1 The more details you can give, the better
This might sound obvious, but ensuring you fill in your insurance application form correctly, online or otherwise, will help you get the insurance your circumstances demand.
Hundreds of factors are taken in account when car insurance companies generate your quote. Everything from your age and the type of car you’ll be driving through to your driving experience and address will affect how much you pay to cover your car each year.
This is even more important for drivers who have recently passed their test. Newly qualified drivers already pay some of the highest insurance premiums, so making sure you get the details right, such as who the primary and secondary drivers of a car are and what your job title is, could mean you save money when you take out insurance. They need to see this as the natural next focus after the practical and theory tests are passed and it deserves the care and attention those tests took.
Remember though, falsifying details could result in a prosecution for fraud.
2 Amend your cover level
More extensive cover doesn’t always mean more expense. For instance, many companies offer fully comprehensive cover that is actually cheaper than that for third-party, fire and theft. People who specify the latter are considered a higher risk than those who choose blanket coverage.
Make sure you comb through your quote before confirming to find out what you’d actually be paying for. Often there is a whole host of extras that you likely won’t need. Don’t travel to Europe? Then ditch European breakdown cover. Happy to take a bus when your car is in the garage? You don’t need a courtesy car. Don’t pay for things you don’t need. Pay attention to the detail and you might pay less.
3 Compare quotes
While weighing up quotes websites such as Confused.com and GoCompare.com scan the market for the best car insurance deals, they don’t necessarily check it in its entirety. So there’s more than likely a deal out there for you that hasn’t been returned on a comparison website.
Specialist insurance brokers, on the other hand, may charge for their services, but they may be able to create a bespoke quote for you that works out cheaper over the year.
And don’t forget to get in touch with your current car insurance provider (if you have one), they may match a competing quote if it means they get to hang on to your custom.
4 Protect your no-claims bonus
The longer you drive without a claim being made on your insurance, the bigger and better your no-claims bonus will be. Protecting it could mean your premium gets a few pounds more expensive, but that’s barely anything when you consider what your premium would cost were you to lose the discount altogether (it could cost up to hundreds of pounds more).
However, the definition of a protected no-claims bonus varies among providers, so make sure you’re familiar with your chosen insurer’s policy.
5 Install a black box
A little like those found on aircraft, an insurance black box is installed on your car to monitor how you drive. Data from the system is fed back to your insurer: your speed, handling, the times at which drive and more could all determine how much you pay for your insurance. The more careful you are on the road, the better your premium will be. There’s more on how the system works in this Daily Mail article.
Get more tips for lowering your car insurance from MoneySavingExpert.com.