Trying to buy car insurance can be quite a daunting experience, and with the myriad products and sales channels available today, it is often difficult to know where to begin the process. It can get even more complicated when you start reducing your premiums without sacrificing your level of cover or increasing your risk.
Since most motor insurance is basically assessed based on your date of birth and age, and your postcode or zip code, lack or aging of moving property, it can often seem that reducing your auto insurance premiums is an impossible task. Is.
It’s not necessary! Whichever method or distribution outlet you use to buy car insurance, if you consider these twelve money-saving tips, the implementation of either one will guarantee a reduction in your premiums both at policy inception or renewal. . Simply making changes to any one of these premium rating factors that go into making the quotes given to you will result in an alternative quote that should be in your favor.
Before we do remember – don’t automatically renew your policy with the same company. It is virtually guaranteed that if you shop around and compare covers and prices from different providers you may find a similar cover cheaper with another insurance company.
1. Explore the Internet – Visit Various Suppliers
If you were being paid at least £150 or $200 for two hours of work, you should be pleased. You should look at the minimum amount you can save on your annual premium by spending a few hours shopping for quotes on the Internet.
Visit the car insurance supermarket comparison site. If the premiums are too expensive, but you prefer the cover offered by a particular insurance company, meet the supplier directly and cut the middleman’s expense.
The big motor insurance comparison sites you see advertised on television all the time will send you to the supplier site itself to complete the ‘deal’, so closing the application, clearing cookies from your browser’s memory is the most important thing to do. Good that you are not charged with their commission, and contact the insurance company directly.
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Apart from this, you should visit a specialist auto insurance plan provider. These were once only available on the High Street, but are now springing up online everywhere. No matter what your special one needs, whether it’s a women’s driver cover or perhaps a classic car cover, specialist car insurance providers by their very nature usually offer cheap quotes because they exceed the economies of scale allowed by group purchases of cover. are benefitted.
2. Do Your Research
Who’s Offering Deals on Television at the moment? Everyone who wants motor insurance is a person with a different car and the need for individual cover depends on their circumstances. Write down what you think your exact cover needs are and think about where you can find providers for your individual needs. For example, if you are a senior citizen, you should search the internet for specialist car insurance plans of over the fifties.
3. Go for No Frills Policy
If you are not concerned about the quality of cover and need only basic road risks, go for one of the many policies now being offered by insurance supermarkets as ‘Value Car Insurance. These policies generally provide only the basics of cover required under the Road Traffic Act, although can be very suitable for low mileage, cheap cars, and small drivers.
4. Get Cover Only For What You Need
Why pay for the cost of including car breakdown insurance or other sometimes hidden extras like a replacement vehicle should you have an accident when you already have AA breakdown cover and sitting on the driveway at home There is another car you can use. Check your existing policy cover details carefully and exclude all unnecessary or duplicate covers.
5. Take Your Own Risks
With car insurance, you have two basic options for taking on more risk on yourself. These are, either comprehensive or third party, perhaps with fire and theft options, by choosing how much coverage you need in the first place. Secondly, before calling the insurance company to make a claim, you are given the option on most systems to choose how much of the accident damage cost you are willing to bear on your own. This is known as a voluntary excess and is the amount that will always be deducted first from any amount you claim. If the cost of repairing an accident does not exceed the voluntary additional amount chosen by you, it would be prudent to pay the cost of the repair yourself rather than lose your No Claim Bonus.
6. Minimize car risks with better car and location security
You will get more discount if you park your car off-road or in the garage at night. If you own a classic car that doesn’t have them fitted as standard, fitting safety devices, for example, car alarms, immobilizers, and your car’s GPS tracker will reduce your premium significantly.
7. Improve your driving or change your lifestyle
If you need to make a claim because of the way you drive, or if you have more than one SP30 for faster speeds, your premiums are going to be heavy upon renewal. So you can reduce your insurance costs by improving the way you use your car or by making lifestyle changes.
8. Cut down on your car usage
By thinking about how you use your car and reducing unnecessary trips, you are cutting down on your use of your cars and the risk you present to an underwriter. Check how many miles you run each year and make sure that’s what you’re paying for! Do not declare wrong mileage in an attempt to save money as in case of a claim, your mileage and MOT, if applicable, will be noted by the claim assessor. If there is a significant difference between the declared mileage and the actual amount you drove, you risk the claim being denied or severely reduced in value
9. Pay the entire premium amount in advance
Most UK insurance companies charge an additional cost to handle the monthly direct debit payment. There is often an effective discount of five to ten percent if you pay by debit card immediately online or over the phone.
10. Check out specialist insurance and car insurance plans
Check with insurance experts for car types that target specific groups of people, for example performance motor insurance or cover for younger drivers. These plans offer specific policy options and revised covers for a specific specialist driver group. They are often much cheaper than standardized covers offered by comparison sites because they have a large group bulk purchase economy with respect to underwriting and claims and a known risk pool of similar types of people and cars.
11. Join a Car Club
Many car owner’s clubs and specialist marks clubs have special affinity group rates for specialist car insurance plans. The cost of obtaining membership to these clubs can often be less than the five to ten percent savings you can make on your premiums by joining such a plan.
12. Take Advance Driving Course
You can save another huge percentage with most online insurance companies if you took the Advanced Driving Skills Course or ADC. The courses are run nationally and the cost of the course is more than the annual savings you make on your insurance premiums. Savings are greater for younger drivers and it is one of the few positive actions a young driver can take to reduce their annual auto insurance costs.
And finally – bargaining!
And here’s an additional trick we often find handy when all else fails. Fill out a quote on the Internet for the policy you want with the company of your choice. Do not complete the bid outside the screen where premium prices are displayed, save only the quote reference number. Quotes are usually legally binding for thirty days.
Leave it for a while then pick up the phone and call the insurance company. Tell them you’re having trouble completing the online quotation. They will ask you for the quote reference number and then you will have all your details in front of you. When they tell you the bid amount (which you should already know), tell them you have a quote that is a hundred cheap from the company, and ask if that’s the best they can do. You’ll be surprised how much you can save on your car insurance costs just by bargaining!