With average car insurance premiums appearing to be on the increase as we move into the New Year, we thought we would take a look at some ways that you could possibly reduce the cost of such cover. Obviously, in doing so, it is important that you make sure that the level of insurance in place on your vehicle is adequate to meet your requirements.
When arranging car insurance there will likely be a compulsory excess that you will have to pay towards the cost of any accident or theft claim that is made. However, in addition, you may also be able to pay a voluntary excess. This means that you would have to pay more towards the cost of a claim but in doing so you should pay a lower premium. Obviously, if you decide on this option, you will need to make sure that you have access to enough funds to cover both excesses.
We have mentioned this on a number of occasions in the past but we make no apologies for raising it once again. You may wish to obtain a number of quotes for your car insurance by using the likes of a price comparison website whether you are arranging cover for the first time or have received a renewal notice from your existing insurer. This will enable you to compare prices from several insurers to see if you can get a better deal for the same cover.
Number of miles driven
One of the questions when applying for car insurance is how many miles per annum you estimate you will drive per annum. The more miles you do then the more likely you are to be involved in a car accident so a motorist doing 30,000 miles per annum is likely to be charged more for their insurance than someone who only does 5,000 miles each year. So, provide an accurate estimate of the mileage – don’t just “pick a figure out of the air”
Where you leave your car overnight can have an impact on the premium you pay. If you leave your car on the street outside your house it is more likely to be stolen or hit by a passing vehicle than if it had been parked on your drive or put in the garage overnight. So, if there is an option to lock your car in the garage each evening, do so.
If your car is fitted with the likes of an alarm or immobilizer it is less likely to be stolen by a car thief and so your premiums are likely to be lower.
We hope that the above is of some assistance.