Car insurance can be eye-wateringly expensive, especially for new and younger drivers. Here’s how to keep costs down…
Choose an Appropriate Vehicle
The car you choose will be at the heart of your car insurance costs. The car’s ultimate value, and the strength of its engine, are major factors for the vast majority of providers. Naturally, the more expensive a vehicle is the more of a liability it is; and stronger engines may mean faster speeds, which increase the possibility of accidents and reckless behaviour.
If you need to save money, then, choose an appropriate vehicle based on your actual needs. Do you really need something to serve as a status symbol or, indeed, something capable of doing 0 – 60 in less than three seconds? Base your choice how often, and under what conditions, you drive.
Consider Black Box Technology
Getting a black box installed is basically a driver’s way of saying ‘I’m a good driver and I can prove it’. It may seem invasive, but it’ll nearly always entail a cheaper car insurance premium. They typically monitor harsh movements i.e. how you’re approaching turns or manoeuvres, but some also monitor speeds. They’re a sound investment for new and younger drivers, but everyone can benefit.
Don’t Bother With Car Mods
Modifying your car will, in nearly every instance, increase your car insurance premium. And yes, you are legally required to notify your provider when you make a modification. Car mods can be expensive, and therefore costly to repair. They’re also, rightly or wrongly, associated with less risk-averse demographics. So, say no to that spoiler you’ve been eyeing-up if you want to save money.
Aggressively Shop Around
Nowadays, it’s possible to get multiple car insurance quotes in just minutes. So, it makes sense to shop around and see what’s actually available. Determine the best kind of policy for you and then, ideally, try to get at least three quotes before making a commitment. It’s the best way to make a real saving.
Be Proudly Disloyal
It doesn’t pay to be loyal in the car insurance industry. Until recently, providers were actually able to impose a ‘loyalty charge’, quietly raising the premiums of long-standing customers who were seemingly too disinterested to shop around. Whilst they can no longer do this, there’s no guarantee that they’ll be passing on savings or reducing costs when they can. In which case, don’t be loyal. Always assess your options and go with the provider that’s best for you.
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