Car Insurance: How To Get A Cheaper Premium

Car insurance can be expensive, regardless of a driver’s circumstances. Here’s a few ways you can get a cheaper premium…

Shop Around

The golden rule with car insurance is to never, under any circumstances, be loyal. Traditionally, insurance providers imposed a so-called ‘loyalty tax’ on their customers; taking advantage of their idleness and continually upping their premiums. This practice has, fortunately, been banned. However, it still makes sense to shop around and to continually assess your options. There’s likely always a cheaper option.

‘Downsize’ your Car

Your premium will always factor in the type of car your drive, things like its value, how powerful the engine is and whether it’s classified as a luxury or performance model. After all, the more expensive a car is, the bigger a target it may be for thieves or vandals. In which case, it might make sense to opt for something a bit more modest if you want your car insurance to be cheaper.

Protect your No-Claims Bonus 

Insurance companies love customers who never make claims, for obvious reasons. So, they incentivise them with no-claims bonuses; essentially cheaper premiums for not costing them any money. If your vehicle ever receives a moderate amount of damage, it might be more economical to pay for it to be repaired yourself, rather than waiver your bonus.

Pass on Modifications

If you modify your car in any way, you’re legally required to inform your car insurance provider. When you do, they’ll almost certainly increase your premium. This is because car modifications aren’t covered by your car’s warranty and can be costly to repair or replace. Rightly or wrongly, they’re also associated with drivers that take risks.

Get your Mileage Right

The higher your annual mileage, the more of a premium you’ll face. Why? Because the more you drive, the greater your chances of experiencing a collision and making a subsequent claim. In which case, it pays to accurately determine your annual mileage and to avoid paying more than you should.

Think about Security 

The more secure your vehicle is when it’s parked, the less risk it’ll face it terms of being stolen or burglarised. If you can demonstrate to your provider that you’re parking your car in a garage, or use a things like a steering wheel-lock, they’ll likely provide you with a reduce premium.

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