1. Compare policies
Shopping around for the best deal is essential when insuring your car, especially if you are renewing your existing cover. Your current insurance provider will usually offer a renewal quote when your insurance period is coming to an end. Many people simply accept this quote, as it is easier than shopping around. However, there is almost always a better deal to be found. Compare policies from as many different insurance providers as possible, remembering to check the terms and conditions carefully.
2. Install security devices
Many insurance providers offer discounts to those who install security devices in their car. Professional alarm systems, immobilisers, tracking devices and other security devices can all help to bring down the cost of your insurance premiums.
3. Increase your excess
The more you are prepared to pay towards any necessary repairs to your car, the cheaper your insurance premiums are likely to be. Voluntarily increasing the amount of excess you pay can bring a significant reduction to the cost of your car insurance.
4. Consider the model of your car
Certain types or models of car can attract higher insurance premiums. Practical cars for family use will often attract lower insurance costs than sports cars. Before buying a new car, check with your insurer to see how the make and model you choose will affect your insurance premiums.
5. Think carefully before adding people to your policy
Your insurance premiums can be affected by the people you add to your policy. Young drivers, in particular, can increase the amount of insurance you will have to pay. Try to add only those with a clean driving history.
6. Look after your no-claims bonus
Insurers reward those who avoid making a claim on their insurance. One of the best ways to keep your insurance costs to a minimum is to look after your no-claims bonus. Insurance providers often have different rules about the circumstances that will result in the loss of your no-claims bonus. Ask your insurer for clarification of their rules.
Many people simply accept the quote offered by their insurance company. However, negotiating with your insurer can get you a significant reduction on your insurance premiums, especially if you can show that you have found cheaper quotes elsewhere.