Top tips for cheaper car insurance
Vehicle Security
Fit an alarm and immobiliser, such as a Thatcham 1 or 2. If your car is a high insurance group, has a high market value, is modified or is likely to appeal to thieves, consider fitting a tracker. It may cost close to a grand but you'll recoup it over a couple of year's car insurance premiums.
Keep it in a garage
Keeping your car under lock and key, particularly at night, removes it from the prying eyes of thieves and makes it harder to steal and ransack. If you don't have a garage, park on a driveway or private car park if possible, as this reduces the risk of vandalism, theft and accidental damage.
Limit your mileage
As far as insurance companies are concerned, the less time you spend on the road the better as this lowers your risk of being involved in an accident. If you only use your car at certain times of the year, or only at weekends, make sure they know about it. If you don't need to use your car for commuting, then you could save money - driving at peak travel periods adds an extra element of risk and bumps up your premiums.
Drive safely and within the speed limit
Always comply with the rules of the road and keep your wits about you. Car insurance companies typically reward you with a discount if you have accrued a no claims bonus; likewise, avoid motoring convictions such as penalty points for speeding as these tend to hike up the cost of your insurance.
Pass plus
For new drivers, obtaining a Pass Plus certificate can help to reduce the cost of car insurance by way of special discounts. Lots of insurance companies participate in the Pass Plus scheme and they are happy to reward new drivers who are able to demonstrate a commitment to driving safely.
Increase your voluntary excess
Providing you can afford to cover the higher excess should you need to, increasing your voluntary excess will reduce the cost of your annual premium.
Minimise optional extras
Only add extra benefits on to your policy if you really need them. Protecting your no claims discount or selecting a courtesy car or legal expenses cover will typically increase the cost of your insurance.
Pay yearly not monthly
If you are able to, pay for your car insurance up front rather than spread over monthly instalments. The majority of car insurance companies charge interest on monthly payments, and this can be as high as 29% APR.
Don't modify your car
Modifying your car will increase your level of risk and in some cases invalidate your insurance policy. Check all modifications with your insurance company - some mods will hurt your premium more than others.
