1. Buy from the internet. Most companies offer a discount for online applications as this is an automated process and costs them a lot less to process your application, you can usually see discounts of 5%-10%. Click here to get an instant online insurance quote
2. Shop around. All insurance companies use different formulas to calculate your insurance premium by adding or detracting money after each question they ask you. By shopping around you could find big savings on your insurance premium.
3. Buy extra products. Most insurance companies also do other insurance products ie” Building and content insurance”.Most insurance companies will give extra discounts for purchasing more than one product, by doing this you could save a fair amount on all your insurance premiums.
4. Pay your insurance premium in one go. By paying your insurance premium in full you can avoid paying costly interest charges that would be added if you paid your insurance premium by instalments. Some insurance companies may charge as much as 15% APR on instalments. You may even receive a discount for paying in full. If you can not afford to pay in full check out what rate a small loan would be you may still save some money. Fill out an online loan application.
5. Increase your voluntary excess. Your excess is the amount paid by you in the event of a claim, by increasing this your insurance company should reduce your premium.
6. Lower your annual mileage. Lowering your annual mileage can reduce your premium, most insurance companies will quote you for around 12,000 miles a year. Try and work out how many mile’s you will do if it’s likely to be less you may get a discount. Be honest about this as your insurance company may ask to see old MOTs and service records to verify your mileage in the event of an accident.
7. Have an alarm, immobilizer, or tracker fitted. Theft of and from your vehicle plays a major role in the calculation of your insurance premium. Installing an alarm or immobilizer will give you a small discount on your premium, and installing a tracker could save you a lot of money.
8. Take the advanced driving test. Passing your advanced driving test will show your insurance company that you have extra skill when driving and are less likely to be involved in an accident.
9. Don’t inflate the value of your car. Adding extra value to your car when you apply for an insurance quote will do nothing for you except increase your premium. In the event your car is stolen or written off, you will only be paid the market value of your car at the time of your accident.
10. Look after your credit rating. Insurance companies are now looking at your credit score as part of the calculation for your insurance premium. Maintaining a good credit rating could avoid unnecessary additions to your premium.
11. Insure your car with a third-party company only. Third-party only is the minimum insurance you are required to have by law; it’s also the cheapest. If your vehicle is of low value, then you could consider this type of cover. You need to remember that with this type of coverage, if you were to have an accident, any damage to your vehicle would not be covered for repair.
12. Keep a clean license Insurance companies take driving convictions very seriously and can dramatically increase your car insurance premium. By maintaining a clean license, you prove to the insurance company that you are a safe and careful driver.
13. Remove any unnecessary drivers. If you have a young driver on your insurance policy who no longer uses the vehicle, you should remove them as this will reduce your premium.
14. Young drivers should add an older driver. Some insurance companies will reduce young drivers’ premiums if they have an older named driver on their policy.
15. Build up your no-claims discount. One of the biggest factors affecting your car insurance premium is the number of years of no-claims discounts. You could receive up to 75% off for around 5 years of no claims. The more years you can stay claim-free, the safer a driver your insurance company will see you as.
16. Protect your no-claims discount. Although this will increase your insurance premium, if you have a lot of years of no claims, you may want to protect this, as a small claim may increase your premium by up to 75%.
17. Buy a lower insurance group car. A very important factor in determining your insurance premium is what car you drive. The Association of British Insurance Group Rating is used by the majority of insurance companies. This chart rates vehicles from 1 to 20, and generally speaking, the higher the group, the higher the premium. By buying a car with a lower group rating, you can lower your premium, especially for young or inexperienced drivers.
18. Join a car club. If your vehicle is a classic or specialist, consider joining a club related to it; most clubs offer insurance schemes with very good premium rates.
19. Name your spouse as a named driver. Some insurance companies offer discounts when you add a spouse as a named driver as opposed to unmarried couples; they see marriage as a sign of stability and associate stability with safe driving, so they give you a discount.
Take the pass plus. If you are a new driver, consider taking your pass plus. Some insurance companies could give you as much as a 25% discount, and when you have just passed your test and have no claims, this could make a considerable saving.
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