9 Easy Ways To Lower Your Car Insurance Premium

Monday, April 15, 2013, AM | 10 Comments

Car insurance can be the most expensive aspect to owning a car… But did you know there are some really easy ways to cut the cost of your premium? Check these 9 simple, mostly cost-free tips out…

  1. Don’t get caught in an insurance trap!

    This one’s very simple… Before buying a new car, check how much it will cost to insure.

  2. Choose to pay a higher excess

    By increasing your voluntary and agreeing to pay more towards the cost of repairs in case of accident, you’ll receive a lower premium. However, on the other hand, don’t offer to pay too much – be mindful of the actual value of your car.

  3. Have your insurer install a black box recorder

    Getting a black box (otherwise known as telematics) will help your insurer get a better picture of what kind of driver you are, because it will record things like speed, handling, and the times of day/night you drive. E’s a great option for younger, less experienced drivers who tend to get stung by automatically higher premiums.

  4. Safeguard your no-claims bonus

    The longer you manage to keep your no-claims bonus without claiming, the bigger the discount you accrue – so be sure to pay a couple of quid extra and get that bonus insured (trust us, you won’t regret it if you have an accident, which could wipe a 90% discount clean off the board!) However, beware because the definition of protected no-claims bonus can vary widely between insurers – always read the fine print.

  5. Stick to a lower mileage

    The logic here is that if you drive less, there’s less chance of you having an accident and claiming. The average 35-year-old female, for example, can get a discount of £50 by cutting her mileage by 5,000 p/a. However, don’t be bold and falsely claim a lower mileage – get caught out and you could be in serious, serious trouble.

  6. Avoid adding young and/or inexperienced drivers

    This point is particularly pertinent if you have a powerful vehicle, but applies to all drivers. Insurers base the cost of your premium on the age and experience of the youngest driver… So – given that they would a) be expensive to insure and b) have zero no-claims bonus, adding them would drive your premium sky high.

  7. Don’t add occasional drivers to your policy

    If a driver doesn’t use your car very often, then it’s not worth adding them – remember you can always pay for the odd few days if the time comes when you really need to!

  8. Buy or declare your existing security features

    Most new models come with an approved immobiliser, alarm and/or tracking device – so always check what yours comes with and make sure you let your insurer know. And if your car has none of these features, getting one or all three fitted could bag you a discount of up to 5%.

  9. If you have a garage, use it

    Insurers will deem your car to be safer from theft and/or vandalism if you keep it locked in a garage overnight – it’s as simple as that.

Author BIO

Fi is a writer for personal finance and business tips blog, buzzingfinance.com. If you’d like to find out some handy tips and advice on how to save and make money, then give it a read. And if you’d like to share your own experiences and advice, then get in touch to offer a guest post through the Write for Us page.

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  1. 10 Responses to “9 Easy Ways To Lower Your Car Insurance Premium”

  2. By http://anyessay.co.uk/ on Apr 15, 2013, 7:47 am | Reply

    I hope you do not stop writing these great articles!

  3. By Free Money Minute on Apr 15, 2013, 1:51 pm | Reply

    I find that having a higher deductible and paying the entire bill (either the entire year or 6 months) have been the two best ways to reduce my insurance bill. Thanks for sharing these other tips.

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