For all car-owners, taking out insurance can often be an unexpected, expensive addition to your monthly outgoings. A common mistake is letting your insurance renew automatically, without shopping around for better deals as many insurers increase their prices annually. There are ways you can ensure you get the best deal when it comes to insuring your car.
Here, Quick Car Finance shares 5 ways to get a better deal when it comes to car insurance:
▪ No claims, no price increase – A great way to keep your car insurance low is by building up a no claims bonus – this is where you don’t make any claims on your insurance, avoiding accidents and collisions. The longer you have no claims, the cheaper your insurance policy should be.
▪ Engine size – Cars will smaller engines tend to be cheaper to insure. This is down to the logic that bigger engines encourage faster driving which increases your chances of crashing or bumping your vehicle. If your car has an unnecessarily large engine for the journeys you make, it may be worth considering trading it in for a vehicle with a smaller one.
▪ Mileage management – The less you drive your car, the less risk you are to insurers. Therefore, they are more likely to offer you a better deal when it comes to your car insurance. Try using alternative methods of transport, only using your car for long, necessary journeys.
▪ Consider insurance type – Rather than your bog-standard insurance, it can sometimes be cheaper to invest in third party or fire and theft policy. It’s important to really shop around and do your research before committing to another year of overpriced insurance.
▪ Annual payment – Paying in one large lump sum, if possible, is recommended when it comes to car insurance. If your payment is broken down monthly, interest can increase the overall sum you end up paying.