 Follow these tips and let your car insurance premiums fall.
Buy car insurance online
Many companies provide discounts when you buy online.
Shop around
Without checking the market don’t accept renewal quotes.
Don’t modify your car
Modifying your car will influence your premium. Manufacturers work closely with insurers so that a particular model of car can be insured to a standard. If you modify the car, the factors on which your premium has been based will have changed and the number of insurers who will insure you will fall dramatically.
Drive carefully
Cautious drivers who build up a history of no claims will obtain lower premiums, so it pays not to treat the roads as a race track!
Security
Fit an alarm or an immobilizer or apply a steering lock. If you have a detachable stereo be sure that you remove it from the car.
Voluntary excess
You can lower your premium, if you agree to accept a voluntary excess (the amount you agree to pay in the event of an accident).
Don’t lie
You enter into a contract with an insurer in “utmost good faith”. If you provide incorrect information, an insurer can refuse payment if you make a claim. During the policy period, you must tell the insurer any information that may alter the premium you pay, for instance if you move house.
You must inform the insurer if you are caught speeding and points are applied to your license. The insurer must be reported about any modifications to the vehicle. Failure to inform your insurer of any updated information may result in your policy being deemed invalid.
Don’t automatically buy comprehensive insurance
If your car has a low value you can save a third off your premium by insuring your car for Third Party Fire and Theft.
Don’t buy a high performance car if you are under 30
If you are under 30 and drive a sports car then expect a high premium, particularly if you are male. Insurers will consider plenty of factors including your age and the group rating system of the vehicle to be insured.
Most family cars fall into groups 6 to 12, unless they have high-powered engines. The different groups available vary from group 1 (the lowest) to group 20 (the highest).
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