I’m sure many of you have, at one point or other, been on the receiving end of seemingly exorbitant premiums.
Whether this is a cause of points on your licence, an unexpected loss of no claims due to collision or merely the result of buying that speedy little car you’ve had your eye on for years, it can still be a nasty surprise.
There are a few things you can do however to decrease the price of those monster policies and here they are:
- Don’t accept the renewal you receive from your existing insurer as 9 times out of 10, you will find a cheaper policy by searching around online.
- Do be as accurate as you can with your estimated mileage – rounding up this figure will cost more as you will be increasing your risk due to more time spent on the road.
- Add an older more experienced driver to your policy – this will bring the premium down as having this less risky driver makes you a safer prospect.
- If you can afford to pay out a higher excess at the time of a claim you can increase this figure on a prospective policy to bring the premium down. (Please be aware this decrease is not proportional to the amount you have increased your excess by, i.e. if you increase your excess from £250 - £500 you will not usually save £250 on your premium).
- If your vehicle does not have an immobiliser or alarm system consider getting one or both installed as this will mean your car is at less risk off theft and bring that premium down further still.
So remember – never accept the first quote you get for car insurance, shop around and try applying a few of the above tips to ensure you get a cheaper car insurance quote.
The same goes for any insurance policies you wish to renew – shop around!
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