If you are looking to save money on your car insurance, you will want to utilize some of the tips discussed below.
1. Do Comparison Shopping
First, you should be doing a lot of comparison shopping. It is estimated by the Association of British Insurers that you can save as much as 1/3 of your entire annual premium if you simply shop around. Take a look at car.co.uk. Don’t be lazy and accept the quote you are given by the issuer you are already using.
2. Don’t Allow Others To Drive Your Vehicle
This might be obvious, but you should aim to limit the total number of drivers you allow to drive your vehicle. The more drivers you allow to drive, the more people you have to cover. This is only going to drive up the total cost of your insurance. This is especially true if you are insuring younger drivers. Younger drivers are seen as much riskier bets for insurers. Thus, it can drive up your premiums by a lot if you are insuring multiple children.
3. Try To Aim For a Higher Excess
You want to keep an eye out for the excess charge you have. This is the charge that you are agreeing to pay out of pocket for repairs. The larger this number is, the smaller your policy payment will be.
4. Avoid Using Your Vehicle For Work
One key thing you should be doing is avoid mixing your vehicle usage with your work. By only using it for personal reasons, you can reduce your premium payments.
5. Give Yourself a Mileage Cap
It’s important to understand how insurance works. The riskier you are, the more your premiums will be. Thus, if you agree to have your car on the road less, you will be at a reduced risk of getting into an accident. You should be able to score anywhere from a 10 to 20 percent discount by simply agreeing to a specific mileage cap. Try to agree to the lowest mileage cap that could work for you. This can end up saving you a lot of money especially if you have multiple cars in your household.
6. Don’t Purchase Through Intermediaries
One of the things you should avoid doing is going through ‘middle-men.’ Instead, you want to go directly to the provider. By purchasing insurance through a broker, you could raise your premiums by as much as 3 percent.
7. Purchase Your Insurance Online
A lot of insurance companies will be willing and able to give you as much as a 5 percent discount to purchase your insurance online.
8. Purchase a More Affordable Vehicle
By buying a vehicle that is less risky to insurers, you will be able to reduce your payments by a considerable margin.
9. Keep Your Vehicle In a Garage
You want to keep your vehicle either in a garage or directly on your driveway. This can reduce your payments by as much as 10 percent in some cases.
10. Score an Introductory Discount
You could ask whether or not you qualify for a discount for signing up for a new policy. You may find you qualify if you have driven a business vehicle in the past with no claim bonus.
11. Find Out Ways To Protect Your No Claims Bonus
You will want to look for ways to protect this bonus. One of them is typically by paying upfront for a portion of the premium. While you would have to pay a small amount upfront, it will end up saving you money in the long run because you would be protecting your bonus.
12. Get a Black Box
Having a black box can reduce your payments. This is a box that is installed in your vehicle and it monitors your driving habits. It essentially is there to detect how careful of a driver you are. Agreeing to different curfews could also be a good way to lower your premiums. This is typically one of the best ways to limit your insurance premiums as a younger and less experienced driver. That way, you can show that you are a safe driver rather than say it.