How to Get Cheaper Car insurance UK
Car insurance is an indispensable part of owning a car, but that shouldn’t mean it has to take up a big part of your budget.
When it comes to choosing car insurance, it pays to be smart. Here are 12 tips to find the cheapest car insurance available, and one that’s right for you.
Don’t Settle for the First Policy You Find
The internet is a treasure trove of information and a good starting point for car owners. It can be as easy as opening Google and typing in ‘cheap car insurance’, then browsing through the first few selections, but here’s a better way.
You can compare prices manually or go to online comparison sites to check if car insurance A is cheaper than car insurance B. After doing this you’ll have an idea of which one can save you money even in long term.
Choose an Annual Policy
Companies, car insurance firms included will usually give out discounts when you commit to their service longer. This means that their price will be lower if you pay annually rather than monthly. However, if using credit keep in mind that you have to pay it off or else risk accruing interest and late fees. In the same vein, try and see if there are any running promotions that can lower the costs of insurance even more.
Pick Your Add-Ons
Most coverage will have attachments or add-ons that include windscreen cover, car cover, legal cover and more.
A wise car owner will check to see if they’re already a part of the standard policy, and also read through each one and see if they’re really needed. Remember, the more add-ons the higher your monthly payment.
Pay a Higher Excess If You Can Afford It
Compulsory excesses are those you pay for in the event of a claim, but there’s also such a thing called voluntary excess which can drive the costs of insurance down. Whenever you’re going through a claim process, consider paying a higher amount of excess. It may sound counterintuitive but this money-saving tactic works.
Fully Comprehensive or Third Party?
It’s easy to assume that third party insurance is much cheaper compared to a full comprehensive plan, but this isn’t always the case. Studies have found that there are more claims on third party car coverage than the others, which could drive costs up not just for you but for all the other car owners out there.
Bottom line is, make sure to include fully comprehensive on your list so you can get all available options.
Consider taking an Advanced Driving Course
If you have the time then you’ll want to go beyond the basic driving course. Insurance companies reward those who take the more complex route with lower premiums.
These courses usually take anywhere between 3 to 6 months and focus on the finer points of driving, including positioning, timing, observation, control and making good decisions while facing unpredictable roads. Afterwards, shop around and you’ll likely find a car insurance that offers lower costs for advanced drivers.
Opt Out of Auto Renewal
A renewal letter is usually sent to policy holders to tell them that they will be charged again for their car insurances. Once this comes in the mail, give your company a call and ask for promotions and offers they can give. Shopping around for cheaper car insurance is acceptable, and you can tell your insurer the discounts and price you see online or with other companies. Then, they can negotiate or set the price equal to the offer, which saves you money in the end.
Protect Your Car and Install Safety Measures
To get a lower premium you’ll have to show the insurers that you’re taking good care of your vehicle. The items you need may be different depending on the location or city, but you’ll want to keep your car on a private drive or garage when it’s not in use, or have a tracker or immobilizer installed for good measure.
Add an Experienced Driver
It’s possible to have another driver on your car insurance policy at an added cost, but if you play it well then the premium will surely go down. The trick is to add an older and more experienced driver, one that has many years navigating busy streets and highways. Your partner or parents can serve as co-guarantors and equal a cheaper policy.
Install a Black Box
Car owners can get a Black Box to record their driving habits. When you install a black box you’ll have to make sure that you’re driving well and within speed limits as the device acts as a tracker. Establish a good driving record and your insurer just might reward you with lower premiums come renewal time.
The Car Dictates the Premium
While it may not be a good idea to switch cars abruptly, this tip will come in useful later on when you do need an upgrade or replacement. As a rule of thumb, cars with bigger engines usually command a higher premium. So, an SUV or a truck will have a costlier monthly insurance compared to a compact car.
If you’re in the market for a classic vehicle then you’ll want a custom package that’s tailor-fit to your particular needs.
Don’t File a Claim If You Don’t Really Need To
The whole point of getting insurance is for the claims, but you will want to play it smart and only file them for the biggest cases. The lesser the claim you make each year the safer the driver you’re considered to be. Insurance companies will want to have those kinds of customers, and as such they’ll be willing to give you a lower monthly rate.
These 12 tips are your best bet to finding the cheapest car insurance for your vehicle. Whether as a first time driver or someone who’s looking for the best rate, these suggestions will help you get the most of your car insurance.