Ladies, if you feeling like buying yourself a Car but are worried by the price of insurance, here are eight ways to keep your premiums down.
Consider the insurance group
The biggest consideration in how much your insurance premium will cost is the car itself – and more specifically the insurance group it falls into. So don’t just buy off the price of the car it self – check the insurance group. Speedy cars or those more likely to be stolen will fall into higher groups, and young drivers, especially, will struggle to be able to afford the premiums on such cars.
Check out the competition
You should never accept your renewal quote without checking out the competition. Comparison sites are a quick and easy way of getting a multitude of quotes, which you can then compare yourself against the independents such as Aviva and Direct Line. Even if a company was expensive one year, it may not be the next – especially as you reach certain ages or lose points off your licence.
Add an older named driver
If you’re younger than 25, adding an older family member as a named driver could be a good move – especially one with lots of no-claims bonuses and a clean license.
Increase your voluntary excess
The voluntary excess is the amount of money you have to pay towards any claim you make e.g. you have to pay the first £250 of a £2000 claim. Increasing that excess to for example £500 could reduce your premium. Make sure it’s an amount you could afford though as putting the amount on expensive credit cards would soon see that saving negated.
Buying online
As companies continue to try to save the costs of call-centre wages, they might offer you a slightly cheaper if you buy online.
Build and protect your no-claims bonus
Companies no-claims driving bonuses vary but, whoever you’re with, building up a healthy no-claims bonus is a sure fire way of keeping your insurance premium down.
Pay it all at once
Paying your insurance premium in an up-front lump-sum is usually cheaper than paying it by direct debit over six months. However, if you’re putting that lump sum on a credit card that you’re not going to clear at the end of the month – check the interest rates.
Avoid Motoring Offences
There’s nothing worse than working hard to get your premium only to watch it go back up for stupidly running a red light or speeding. Apart from the initial fine, you’ll pay for it on your insurance for the next five years.
