All of our content is approved by our in-house advisory board of experts
Top tips to get cheaper car insurance
- Find out how you can keep down the cost of car insurance
- Running a car is a necessity for many families: how else do you get back from work and take the kids to football in 30 minutes flat?
- With the average annual cost of comprehensive cover increasing so much recently, more of us are looking for cheaper car insurance
When it comes to insuring your car, every saving counts.
When it comes to insuring your car, every saving counts. The good news is there are some fairly simple steps you can take to shave precious pounds off your premium. Here are seven tips that could help you find the most affordable policy for you.
1. Select the right job
No, we don’t mean you should have stuck to that dream of being a rocket scientist. But the type of work you do and the industry you work in can make a difference in terms of what insurance quote you’re given, so make sure you pick the one that best describes what you do.
Remember – you need to fill in your quote form accurately to avoid getting into hot water when you come to claim, but it’s worth checking through the list to find your exact profession which could have a positive effect on your premium.
2. Be wise with your policy
There are ways you can save money if you reconsider how you’re shopping for insurance. For instance, at LV= we offer loyalty discounts for existing customers who have bought other products from us, while insuring more than one vehicle can make your policy more affordable via multi-car discounts.Buying online can also be cheaper than picking up the phone, with insurers often offering online discounts on their products – so think ahead about how you buy and pay for your policy.
It’s tempting to be drawn to the cheapest policy, but it’s not always the most cost-effective choice.
3. Don’t get caught out
It’s tempting to be drawn to the cheapest policy, but it’s not always the most cost-effective choice. Not all providers will cover the same things, so you may find yourself caught out.
For instance, if you put the wrong fuel in your car or lose the keys and your provider doesn’t cover it, you could find yourself unexpectedly out of pocket. If it does happen, you’ll probably wish you’d paid a little more for a product that was more comprehensive.
When it comes to having a policy that will have you covered no matter what, adding elements to your policy – like protecting your NCD – can mean you won’t have any nasty surprises.
4. Add another driver
At LV=, most of our policyholders over the age of 25 are allowed to drive someone else’s car (with their permission) on third party only cover. However, to make sure you both get a higher level of cover, it’s always wise to add them to your insurance.
Depending on their driving history, adding another driver could also save you some money. Your premium will be based on the calculated risk of all drivers included on the policy. If this is an older, more experienced driver then it could save you money – but be careful as younger or less experienced drivers could cost you more.
It’s also a great way of making sure someone else can be the designated driver on an evening out. Just make sure you’re not blurring the lines between main and additional drivers, as this could invalidate your policy. The main driver should be the person who uses the car most often.
5. Keep your mileage in check
Even if you’re a great driver (and we’re sure you are), the more you drive, the higher the chance you’ll be involved in an accident.
So, if you’re able to trim the number of miles you clock up each year, you could make some savings on the cost of your insurance – why not check your MOT so you’re confident you’ve given us accurate information. Maybe think about the benefits of car-pooling or getting public transport from time to time.
Doing this even just once or twice a week can reduce your overall mileage throughout the year, plus you’ll be doing your bit for the environment. Bonus.
Buying online can also be cheaper than picking up the phone.
6. Up your voluntary excess
Voluntary excess is the amount you agree to pay in the event of a claim. You can set this higher or lower, depending on how much you’re willing to pay.Increasing your voluntary excess can reduce the overall cost of your premium. Just be careful that you don’t take it too far and risk leaving yourself with a hefty bill you’d struggle to pay.
7. Choose your wheels wisely
The type of car you’re insuring can obviously make a big difference to how much you’ll pay for your insurance. Some cars are more expensive to replace or repair than others, while certain models are viewed as higher risk because they’re more frequently involved in claims.
Making modifications to your car can also push up the price of your premium. A modification is any change that alters your car from the manufacturer’s standard specifications and are usually either performance-related or cosmetic.
Changing the engine’s performance can increase the speed of a vehicle, while adding new alloy wheels could make it more attractive to thieves. Both are likely to push up your insurance costs. On the other hand, improving your car’s security could reduce your premium.
Every insurer groups car models into categories based on their respective risk. In the higher, more expensive categories you’ll find sports cars with bigger engines, while smaller cars with good safety features, for example AEB, will fall into the more affordable category.
To save some money, do a bit of research and consider a car that sits in one of the lower insurance categories. To get you started, you can check out our guide to insurance groups.
This article contains links to other sites, and we're not responsible for the contents of any of these websites.