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Fri, 07/01/2022
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How Can I Get Cheaper Car Insurance?

Everyone wants to get the best deal possible on their car insurance while still feeling that all of their requirements are met. We have previously looked at the factors that affect how your car insurance premium is calculated, but in this article, we explore some of the ways that you can reduce your premium and still have complete peace of mind on the roads.

 

1. Consider Payment Options

Where you can, paying for your policy in one go tends to be cheaper than paying in instalments.

You can choose to pay monthly or annually for your insurance. Paying monthly can help you spread out the cost, but by paying monthly you will most likely be charged interest.

If you do need to pay monthly, be sure to compare insurers’ monthly premiums rather than annual. You should also consider the interest rates, APR, cost of credit and the total cost including interest to give you a fair basis of comparison.

  

2. Don’t Just Auto-renew

It can be easier to let your policy automatically continue, but to make sure you’re getting good value for money, it’s a good idea to check prices elsewhere and shop around before making a decision.

For more information, take a look at our article discussing whether you should consider auto-renewing your policy.

 

3. Be Accurate With Your Mileage

Don't assume that the lower your mileage, the lower your prices will be. It is important that you do not under- or over-estimate your mileage. If you check the clock and get the real figure, you can be fairly sure that you have given an accurate reading.

 

4. Look at How You Use Your Car

You must make sure that your policy reflects the way you use your car, meaning that if you work from home full-time or only take short trips into town, you don’t need a policy that covers commuting.

It’s worth double-checking that you are opting for a level of cover that actually suits your needs.

 

5. Consider Multi-Car Insurance

If your household has more than one car, many insurers offer savings for insuring all together through multi-car insurance. This is likely to work out cheaper than separately covering multiple vehicles with the same company.

 

6. Use a Named Driver

If you’re considered a high-risk driver, putting a lower risk driver on your policy as a named driver may bring your overall premium down. An example would be a driver under 25 benefitting from having an older, more experienced driver on their policy, such as a parent or other family member.

However, it’s illegal to put someone down as the main driver if this isn’t the case. This practice is known as ‘fronting’ and can invalidate your policy.

 

7. Watch Out For Extras

Policy extras can be valuable to each driver, but you don’t want to pay extra for what you don’t need.

Some extras will be worth paying for if they are important to you, but you should think carefully about what you do and don’t need. Remember to shop around for extras as well - especially if they come at no additional cost.

A great example of this is if you choose Be Wiser, you can enjoy free policy benefits including RAC roadside assistance breakdown cover, misfuelling cover and 24/7 claims assistance.

 

8. Avoid Car Modifications

It isn’t always obvious which modifications that can affect your insurance. Even a small modification to your car, like new alloys, can cause your premiums to rise.

It’s always best to consult your insurer if you do want to alter your car in any way to see if this will increase the price of your premium.

 

9. Consider Your Voluntary Excess

The amount on top of the compulsory excess that you choose to pay towards any claims when you take out the policy is called your voluntary excess. And a higher voluntary excess could mean a lower policy cost.

If you consider yourself a sensible driver who isn’t likely to be involved in an accident, you might decide to set your excess higher. So when looking for an insurance quote, it’s a good idea to try changing the voluntary excess to see how it affects your quoted premium. 

Remember that your excess is what you'd have to pay out if you made a claim, so only set your voluntary excess to what you're comfortable with.  

 

10. Consider the Car You Drive

The type of car you drive can have an impact on your insurance premium. This is down to a few factors, such as how much your car is worth, the engine size and the make and model. As a general rule, bigger and more powerful cars tend to fall into higher insurance groups, so bear this in mind when you purchase your vehicle.

 

11. Telematics Insurance

If you are a young or inexperienced driver, a telematics or black box policy can make your car insurance more affordable.

GPS is used to track your driving and if you comply with the criteria laid out by your insurer, you will likely be rewarded with a lower premium. This policy type is great for young drivers or drivers with convictions.

This article on how to reduce your car insurance premium as a young driver has further useful advice.

 

12. Increase the Security of Your Car

The harder it is to steal your car, the less of a risk it is, meaning it will likely be cheaper to insure. Most cars made after 1997 have an engine immobiliser and alarm fitted, but increasing the security of your car above the standard manufacturer level can also be impactful on the price you pay for insurance.

 

13. Consider an Insurance Broker

By using an insurance broker such as Be Wiser, you will notice that you are offered products from more than one insurer, to help ensure that you can be found the best deal on your car insurance.

 

No matter your circumstances, it is essential that you have the right insurance so that you can have peace of mind when on the roads.

Be Wiser is a great place to start to help you find the right car insurance cover for your needs, so get a quote today.