How to Reduce the Cost of Your Car Insurance

‏Car insurance costs can be a nightmare, and many people find it increasingly difficult to pay. With so many factors that can affect your car insurance, knowing how to cut the costs down is important. Here are just a few simple tricks to follow so you can begin paying less for your car insurance.

Choosing the Right Car

The car that you decide to purchase can make a huge difference to your car insurance costs. If you don’t yet have a car or you are looking to choose another, shop around for car insurance prices for each vehicle before you even think about purchasing. Factors that can affect your car insurance prices include engine size, so unless you specifically want a sports car, then steer clear of cars such as these.

Use Your Car Wisely

If you drive less miles, you will pay less on your car insurance. This means using your car wisely as this isn’t just better for the environment, it’s also better for your bank account. Never lie about how many miles you do, as if you were to be in a crash and make a claim, your insurance might not pay out if you have done many more miles than you claim to do. Your job can also affect this; for example, if you are a shift worker that works both night and days, you may have to pay more for your insurance as accidents are more likely to happen at night. If this is the case, it may be best to find alternative transport for work.

Choosing the Cheapest Car Insurance

Finding the best car insurance means that you pay the least you can for the same amount of cover. The easiest way to find the cheapest car insurance in the UK is by using a price comparison website. A price comparison website shows you the cheapest insurance along with the cover you get for the price.

Depending on what you are looking for, you can find many companies online that offer cheap insurance such as

Third party car insurance is the lowest level of insurance you can get within the UK, but this only covers you for damage to another person’s car. You should understand all levels of cover before choosing a policy as you may get a shock if you are in an accident and realise your insurance doesn’t cover damage to your own car.

Another way to reduce your car insurance is by using a black box which tracks how well you drive. To use one of these, you must drive well and stick to the speed limits, otherwise you could be paying extra fees for unsafe driving. This is a great way to see how well you drive and how you could drive better.

Increase the Excess

If you want cheaper car insurance, you could consider increasing the excess of your policy. However, it’s important to bear in mind that if you opt for a higher excess and you end up in an accident, you will have to pay this before your insurance will pay out any more. Choosing an excess that you can truly afford means that you won’t end up in a worse financial situation further down the line.

Pay for the Year

Car insurance is often cheaper if you choose to pay the whole fee straight off, rather than paying in monthly instalments. If you can afford to do so, it is better to pay this way as you also don’t have to worry about a monthly bill coming out of your account. This may mean saving money beforehand, or it may mean a month where you don’t have much spare money, but if it cuts down your bill by £100+, it’s worth it.

Following these tips, you should be able to get your car insurance down to a more affordable cost. Make sure to shop around and use an insurance comparison website.

*This is a collaborative post*

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