage you want to begin with. It could be comprehensive or third-party, with the option of theft and fire. On most insurance systems, you have the ability to choose the amount of the damage would like to pay prior to an insurance company filing an offer. This is known as the voluntary excess and is the amount which will always be first deducted from any amount you claim. If the repair costs of an accident are not any more than the amount of voluntary excess you’ve selected, it’s advisable to pay for the repair costs yourself, in order to avoid losing the no claims bonus.
6. A better security system for cars and locations can reduce the risk of cars
If you park your car off road or garage it in the evening, you’ll receive further discounts. If you own a vintage car which does not have them fitted as standard, putting in security devices, for example car alarms, immobilizers or GPS trackers, to your vehicle will substantially reduce your premium
7. Improve your driving or change your life style
If you are required to file a claim because of the way you drive, or if you’ve earned more than one SP30 for speeding, your insurance premiums are going to be heavily increased at renewal. It is possible to lower your insurance expenses by changing the way you drive or altering your way of life.
8. Reduce the use of your Car Insurance
You can decrease the amount of time you drive your car, and thus the risk you take to an underwriter. Be aware of the miles you run up each year , and be sure that this is the amount you’re paying for! Don’t make a false mileage claim in order to save money, because should you ever make claims the mileage you have driven and your MOT, if necessary, will be noted by the claims assessor. If there is a significant gap between the mileage you declare and the actual mileage you have traveled, you may be liable to have your claim denied or reduced in value.
9. You must pay the entire premium upfront
The majority of UK insurance companies have additional charges for processing monthly direct debit transactions. You can often get discounts of between five and ten per cent if you pay online immediately or over the phone with a debit card.
10. Look into specialist insurance and car insurance plans
Investigate insurance specialists that target particular groups of individuals of a vehicle type, like the performance motor insurance, or insurance for children’s drivers. These insurance plans offer unique policy options and cover tailored to the specific driver class. They can be much cheaper than standardised insurance plans provided by comparison sites because they benefit from large-scale buying economies regarding underwriting and claims and a known risk pool with similar people and car.
11. Join an Car Insurance club
Many car owners ‘ associations and specialist marques clubs have special affinity group rates for specialist car insurance schemes. These clubs tend to be less expensive than the savings of five to ten per cent on your cost of insurance.
12. Master advanced driving techniques
Online insurance companies will help you save more, especially if your driver’s training includes an ADC (Advanced Driving Skills Course). The courses are available across the country, and the annual savings on your insurance premiums outweigh the cost. Young drivers have a higher chance of saving money and this is one positive method of reducing the cost of their vehicle insurance.