One of the biggest expenses attached to motoring is car insurance. This is, of course, a legal requirement, but there are always ways that you can reduce the amount that you pay which could help you to save a fortune in the long run. These are highly worth doing and particularly if you are struggling financially or paying a high premium at the moment. Read on for a few tips:
First, if you are in the market for an automobile then you could reduce the amount you pay by selecting the right type of vehicle. A small, not particularly powerful and affordable model from a used car dealership like FOW will be much cheaper to insure than a new, high-value, powerful vehicle and this is also a way to reduce other running costs too.
Black box, or telematics, systems are becoming increasingly common and it is easy to see why. These systems track how and when you drive to determine your risk and then tailor your cost based on this. Provided that you are a sensible and safe driver, this could be an effective way to lower your costs.
In today’s day and age, people need multiple types of insurance with car and homeowners insurance being the main types. You could save yourself money each month by opting for multi-cover where you get coverage for two or more types of insurance from one provider. You could also get a reduction by having more than one vehicle insured with the same company.
One of the best ways to reduce the amount that you pay is to shop around. Premiums often rise at the end of the policy even if you haven’t made a claim, but by shopping around and researching you could find that you could make big savings by switching provider.
Increase Your Excess
If you are in a position to do so, increasing your excess is a fast and easy way to reduce your premium. Just be sure that you will be able to cover the cost of a higher excess if you do get into an accident.
It is likely that your insurer will try to include a range of extras with your policy and many of these will be costly and unnecessary. Take off extras like courtesy car provision and windscreen cover to make big savings in the long run.
Car insurance can be a huge expense, but the above are all effective ways to reduce the amount that you pay and you could save a huge amount of money long term. Although you will want to reduce costs, you also need to make sure that you are getting high-quality cover and from a respected provider too.