There’s no denying it, car insurance has gone up in price and having a car these days is costly. With road tax, MOT, petrol or diesel and car insurance, you are looking at thousands of pounds a year just to keep a small car on the road, even more if you require a larger one for you and the family.
The most expensive element of these things is usually the insurance with the average cost ranging from £500 to £1000 a year. So any way to bring the price down is a valued tip. Here is some advice on bringing the annual premium of your family car insurance down as much as possible while still having a valid policy.
The best in tip in finding the cheapest car insurance is shopping around for your policy. Your insurance company will very rarely offer the best possible price to their existing customers when it is time for renewal. Instead, they reserve their best prices for new customers.
Use price comparison sites to get car insurance quotes and you may find that switching insurers or re-registering as a new customer can give you the best price. Also, go directly to the insurance companies not on comparison sites for their prices. Just be sure to compare a like for like insurance policy with a voluntary excess at the same price and the same additional extras included as an add-on.
Increase your excess
If you choose to have a higher voluntary excess on your car insurance then it can reduce the premium. As a general rule, it is usually the higher your excess then the lower your premium. Experiment with a price comparison tool and see how much cheaper it is to increase your excess.
Remember though, it is important to ensure your excess is an affordable amount. If there is an incident in which you need to make a claim from your own insurance company, you will need to pay the total excess. A good tip to know however is that if the accident is non-fault and you are claiming off the third parties insurance company, you will not be required to pay any excess.
Re-think the distance you actually drive
If you apply a lower annual mileage cap to your insurance policy, it can bring the overall price down. Think about how far you really drive in your vehicle each year, there is no need to pay for driving more miles than you actually do.
If your family have two cars, remember that some of what you drive will be split. One vehicle may be used more and be more likely to do more miles in the year, so make sure your policies reflect this. If you can, avoid driving unnecessary trips to ensure the annual mileage is as low as possible. Take a walk to the shops instead of taking the car if you live within walking distance.
Improve your security
Installing an immobiliser, alarm or some sort of tracking device can lower the cost of your insurance premiums. Insurance companies see these cars as less of a risk because they have additional security installed and would be more difficult to steal or easier to recover in the event of a theft.
Similarly, if you have the ability to, park your car in a garage and make sure you state this on your insurance quote. This means that your car is marked as being kept in a safe place out of the way. The second safest place to keep your car is on a private driveway and the third is on a residential street. If you commute to work and your car is kept in a secured car park, make sure this is stated on the quote also. It also makes your car at less of a risk while you are at work and may also bring the cost down.
Most importantly, be sure to be honest on your car insurance policy. If the worst possible scenario occurred and you had to make a claim, the last thing you want is to not be covered and have to pay your own costs to repair or replace your car. Even the smallest details matter like job title, additional drivers and modifications.