Top tips for saving money
Insuring your car is an absolute necessity, and unfortunately for many, it can seem a rather expensive necessity.
So if you want to get out on the road, but don’t want to pay through the nose to do so, read this helpful guide and we’ll go through some of the best ways to help you find a cheap car insurance quote.
In This Guide:
- Choice of vehicle
- Type of policy and cover
- Increasing excess
- Paying annually instead of monthly
- Compare insurance quotes online
Choice of vehicle
First things first, when it comes to choosing your car, you should pay attention to which of the 50 insurance groups it falls into as this will have a strong bearing on the cost of your policy.
As a general rule, cars with smaller engines and more security features will be in one of the lower categories and will therefore cost less to insure.
Second, you should limit the amount you drive in your car if you’re really set on severing your premiums, since (rather straightforwardly) the more you drive, the higher the probability there is of you being involved in an accident.
Of course, this is not always possible; sometimes high mileage is unavoidable. If this is the case, there’s no need to worry, there are plenty of other ways to cut costs and get cheap insurance quotes.
Type of policy and cover
The price you pay for your insurance will of course be affected by the level of cover you want, but also by the kind of policy you’re after, for example choosing a policy with a black box is likely to reduce the cost of your premiums.
There are three levels of cover available: third party only, third party, fire and theft, and fully comprehensive. All scaling up in terms of cover and price (generally speaking). While less cover tends to be cheaper, it is always worth working out where your priorities lie, as by spending a little bit more you will often find that you actually get a lot more for your money, relatively speaking.
Regardless of the level of cover you’re after, you can still affect the price you pay by choosing to install a black box, or by becoming a named driver on someone else’s policy.
You pay for insuring your car in two ways: regular premiums, and voluntary excess. The excess is what you pay yourself in the event of a claim, and if you opt to pay a higher excess then, generally speaking, your premiums will go down to the point where your policy ends up cheaper over all.
Paying annually instead of monthly
Choosing to pay for your premiums monthly by direct debit can make life easier, breaking the cost up into manageable chunks. However, while this is possibly the most popular means of paying for insurance, many people are actually spending more than they could due to the interest insurers tend to charge people paying monthly.
If you can afford to pay off your premiums annually in one go, you’ll find the savings more than adequate.
Compare insurance quotes online
No matter what kind of policy you need, or what car you want to insure, or how you want to pay for you premiums, you can always save money by shopping around and comparing car insurance quotes online.
Use our comparison service to find the cheapest and best quotes available and you can be certain that you will save money on your policy.