Fact: To drive legally in the UK, you're required to have car insurance to protect yourself and other drivers. It is one of many inevitable expenses of owning and driving a vehicle on the road.
While car insurance is a fact of life, high premiums aren't. There are lots of ways to manage the cost of your motor insurance premiums and even reverse recent increases in some instances. Here are only a few tips which could save you well over 10% on your car insurance this year.
1. Search online for the best quotes.
Often, car dealers work with a specific insurer "for your convenience". Prior to snatching the first motor insurance policy you see, perform some research and shop around. Make use of a price comparison site to compare multiple policies side by side. Car insurance quotes can vary by hundreds of pounds for the very same cover.
2. Purchase online at the insurer's website.
Many, if not most, insurance companies provide large discounts when you purchase your cover online. Why? They save money on time and agent commissions in that way. It is standard to offer a 10% discount when you buy your car insurance online. Whilst not everyone can purchase online, there can be significant savings if you can and do.
3. Review when you renew.
Do not merely renew your policy when the time rolls around. Review it to make certain that it still meets your needs and circumstances - after which request a new quote. Insurers will almost always offer a lower quote when you are shopping around for policy than when they think they have you hooked.
4. Secure your car.
Because your premium is based on the risk of damage or loss of your car, every step you take for making your car more secure and safe will reduce your premium. Park it off street or in a garage, add a steering lock or an alarm and see your premiums drop.
5. Drive less.
The less you drive, the less your chance of being involved in an accident. If your mileage is lower than the norm, inform your insurer and determine whether they offer a low mileage discount.
6. Be honest on your application.
Although this technically will not reduce your insurance premium, it can make a big difference when you make a claim. It may be tempting to claim your auntie's suburban address as your garaging site and knock a couple of pounds off your premium - but if you need to make a claim, the insurance company could find out. If they prove you misrepresented the facts on your application, your claim will be declined and may wind up liable for any damages from the accident to boot.
7. Pay in full in the beginning of the policy.
Check with your insurer to uncover if you are charged more for paying in installments. Essentially, when you pay in installments, you're taking a loan from the insurance company for your premium, and paying them back - with interest.
8. Pay by direct debit.
If you do choose to pay in installments, determine if your insurer discounts your premium when you pay by direct debit. Since direct debit greatly decreases the likelihood of late and missed payments, the majority of insurers are pleased to knock several quid off the premium when you pay that way.
9. Add an extra driver to your policy.
In certain cases, adding an additional driver to your policy will lower your premium, particularly if that driver is older, female and has a good driving record.
10. Take a defensive driving course.
Numerous insurance companies will discount your premium if you complete a course in safe or defensive driving. In general, anything that decreases your accident or loss risk may lower your car insurance premiums.
While car insurance is a fact of life, high premiums aren't. There are lots of ways to manage the cost of your motor insurance premiums and even reverse recent increases in some instances. Here are only a few tips which could save you well over 10% on your car insurance this year.
1. Search online for the best quotes.
Often, car dealers work with a specific insurer "for your convenience". Prior to snatching the first motor insurance policy you see, perform some research and shop around. Make use of a price comparison site to compare multiple policies side by side. Car insurance quotes can vary by hundreds of pounds for the very same cover.
2. Purchase online at the insurer's website.
Many, if not most, insurance companies provide large discounts when you purchase your cover online. Why? They save money on time and agent commissions in that way. It is standard to offer a 10% discount when you buy your car insurance online. Whilst not everyone can purchase online, there can be significant savings if you can and do.
3. Review when you renew.
Do not merely renew your policy when the time rolls around. Review it to make certain that it still meets your needs and circumstances - after which request a new quote. Insurers will almost always offer a lower quote when you are shopping around for policy than when they think they have you hooked.
4. Secure your car.
Because your premium is based on the risk of damage or loss of your car, every step you take for making your car more secure and safe will reduce your premium. Park it off street or in a garage, add a steering lock or an alarm and see your premiums drop.
5. Drive less.
The less you drive, the less your chance of being involved in an accident. If your mileage is lower than the norm, inform your insurer and determine whether they offer a low mileage discount.
6. Be honest on your application.
Although this technically will not reduce your insurance premium, it can make a big difference when you make a claim. It may be tempting to claim your auntie's suburban address as your garaging site and knock a couple of pounds off your premium - but if you need to make a claim, the insurance company could find out. If they prove you misrepresented the facts on your application, your claim will be declined and may wind up liable for any damages from the accident to boot.
7. Pay in full in the beginning of the policy.
Check with your insurer to uncover if you are charged more for paying in installments. Essentially, when you pay in installments, you're taking a loan from the insurance company for your premium, and paying them back - with interest.
8. Pay by direct debit.
If you do choose to pay in installments, determine if your insurer discounts your premium when you pay by direct debit. Since direct debit greatly decreases the likelihood of late and missed payments, the majority of insurers are pleased to knock several quid off the premium when you pay that way.
9. Add an extra driver to your policy.
In certain cases, adding an additional driver to your policy will lower your premium, particularly if that driver is older, female and has a good driving record.
10. Take a defensive driving course.
Numerous insurance companies will discount your premium if you complete a course in safe or defensive driving. In general, anything that decreases your accident or loss risk may lower your car insurance premiums.
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