How to keep your insurance costs low

Insurance premiums are getting more expensive every year, but there are certain tricks you can try to ensure you get the best deal for your money.

Running a car in today’s world does not come cheap when you factor in fuel, MOT, tax, insurance, parking costs and all other unexpected costs. One thing for sure is insurance premiums are only going up and not down, but there are certain tricks you can try to ensure you get the best deal for your money.

It doesn’t matter what your sex is or whether you’re young or old, give these a try and they may help to keep your insurance costs low.

car insurance

Get at least 3 quotes

This should be a given, always shop around first. We recommend that you get at least 3 – 5 quotes from different insurance companies. You can do this online or by phoning them up, you can also try different comparison sites. But ideally, you should have an array of quotes before making a decision and don’t be afraid to switch if you get a better deal.

It is also a good idea to ask friends and family members who they use and if they have had any issues with certain insurance companies etc. You should also do some research online on consumer protection sites and forums etc for any complaints and recommendations etc.

Research insurance costs before picking a car

Before choosing what type of car you’re going to buy do some in depth research into the car and how much it is going to cost you to insure it. Remember insurance premiums are calculated based on your car’s value, how much it would cost to repair it, the likelihood of theft and how safe the car is.

Check the safety ratings of the car you’re buying and if the make and model you are buying are often stolen, both of these factors will go along way to keeping the cost of your insurance down.

Buy Multiple insurance coverages from the same company

Most insurance companies will give you a discount if you buy both house and car insurance coverage from them. A discount might also be offered if you have more than one car covered with them, but like mentioned above you should still shop around and do your research.

Give yourself time to renew your current policy

Whatever you do, don’t leave this till the last minute. Give yourself plenty of time to shop around before your current policy expires, we recommend you start looking it to it 3-4 weeks before you need to renew it.

Pay up front

It will be cheaper if you pay the full amount upfront rather than it is to spread it out over a year. As insurers will charge you interest rates.

Other Factors To Consider

  • Make sure only those who drive the car are named on the policy.
  • Lower mileage cars will be cheaper to insure.
  • Secure your car.
  • Modifications can raise the price of your insurance.
  • If you are a young driver who has just passed their test, you should add a more experienced driver to your policy.
  • Protect your no claims bonus.
  • Cut down on extras e.g Windscreen cover.

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