In the current financial climate any way that you can reduce or contain your expenditure is to be welcomed. In recent years you have no doubt seen your car insurance premiums increase each year and may have done nothing about it.
Below are some tips that may result in you being able to maintain or reduce the premiums you are currently paying: –
– When you receive your renewal notice shop around by going on the Internet to get some quotes from a car insurance price comparison website to see if you can get a better deal elsewhere.
– If you have been able to get a cheaper quote than you are currently paying for the same cover with a different car insurer then speak with the business retention unit of your existing insurer and see if they will match or better the premium you have been quoted.
– If you can afford to pay the annual car insurance premium in one go then seriously consider doing so. The reason for this is that when you pay monthly the car insurance company normally charge interest on top of the yearly premium.
– If you are able to lock your car in the garage each night rather than leaving it on the street then the premium is likely to be lower because the risk of the car insurance company having to pay out is lower.
– Review the voluntary excess you are paying. If you feel that you could pay more towards the cost of an accident repair to your car then you could consider increasing your excess which is likely to result in your car insurance premium being reduced.
– Telematics Black Box policies are becoming more popular because the premium is partly based upon how you drive your car and could result in lower premiums.
– If you are looking to replace your car then consider buying one that is in a lower car insurance group than the one you are presently in that is likely to reduce your premium.
– Check who you said could drive the car when you first applied for car insurance on it as, if you had said anyone could drive it over say 25 years of age, then if you changed that to naming the drivers you are happy to let drive your car then the premium may well reduce.
– Take the advanced driving test as there are a number of car insurers that will take this into account when calculating your car insurance premium.
– Drive carefully avoiding getting speeding fines as your premium may increase if you did receive a fine.
– Fit an alarm, immobiliser and tracking device which will make your car less likely to be stolen and may result in a lower premium.
– Be accurate about the number of miles you travel each year. If you only do 5,000 per annum don’t tell the car insurance company you do 25,000 as your premiums are likely to be more because the more miles you do the more likely you are to have an accident.
Hopefully these tips may help you to either contain or reduce your car insurance premium when it comes up for review.