Save money on your car insurance with these 10 tips to help you get cheaper car insurance quotes or reduce your monthly premium repayments. Please note that lying to your car insurance company in an attempt to obtain cheaper monthly premiums is a criminal offence and can land you up in some serious trouble, be honest when following this advise.
1: Compare Car Insurance Quotes:
Apply for at least 3 car insurance quotes from different companies. To do this quickly visit an insurance quote comparison website such as Hippo Insurance which makes the process more convenient for you.
2: Insure Your Car For Private Use Only:
If possible, do not insure your car for business purposes but for private use only. Insurance companies will charge more for a vehicle covered for business use than a policy that only covers private use of the car. If you need occasional business use cover then most insurance companies should still give you a reduced premium.
3: Increase Your Excess:
Many insurance companies will grant you a discount on car insurance premiums if you are willing to increase the excess amount on the car. Should you decide to follow this advice though, make sure you can afford to pay the excess if you ever need to make a claim.
4: Drive Carefully:
This maybe a bit of a no brainer but you will qualify for lower premiums from a car insurance provider after a certain period of time without making a claim. Very often termed a “No Claims Bonus”. If your insurer is not willing to give you lower premiums after a period of time with no claims then you have some negotiating ground to stand on so it may be worth shopping around for another car insurance provider.
5: Move House:
Maybe a bit drastic for some but you can pay considerably more expensive vehicle cover premiums if you live in an area that maybe considered high risk due to frequent car theft or a well known area for hijackings.
6: Purchase A Low Risk Car
Insurance companies view high performance vehicles as a higher risk to insure, especially if you are 18-25 years old. There are many vehicles available that are considered a lower risk that still do the job.
7: Park Somewhere Safe
If your car is parked in a garage overnight or behind locked gates or in a complex with 24 hour security most insurance companies will give you a discount for this being preferable to cars parked out in the street overnight or on an open driveway.
8: Vehicle Security Devices
Vehicles fitted with tracking devices, gearlocks, imobilisers, alarms and anti-hijacking devices are less likely to get stolen than those without these security devices so monthly premiums will be cheaper if you have one or more of these installed in your vehicle.
9: Driver Nomination
The more people that are driving your car, the higher your insurance is going to cost. If it is only you driving the car, make sure the cinsurance company is aware of that before they give you a quote, if it is just you and one other person, make sure you specify who they are. The less people that are nominated, the cheaper the insurance will cost.
When you have got a few different car insurance quotes to compare but you are still not entirely happy, speak up. Most insurance companies will be flexible with their policies so you have nothing to lose by negotiating a cheaper monthly premium with them, just be polite about it.