Car insurance premiums have risen significantly recently. Indeed, research suggests that the average cost of insuring the 10 most popular car models in the UK has risen by £100 over the last year. In this context, it’s crucial that you find ways to save money on your car insurance – especially if your budget has been stretched by the cost-of-living crisis. Below, we explore five tried and trusted ways to save money on car insurance.
When you purchase car insurance, you’ll usually have the option to pay annually or pay monthly for the year. Out of the two options, it’s best to pay annually. When you go for monthly payments, you’ll be paying interest on top of your car insurance payments. Therefore, if you want to save money over the course of the year, you should pay annually.
By improving the security of your vehicle, you can access cheaper premiums. By installing devices such as alarms, immobilisers, and wheel locks you can make it harder for thieves to steal your car. In turn, this should lower the cost of your car insurance. However, make sure you get a quote before you enhance your car’s security – you don’t want to spend more on the changes than the money you’d get back through a cheaper premium.
Watch out for unnecessary extras
You should also consider the extras when buying car insurance. Begin by thinking about what you use your car for: do your circumstances mean that you might need windscreen cover, for instance? Only purchase the extras you need with your insurance and make sure you avoid any unnecessary costs.
Shop around and haggle
When you’re looking for car insurance, it’s important that you explore the market to find the best deal. You can achieve this by shopping around: by amassing plenty of quotes, you should have a wealth of options to find the right deal. Once you’ve identified the best insurance for you, it’s worth haggling to try and bring the price down to an even better level.
Consider how you use your car
Finally, you should make sure the policy you pick reflects the way you use your car. For instance, if you simply use your car for city driving and going to the shops, you don’t need commuting coverage. When you’re looking through the various deals out there, you should ensure that they fit with your habits.
Saving money on car insurance can help you navigate this difficult financial year. And by following the guide above, you should be all set to find the best car insurance for your needs.