Top tips to save on your car insurance

Top tips to save on your car insurance

Nov 17, 2023

Here’s our top ten hints and tips to help you save money this year! Drivers who know the tips can save money on car insurance. If your car insurance is up for renewal, there are a number of steps you can take to make sure you are not paying over the odds.


1. Don’t use your car for business

Using your car for business increases the risk. In other words, the car is driven during the day when it would otherwise be parked up. The more the car is on the road, the more chance it will be involved in an accident. Those drivers using their car for work may also carry goods, samples or equipment which may be stolen and the additional cost to replace such items must be considered.


2. Build up your No Claims Bonus

The no claims bonus is the biggest discount on an insurance policy – earning the first year makes the biggest difference. It usually results in a significant reduction in the premium.


3. Pay your insurance upfront each year

Direct debit incurs additional costs for interest and set up fees. Paying in full avoids these costs. Meanwhile, paying a deposit may also reduce the amount of interest charged as there is a smaller balance to add interest too. 


4. Increase the voluntary excess

The excess is the amount you agree to pay towards the cost of any claim you make on your car insurance. Choosing to increase your voluntary excess can reduce the amount you pay for your insurance premiums. However, the difference between the increase in excess and reduction in premium may not always be beneficial. Always consider how much you could afford to pay in the event of an accident if you were at fault.


5. Install a Telematics tracker for Young Drivers

A telematics device records and monitors the individual’s driving behaviors. Therefore, an insurer can look at the specific person rather than the bracket they fall into, allowing them to pay appropriately for the risk they pose.


6. Pick a car with a low insurance group

High group and high value cars are more expensive to insure as they are more expensive to repair or replace in the event of an accident.  Different models have different features and it is important to know what is included in relation to items such as body kits and built in sat nav devices.


7. Don’t alter your car

Modifications increase the risk and cost of the premium. They often result in additional costs in the event of repairing or replacing your vehicle. Performance related modifications can also be difficult to insure.


8. Drive carefully

The more years you have with no claims or penalty points, the cheaper your insurance. Claims and penalty points are loaded on an insurance policy as they increase the risk. This is usually calculated as a percentage load.


9. Remove covers you don’t need

When you compare car insurance, check whether extras such as courtesy car cover, legal cover and windscreen cover are included as standard, or whether they are add-ons you have to pay for.


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