Obtaining the annual car insurance quote is one of those ‘brace yourself’ moments for many. This is especially true if you are under the age of 25.
However, whilst premiums can feel excessive there are a number of ways you can help drive them down and make significant savings.
There are some obvious and some not-so-obvious methods which involve varying degrees of effort. But, ultimately, the more of these tips you employ, the bigger the savings.
- Shop around for the best deal
It almost feels like a cliché, but visiting price comparison sites – more than just one – and obtaining as many quotes as possible will absolutely pay off.
If you are already a policyholder and have received a renewal don’t rule this quote out. But, equally, do your research to gain a reference point.
Once you have pinpointed a deal you like on a price comparison site, go to other comparison sites and check it’s not cheaper elsewhere. Likewise, visit the insurer direct to see if the same price applies. Sometimes going to the provider direct will see you receive a higher quote – but it can sometimes be lower.
According to www.netvouchercodes.co.uk insurers sometimes also offer ‘new customer’ deals for customers who ‘shop direct’.
And the website also advises to start shopping between 20 and 26 days before your current policy expires as deals get more expensive as you close in towards the renewal deadline.
- Add another named driver
Another tip from www.netvouchercodes.co.uk is to add a named driver. If possible, opt for one who is older and more experienced than you.
If you do this insurers assume responsibilities are shared, and therefore you will spend less time driving, and this has the effect of helping to lower premiums.
However, it’s important you don’t choose a person who has a history of claims as this can bump up your premium. Get someone who has accumulated good no claims bonus.
Netvouchercodes warned you should ensure the person who will be driving the vehicle the most is listed as the main driver. If you list a more experienced driver as the main driver in a bid to lower your premium, you will be committing an illegal practice known as ‘fronting’.
- Build your no claims bonus
Another good reason to be the main driver is because, while it will cost you more money, having an insurance policy in your own name will help you build your own ‘no claims bonus’.
As the name suggests, you’ll get brownie points for making no claims. The more driving years with no claims you build up, the more valuable your bonus and the cheaper your policy will become.
This isn’t an instant insurance price dropping fix – but it’s a great tip to keep you in pocket as it will afford you the best savings in years to come.
- Install a black box
If you do want a quick fix, however, a black box or telematics device could be just the thing. Netvouchercodes advises this as a great option for first-time or newer drivers.
What’s more, if your insurance is sky high due to any motoring convictions, a black box is a cheaper way to get back on the road safely.
Completing an enhanced driving course will also boost your credentials as a driver and help lower premiums too. There are various ones on offer but the government’s Pass Plus is probably the most well-known
- Buy a car which is cheap to insure
Not one if you’ve already gone out and bought your high powered sports car, but choosing a vehicle which is cheap to insure could save you hundreds of pounds annually.
Indeed, a study by Admiral published in June revealed the top ten cheapest cars to insure for young drivers. It found the Toyota Aygo had the lowest priced premium for the average 17-year-old motorist.
Netvouchercodes.co.uk, explained the price of your cover will be partially based on what group your vehicle comes from. Group 1 vehicles, which include the Ford KA, Volkswagen Polo Match Evo or the Skoda Fabia SE for example, are some of the cheapest vehicles to insure.
Generally, lower performance cars, which cost less to repair if they are in accidents and have less expensive parts are the best.
- Take care when describing your employment
Certain jobs will increase your car insurance premiums but tweaking how you describe your occupation could make you less risky and bring the cost down slightly.
According to Netvouchercodes.co.uk, describing yourself as a cleaning contractor – for example – as opposed to a cleaner, or a writer instead of a journalist is likely to lower the cost of your insurance. However, remember if you provide false information, you may be refused a claim.
- Pay for the year not monthly
Paying for the premium in advance will be cheaper than paying monthly by direct debit. If you simply cannot afford the upfront cost, consider paying with a credit card which offers 0% interest on purchases.
Alternatively, if you are organised, put some money aside monthly in advance into a car insurance fund. That way you’ll be paying the price monthly, without losing a lump sum, but you’ll benefit from the ‘pay annually’ discount.
