Car insurance is just another one of life’s expenses, and it can be particularly rough for young drivers or those without a perfect record. The good news is there are a few ways you can save money on your car insurance, it just takes a little know how.
Consider fully comprehensive
It’s often assumed that opting for third party insurance always works out cheaper. However, this isn’t always the case and sometimes, you can actually save money with a fully comprehensive policy. So, don’t assume anything and make sure you research thoroughly for the cheapest possible option.
Use your garage
As tempting as it is to just park your car in the most convenient place, parking it in a garage or driveway is a big deterrent to thieves, and insurance companies know this! If you have access to parking on your property, then use it, it could save you up to 7% on your car insurance policy.
Add an experienced driver to your policy
New driver? Well the good news is you can substantially reduce the no doubt astronomical price of your car insurance by adding your parents to your policy. It’s not what you wanted to hear, but just having an experienced driver named on your policy can dramatically reduce the cost.
Another tip for new drivers: some insurance companies will lower the price of your policy if you’ve got a Pass Plus certificate. Pass Plus is a course you can take after you’ve passed your driving test to help you become more confident on the roads, and it costs around £200. Do note that only some insurers offer cheaper policies for those who have completed Pass Plus, so do your research beforehand. It might even turn out that you can get cheaper insurance from a company that don’t offer a discount for those with Pass Plus, so make sure you’re savvy.
Don’t modify your car
This doesn’t apply to security modifications (which can actually lower insurance costs), but it does apply to things like adding alloy wheels. Making non-standard modifications to your car can increase the cost of your insurance, so it’s probably best to just leave it well alone.
Smaller engine, smaller cost
Cars with smaller engines are usually in lower insurance groups, meaning they’re cheaper to insure. When buying a car it’s important to think ahead about insurance; whilst that Porsche might seem like the perfect car, don’t get caught up and forget about how much it’s going to cost to insure. If you can afford the sky-high insurance, then go for it, but make sure you check out www.skyinsurance.co.uk when shopping around.
Don’t renew immediately
Your current insurer may have been the cheapest last year, but things change and prices go up (particularly if you’re no longer a new customer). Shop around and use price comparison websites before taking out a new policy and you might just save yourself some money.
For a really extensive list of tips, check out the Money Saving Expert guide to car insurance.