The one thing that all car owners can do to save money on car insurance is to be a better driver: that’s not a tip; that’s the reality. Safe drivers save money in the long term as they gain experience and build a no-claims bonus. Car insurance companies are not philanthropists; they are there to make a profit and are frankly pretty hard-nosed about it. In short, it falls to us, the drivers to help ourselves.
You’d Better Shop Around
Brand loyalty went out of the window a long time ago now. As with utility companies and the like, car insurers are primarily interested in new business. Sticking with the same company year on year will mean that most motorists will face every increasing premiums. These days the solution is to switch. It’s a pain having to do it but it is the best way to save on car insurance; sometimes substantial savings can be made.
Make sure the cover is what you want though as some policies can seem cheaper but don’t have the same perks; for example, a courtesy car. The answer is to use a comparison service; there are several, to do the leg work for you. Make sure all your details are correct and items like voluntary excess are as needed and see who offers the best deal. For a really detailed comparison remember that some companies are not on comparison websites so made need an individual approach.
Finally, before finally committing to a new provider, check with the existing company to see if they will make a better offer. You never know.
Increase The Excess
Most quotes will include a mandatory excess payment by you, the customer. This is to stop trivial claims for small amounts under, say, £150. It is then possibly to add a voluntary excess too. This will depend largely on personal finances. By adding, for example, another £250 to the excess amount (meaning the customer will pay the first £400 of any claim) could mean a reduction in premiums. This can work well but make sure it suits the budget.
The garage that may be attached to the property is often used as a kind of storage depot for all the junk owners can’t quite bear to throw away. In fact, the ideal use of the personal garage is for the safe-keeping of cars. A locked garage will please an insurer and mean lower premiums, particularly in high-risk areas. If a garage isn’t available at least try to get the car off-road in as safe an environment as possible. Cars just parked on the road will attract higher premiums. Remember too, that insurers will always check in the event of a claim. So make sure you declare this honestly.
The No-Claims Bonus
Over time car owners who do not make claims will build up a no-claims bonus (NCB). This is valuable and can radically affect insurance quotes. All insurers will offer, for an extra small fee, to protect that NCB in the event of a claim, although not necessarily in the event of multiple-claims. Paying the extra is definitely worth it. Money will be saved long-term. Always check the policy.
The average motorist will drive somewhere between ten and twelve thousand miles a year for social, domestic and pleasure purposes. The question to ask yourself is, ‘is this drive really necessary’? Reducing the average mileage declaration to under 10,000 – and the more the better – will mean a small saving: every little helps.
Adding a young, inexperienced driver to your policy can be a false economy as the premium will still be affected by the youngest driver. If they do not have any NCB of their own, it will be worse. Car insurance is tough on young drivers but it is still best if they insure in their own right to accumulate their own NCB. Taking the ‘black box’ route is the ideal way for young drivers to start making inroads into high premiums. Ask the insurer.
When investing in a quality used car
, like the excellent one-owner vehicles we offer at eCars247, it pays to buy the best insurance affordable: That doesn’t mean you can’t save money at the same time.