5 simple tips to help you cut your car insurance costs

February 5, 2015


Car InsuranceHaving your own car to get around in can make life much easier, but this convenience doesn’t come cheap. Motoring costs can quickly add up, and this can put a real squeeze on overall household finances. One area of expense is insurance. If you’re not careful, you can end up spending a small fortune on financial protection for your vehicle. Of course, simply forgoing these policies is not an option. However, by following these five simple tips, you should be able to cut your insurance costs.

1) Shop around for the best deals

First and foremost, make sure you shop around for the best deals. Simply opting for the first car insurance quotes you come across, or going with the same provider year after year without checking your options, can be a big mistake. Bear in mind that you don’t have to scour the market for hours on end yourself in order to access the most competitive premiums. Specialist insurance brokers can compare the market for you and present you with impressive offers in a matter of moments.

Make sure you opt for the right type of insurance too. Because they offer the lowest level of cover, many people assume that third party policies are always the cheapest. In fact, comprehensive insurance can sometimes be cheaper. This is because cover providers may consider drivers who take third party products to be in a higher risk category.

2) Take security seriously

You can also save cold, hard cash by taking the issue of security seriously. Fitting approved alarm systems or immobilisers could bring your premiums down. Also, if you use off-street or garage parking, you may benefit from cheaper deals.

3) Consider adding a second driver

Depending on your circumstances, you might benefit from adding a second named driver to your policy. For example, if you’re aged under 25, you may be wise to include another, older motorist with a good insurance record on your policy. Even if this individual doesn’t use your car often, it can help to average out risk and lower your costs. This isn’t always the case, but it’s certainly worth checking.

However, don’t be tempted to engage in so-called ‘fronting’. This is where lower risk drivers add themselves as the main users of a car when in fact they’re not. This is fraud and it invalidates policies. It could also land you in legal trouble.

4) Be savvy in your car selection

Your choice of vehicle will also have an impact on your premiums. Variables like the make, model, engine size and value of your car all impact on your insurance costs. Before you purchase a particular car, make sure you check the associated premiums. As a general rule, it pays off to opt for small engines when you’re trying to keep your costs in check.

5) Keep your mileage down

Last but not least, try to keep your mileage to a minimum. The fewer miles you clock up, the cheaper your insurance will be. When you’re calculating the cost of long car journeys compared with public transport options, make sure you factor in extra insurance expenses. In some cases, it may make more sense to take the bus or train instead of driving.

By following advice like this, you should find it easier to keep your insurance costs under control..