Car insurance is a mandatory product all motorists have to take out before they can drive their cars. It provides cover in case your car gets damaged by fire, or it gets stolen. With comprehensive policies, it also pays for repairs to your car in case of accidental damage.
The insurance industry likes to tell us that the cost of policies has gone down in recent years. But most people are still paying a lot for their car insurance. If you’re one of those affected by high insurance costs, check out these tips to learn how you can pay less for it!
Keep your driving licence clean
One sure-fire way to raise the price of your car insurance is to have a driving licence filled with endorsements. Those penalty points could range from speeding past a fixed camera to drink-driving offences.
You should always make sure that your driving licence is clean if you want the best chance of getting cheaper car insurance. If your driving skills leave a lot to be desired, it might be worth going on an advanced driver’s course.
Picking up bad driving habits can often have severe effects, the evidence of which is visible on your driving licence!
Choose the right level of cover
Let’s say you buy a car on finance from somewhere like Sandles Car Supermarket. As part of the deal, you will need to take out a comprehensive insurance policy. But did you know that if you own your car outright, you could opt for a third-party fire and theft policy instead?
In some cases, TPFT policies are cheaper than comprehensive ones. But it’s worth getting quotes for both. As bizarre as it sounds, comprehensive policies can sometimes be more affordable! I know, it sounds weird, right?
The truth is; some insurers assume consumers that buy TPFT policies don’t care about their cars or how they drive. That’s why they assume such drivers are higher risk.
Add your spouse to your policy
By adding your spouse to your insurance policy, you could enjoy some significant discounts! Again, the reason is down to risk.
Because two of you are on the policy, the risk gets split by 50%. As it’s your spouse on the policy, insurers will assume you will do more to look after your car and ensure it is roadworthy. When you next renew your policy, it’s worth getting quotes with and without your spouse on there to see the price difference.
Get quotes four weeks before your policy expires
What insurance firms won’t tell you is that buying insurance well before the start date will make your policy cheaper! The closer you get to the renewal date, the higher the price will be.
Make a note in your diary or your smartphone’s calendar to remind you of this fact. That way, you can ensure you get the best possible deal for your renewal! And, remember, don’t be afraid to get quotes from different insurers. Loyalty to one insurance firm won’t do you any favours!