As car insurance premiums reach phenomenal heights, many of us are looking for ways to reduce the cost of our policies. Whether you’re looking for the best deal on car insurance, or want to compare van insurance policies, here are some handy tips to remember when trying to get the best value for your money.
New drivers should consider Pass Plus
The majority of new drivers are under the age of 25, the age group which is usually charged the highest insurance rates. Pass Plus is a short course which is designed to give new drivers confidence and more experience on the road. This course usually costs just over £100 and can translate into a 30 to 40 per cent discount on a new driver’s first year of insurance.
Consider what you can do to reduce your premium
Modifications such as light or sound systems increase the value of your car, which can have a knock-on effect on your premium. All modifications except an alarm (which usually means a lower quote due to enhanced security), should be avoided if you want to keep your premium down. As well as this, it might be worth looking into parking in a garage; off-road parking can reduce your premium by around five per cent.
Shop around online
Try car insurance comparison websites to save time and money. Comparison sites search through hundreds of insurance providers finding deals based on your individual requirements, giving you the choice to compare costs and levels of cover.
Start shopping a month before you need to
Quotes often change depending on the time of the month. By looking a month ahead, you can save any quotes you find for up to 28 days while searching for cheaper premiums a few weeks later. If the prices have gone up, you still have your saved search from the start of the month to refer back to.
Consider putting others on your claim
Putting your partner on your policy could reduce the overall risk, especially if you’ve had any previous incidents, and can therefore lower your claim. If you are part of a one-car family, insurance companies often give lower quotes when a woman is named as the main driver; however, from December 2012 gender will no longer be factored into insurance prices. Only add someone to policies if they do actually drive the car regularly; naming yourself as the main driver of a car you don’t drive simply to lower insurance costs is called ‘fronting’, and is considered fraud.
Don’t assume that third party insurance will be cheaper than fully comp
Get a quote for both insurance types and choose the cheapest. Third party is often more expensive as insurers will work under the illusion that you care less about your car, and so have a greater risk of being involved in an accident.
The most important thing to remember is to be honest at all times. Dishonesty can invalidate a claim and could lead to you being prosecuted for fraud. Being savvy can save you hundreds of pounds; take your time to compare every deal before deciding which company is right for you.
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