Car insurance is something that nearly all motorists want, whether they are a new driver or an experienced motorist. There are a number of key things that a driver can do to reduce the cost of their car insurance. Here we take a look at five of the best ways a driver can bring their premium down.
Don’t Pay Monthly
One of the biggest mistakes people tend to make when buying car insurance is paying for it monthly. When money is tight, people might feel that they cannot afford to pay hundreds of pounds all in one go. The problem is, by paying monthly, a driver will be charged more for their insurance over the course of the year. Typically this can be as much as 24% more. A much better option is to try to save some money over the course of the year, ready to pay for the car insurance all in one annual premium.
Always Search for a New Quote
Another big mistake that people often make is to accept the renewal quote sent to them after they have been with an insurance company for a year. Although this can look like a very reasonable offer if the person has built up some No Claims Bonus, it is almost certainly a lot more than a new customer would be charged. Even applying to the same insurance company as a new customer can save someone a lot of money.
Use Price Comparison Websites
Price comparison websites are great, but it is worth checking several of them because they don’t all list the same insurance companies. The best price comparison sites, with the best at the top, are:
- Money Supermarket
- Compare the Market
- Tesco Compare
- Go Compare
It is also worth taking a look at Direct Line, as they are not on any price comparison websites.
Make the Vehicle More Secure
A person can lower their insurance premium by installing any Thatcham approved vehicle security devices. There are devices to prevent the vehicle being stolen, such as:
- Electronic Alarm and Immobiliser
- Electronic/Electromechanical Immobiliser
- Electronic Alarm Upgrade
- Mechanical Immobiliser
- Wheel Locking Devices
There are also devices designed to help find a vehicle once it has been stolen, such as:
- After-Theft Systems for Vehicle Recovery
- Stolen Vehicle Tracking Systems
- Stolen Vehicle Location Systems
Created by the Driving Standards Agency, the Pass Plus scheme provides additional training for drivers who have just passed their test. It is designed to make young drivers safer and more experienced on the roads, and will usually result in a lower insurance premium.