Insurance companies take lots of different factors into consideration when calculating car insurance prices. Here are a few tips which could help you cut the cost of your insurance:
1. Avoid auto renewal – shopping around is the easiest way to save money. If you’ve received your renewal, we guarantee to beat your quote, and if we don’t, we’ll pay the difference plus £20. Find out more. (Must be like-for-like policy, T&Cs apply).
2. Time it right – leaving it too late to get your insurance can mean you pay more than if you get it earlier. Our data shows you’ll usually see the cheapest prices around 3 weeks before you need the policy to start. Don’t worry if you’ve missed it though as there are still savings out there to be had.
3. Add an experienced driver – adding a driver to your policy can help bring costs down, as it means you’ll share the time spent driving. But remember, you must always name the person who drives the most as the main driver. Otherwise you’ll be doing what’s known as “Fronting”, which is illegal.
4. Black box insurance – this is usually a good option for younger or less experienced drivers. Insurers track your driving using an app on your phone or a small device fitted to your car and offer prices based on your driving habits.
5. Increase your voluntary excess – if you’re willing to pay a higher excess this can bring down your price. Remember you’ll need to pay the excess if you make a claim, so don’t over-stretch yourself.
6. Improve security – fitting your car with increased security such as an alarm or immobiliser makes your car harder to steal and also could reduce the cost of your insurance. Simple things like considering where you keep your car parked at night can also help.
7. No-claims bonus (NCB) – if you stay claim-free for a year you can build up an NCB and start to benefit from lower prices. Each year without a claim adds another year and increases the discount insurers will offer you.
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