Most people realise
it is a criminal offence to drive without proper insurance,
but many don't realise it is also an offence to withhold information
from an insurer to obtain motor insurance. So it is false
economy to try to cut the cost of car insurance by not telling
the truth. However, there are several legitimate ways in which
you can keep the costs down:
• Do not make a claim - All insurers
offer big no claims discounts if you do not claim - some of
which could save you 75% of the premium cost. For small knocks
its wise not to claim, take a larger excess, or get protected
no claims bonus
• Compare quotes & shop around
- Do not take the very first quote you get. Prices for the
same cover can vary widely - always compare car insurance
quotes from at least two car insurers. It is worth comparing
quotes from a direct car insurance company such as Direct
Line with those from a car insurance broker such as Churchill.
The direct car insurance company will be able to offer you
cheap quotes as it saves money during the Internet sales process,
whilst the car insurance broker will have access to a large
panel of car insurers and will be able to find you the cheapest
quote.
• When renewing your policy - change
your policy to a car insurer you haven’t used before.
This is really easy now there are so many of them with Internet
online car insurance offerings. Many insurers offer start-up
discounts to new customers. You will also be able to move
any accrued NCD easily
as long as you have proof in the form of an invite to renew
document. you will have to be proactive if you want to change
your car insurance at renewal because most insurers will now
send you your renewal documents automatically a couple of
weeks before the renewal date,and debit your credit card or
other payment method if they don't receive a cancellation
request from you
• Take a large Voluntary Excess - Volunteer
to pay more towards any claim. If you agree to pay more than
the basic ‘compulsory excess’ towards any claim,
you could save around an extra 10 per cent a year on the cost
of your policy. Voluntary excesses for car insurance range
from the lowest £50 to the highest voluntary excess
which is typically £250. The amount you save on your
initial premium is determined by how much you are prepared
to 'carry the risk' yourself. If you think you are unlikely
to claim then it is worth taking a higher voluntary excess
as the quotes you will be offered will be a lot less, but
be prepared to pay if you do have an accident.
• Inform the Car insurer what you do for a living.
- Some insurers offer special schemes to people in certain
low-risk occupations (although these are not always the best
deal).
If you work for a large company, you may find that your employer
has negotiated a discount that you could take advantage of
so read your internal company memos.
You may also be offered
a discount if you belong to a trades union, are a member of
the Automobile Association (AA) or Royal Automobile Club (RAC)
or other affinity organisations such as the National Trust
or car owners club.
• Tell your Car insurer about any additional
security measures on your car. - Your insurance quotes
should be a lot cheaper if you have fitted an approved immobiliser
or car alarm. The alarm fitted must be of the type ‘Thatcham
approved’. You may also get a reduction in the amount
quoted if you have had your car registration etched on to
all your car windows, because this is a deterrent to thieves,
who would have to replace all the windows as well as the number
plate in order to hide the car’s identity. A Tracker
device fitted to a car will earn additional discounts which
should more than pay for the cost of the installation over
time..
• Take an advanced-driving
course - If you are a newly qualified driver, some
insurers will give you a discount if you take an advanced-driving
course. These courses usually consist of around six lessons
– your insurer will be able to tell you which courses
count towards a discount. You should weigh up the cost of
the course against the money you could save on your premiums
over time
.
• Explore payment methods - Some insurers
offer a discount if you pay by credit card or direct debit
because this costs them less in administrating and servicing
the policy.
• Combine your insurance together If
you are insuring more than one car and several drivers, you
can save money by putting them all on one policy. This is
extremely beneficial if you have a large family and lots of
cars and drivers.
• Barter over car insurance quotes
- Many insurers will reduce the price they quote for car insurance
if you show them you have found a cheaper quote elsewhere.
Many online car insurance quote engines will now ask you what
you have been quoted elsewhere and what your target premium
is. Even if they will not reduce the price, they may offer
extra cover at no extra cost.
• Take advantage of specialist covers
- If you are female it is always worth checking out the insurers
who deal with lady drivers only, for example sheilas' wheels.
Like wise if you have convictions there are many insurers
around who can offer special negotiated rates for drivers
with convictions.
Step 6 - Saving money on
your car insurance with online discounts!
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Services Authority for the arranging and selling of car insurance.
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