1- Buy online
Buying online can save you time and money. Companies that spend millions of pounds on advertising or operate large call centers have to cover these costs somewhere, and they do so by adding these costs to your premium price. Although online insurance companies have overheads, they are much lower than general phone and insurance companies, which means they can offer auto insurance up to 60% cheaper than other companies.
2- Drive a cheap and less powerful car
Car insurance companies calculate their premiums based on the size of the car’s engine, the likelihood of it being stolen, and the cost of repairing it. Although smaller cars such as the Ford Fiesta and Renault 5s are more likely to be stolen than larger saloons, they are cheaper to repair or replace and therefore cheaper to insure.
3- Create a No Claims record
Car insurance companies offer discounts to safe drivers who have a good no-claims history. By creating a no-claims history, you can benefit from a reduction (up to 60%) of your premium, and this discount can be transferred from one company to another.
4. Increase the security of your car
More security means less risk for your insurance company and you can take advantage of cheaper rates by locking your car in an overnight garage or installing an immobilizer or an insurance company approved tracker.
5- Increase your voluntary surplus
By deciding to pay a higher excess also means you are less likely to make a small claim on your insurance and therefore a lower risk.
6- Get more driving qualifications
A Pass Plus qualification costs between £100-150 and includes taking lessons in different driving conditions such as at night and on the motorway. By becoming a more skilled and experienced driver, most insurance companies reward their customers by lowering their premiums. As a result, the qualification is usually paid for itself during the first year of qualification. Another option is the Advanced Driving Test, but it can take much longer to pass than Pass Plus.
7- Reduce your car usage
Obviously, the more you use your car, the more likely you are to get into an accident. As a result, people who travel hundreds of miles each week are more likely to get a higher car insurance premium.
8. Don’t act on the wrong side of the law
Insurance companies don’t like car-related convictions because they mean the driver is seen as a higher risk. Some motor vehicle convictions are worse than others, for example, a drunk driving offense means your insurance premium will be double the usual rate.
9. Reduce the number of people subject to your policy
The more people subscribe to your insurance, the more you will have to pay. So, if possible, try to have as few drivers on your policy as possible.
10- Living in the countryside
As a general rule, the farther from the city you live, the cheaper it is likely to be to insure your car. By living in the city, your car is more likely to be stolen or involved in a car accident. You can save up to 50% on your car insurance by moving from the city to a rural location.