Car insurance remains sky-high for drivers across the UK. Recent figures from comparison site Compare the Market show that premiums for those under the age of 25 now stand at £2,009 on average. However, drivers of all ages have experienced increases in the price of cover, with drivers over 65 suffering the largest proportional rise in premium costs.
There are some things you can do to make sure that you’re paying the best-possible price for cover, however, and we’re going to go through some of the tips and tricks to test out if you’re in the market for car insurance.
Shop around
One of the greatest tools at the fingertips of motorists is being able to shop around for car insurance from the comfort of your own home. There are all manner of comparison sites to use and they’ll all give you prices for cover from a variety of different providers.
A lot of these services allow you to tweak and change your policy details – such as your intended mileage – to see how it affects the amount you’ll pay.
Don’t allow your insurance to auto-renew
Many car insurance policies have an auto-renew facility. With this, your premium will auto-renew when it comes to the end of your policy. While this may sound handy, it often means that you’ll be paying more for cover because you’ve allowed it to roll over automatically.
Therefore, if your policy is coming to an end, make sure you shop around beforehand to make sure you’re getting the best deal. Of course, if your auto-renew price is the cheapest then you can let it roll over, but on most occasions, you’ll pay lower prices if you check out other policies first.
See if adding a responsible driver lowers your premium
A lot of insurance cover is based on risk and having an older, more experienced motorist on your policy as a named driver can help reduce costs. It can also go the other way – increasing your premiums – so make sure you test it out via a comparison site first.
Remember, that you still need to be the main driver. If it’s found that the ‘named driver’ on your policy is actually using your car most of all, then you could find your policy being cancelled. This action is known as ‘fronting’ and can also see insurers not paying out in the event of an accident.
Pay annually if you can
Car insurance represents a big financial undertaking – particularly for younger drivers – and insurers do offer better prices for those motorists who are able to pay in full. Though you can spread the cost of your cover via monthly payments, you’ll spend less overall if you’re able to pay for it in one go.
Of course, if you’re not able to pay up front – and if it could add extra financial strain – then go for the monthly payment option.
Make sure your mileage is accurate
Insurers use your estimated mileage to determine how much you’ll be driving. After all, the more miles you drive, the greater chance there is that an accident could occur. So make sure you’re accurately putting down your mileage. Consider how far you drive on a day-to-day basis and factor in any longer trips that you might have planned.
Don’t be tempted to go low with your mileage, however, as if an insurer found that you were travelling a lot further than you’d stated on your policy then you could find your cover being voided.
If you’re insuring more than one car, take a look at a multi-car policy
It’s common these days for one household to have multiple vehicles and, if this is the case, you might find it to be more cost-effective to get a multi-car policy. These types of insurance offer a discount for covering more than one vehicle so it might prove a bit cheaper than covering each car individually.
However, it can go the other way too and make things more expensive, so make sure you get a number of quotes together before signing up.