We’ve put together some top tips that could help save you money.
While allowing your provider to automatically renew your policy ensures there’s no risk of you being uninsured, it does mean you could be paying more than you need to. Our Premium Driver report shows that drivers over 50 can save an average of £45 by shopping around for their car insurance.
Think carefully about optional extras
Optional add-ons, such as a courtesy car or breakdown cover, can hike up the price of your premium. If you don’t want them, don’t include them. But do consider what might happen if you don’t have a replacement car or breakdown cover when you need them – it might be worth it in the end.
Increase your car’s security
If possible, keep your car somewhere secure overnight or invest in an industry-approved alarm system or immobiliser. If you reduce the risk of your car being stolen or vandalised you could cut the cost of your premium – just bear in mind that you may need to speak directly with your insurance provider to get the saving.
Reduce your mileage
All insurance providers will ask for an annual mileage, so set this as low as you realistically can. Try to be accurate. If you significantly underestimate your mileage and have to make a claim, your policy could be invalid. Overestimating could bump you up into the next price bracket.
Tweak your voluntary excess
Increasing your voluntary excess could mean a cheaper monthly premium. Just make sure you can pay both the compulsory excess (set by the provider) and your chosen voluntary excess should you need to make a claim.
Pay for your insurance in one and it’ll save you a few pounds. Spreading the cost of your premium over 12 months could cost more as you might be charged interest on the instalments.