Car insurance is often toward the top of the list of any family
budget. The amount of money it costs to drive has reached epic proportions.
Naturally, you don’t want to spend all that money on something you might never
use yet always have to have.
We’re going to give you five clever tips for lowering your car
insurance bill.
1.
Don’t Drive a New
Car
Rather than buying a new car, buy a used one instead. Insurers know
that new cars are infinitely more valuable and much bigger targets for thieves
if they’re bought new. Expect big insurance bills if you go down this route.
On the other hand, you can save a lot of money if you buy a used car.
Scrape some money together and purchase a used car, even if it’s close to being
new. This will reduce your monthly bill by hundreds.
2.
Don’t Put
Everyone on the Policy
It’s tempting to put the whole family on the policy, but in the eyes of
an insurance company this is a risk. They’re not just insuring one driver
they’re insuring multiple drivers, so it’s only natural to see the price go up.
If you do have some occasional drivers in your home, this still isn’t a
reason to put them on the policy. Instead, you should take out temporary insurance on the rare
occasions they do need to drive. This can be done without breaking the bank.
3.
Secure Your Car
Theft is rampant everywhere, including in the UK. Use a company like themoneyhub.co.uk for an injection
of cash and invest in securing your car. This includes the best locks you can
buy, car alarms, and steering wheel locks. You should also have a GPS tracking
device that allows you to track your car after it’s stolen.
The biggest money saver is to store the car in a secure area, such as a garage, but this isn’t always practical.
4.
Accept a Higher
Excess
If you accept more than the voluntary excess, this means you agree to
pay more towards the cost of repair in the event of an accident. This sounds
bad, but if you’re not at fault you’ll get this money back from the other
driver’s insurer anyway.
Good drivers will find a higher excess goes a long way to reducing their premiums, whilst at the same time being of no risk.
5.
Shop Around
Always shop around for the best deals. You should never settle on the
first offer. With all the insurance comparison sites available to you, it’s
easier than ever before to type in your details and get a list of quotes in a
matter of seconds.
The Truth
The reason why insurers can charge so much is because people don’t shop
around. They’re lazy and so they renew with the same provider each year, even
if the prices go up.
Get an advantage and have no loyalty to any company. Switch as soon as
you see a better deal. That’s the best way to save money on your insurance
premiums.
