5 Steps To Lower Car Insurance
Tips to remember
Trying to figure out how to bring your car insurance costs down could leave you scratching your head. After all, there’s a knack to getting the best deals and it’s easy to end up overpaying. It’s definitely worth making the effort though. Let’s face it, keeping a car on the roads these days isn’t cheap. As well as insurance, you’ve got to shell out for road tax, servicing, repairs and fuel. After all this, you might be left feeling distinctly out of pocket. Luckily, help is at hand. This guide will talk you through the basics of bagging a car insurance bargain.
Scour The Market
OK, so after a busy day the last thing you’ll want to do is spend hours scouring the market for suitable insurance deals. In a bid to save yourself time and hassle, you might be tempted to go for the first insurance offer you see, or simply to renew with your existing provider time and again. However, this could prove to be a costly mistake. Bear in mind that as long as you know what you’re doing, it’s possible to search the market in no time - and by doing so you stand to save yourself a tidy sum. To make the process as quick and efficient as possible, you can turn to insurance brokers. Just enter your vehicle details into our quick quote form and leave us to do all the legwork. In a matter of moments, we’ll peruse the leading insurance providers on your behalf. You might be surprised by how much money you could save in this way.
Reduce Your Risk
To access the most attractive car insurance offers, it’s important to get your head around the issue of risk. Before insurance companies offer you deals, they calculate how likely they think you are to make a claim. With this in mind, one way to keep your premiums down is to make your vehicle more secure. If you’re lucky enough to have a driveway or garage, park your car in it overnight. Insurers always welcome secure parking spaces because they help to minimise the chances that vehicles will be stolen or vandalised. Also, it’s well worth your while fitting your car with approved security features, such as alarms, immobilisers or trackers. This will cost you a little money upfront, but it could lead to long-term savings.
You can also lower your risk profile by driving less. Of course, there’s no point in having a car if you never get behind the wheel, but if you can find ways to limit your mileage without making compromises in terms of convenience, you stand to save yourself money.
It almost goes without saying, but we’ll mention it anyway - be sure to drive safely too. If you pick up motoring convictions for speeding or other offences, your premiums will go up. Also, if you have to make an insurance claim because you’re involved in an accident, your insurance costs could climb.
You might be able to further reduce your cover costs by adding a second, low-risk named driver to your policy. For example, if you’re a young road user, you may benefit from adding a more experienced motorist to your insurance. That said, don’t be tempted to mislead cover providers by pretending the second driver is the main vehicle user. This is called fronting and it’s illegal.
Pay Attention To Your Policy Options
There’s now a dizzying array of policy options available, and trying to find the perfect product for you could leave your head in a spin. It’s worth picking through your options carefully though because finding the right deal could bring significant savings. For example, consider which policy add-ons, if any, you really need. Perhaps you already have breakdown cover through your bank, meaning there’s no point in paying for this feature as part of your vehicle policy.
Think about your insurance excess too. This is the sum that’s not covered by your policy. For example, if your excess is €300 and you make a claim for €3,500, your insurance settlement will be €3,200. By raising your voluntary excess, you may be able to bring your cover costs down.
Another question to ask yourself is if a third party, fire and theft policy is a better option for you as opposed to a comprehensive deal. However, bear in mind that because many higher risk drivers opt for third party cover, the cost of these policies has risen over recent years. You shouldn’t therefore simply assume that third party cover will necessarily be cheaper. Check the alternatives first.
Take care when adding drivers to your policy as well. For convenience, you might be tempted to put the whole family on your policy. However, depending on the other drivers you have in mind, this could cause your costs to rise. For example, adding young motorists to your policy will almost certainly result in a hike in your premiums.
Choose Your Car With Care
Another top insurance tip is to choose your car with care. The value, model and engine size of your vehicle will all have an impact on your premiums. As a general rule, cheaper, less powerful cars attract lower premiums. For example, if you were to drive around in a vehicle with a 1.1 litre engine, you would be able to access significantly cheaper policies than if you were to opt for a speedier, sportier model with a 3.8 litre V8 engine. It also helps to opt for popular models. Because of the lower cost of replacement parts, they tend to be cheaper to repair.
If you love tweaking your motors to achieve the perfect spec’s and look, you might not welcome the following piece of advice. However, it’s important to mention that from a financial point of view, car modifications are a big no no. Upgrades to performance or styling may look great and improve your experience behind the wheel, but they can result in a potentially significant rise in your cover costs. This is because modified cars tend to be more expensive to fix than standard versions and additions like body kits and alloy wheels can make motors much more attractive to thieves.
Don’t Hesitate To Get In Touch
With these tips to help you, you should find you’re able to access great value car insurance. If you’d like more information about vehicle cover, don’t hesitate to get in touch with our expert team.