How to cut the cost of car insurance

Although insuring your vehicle is a necessary expense for anyone venturing out onto the roads in the UK, there are some simple tips and tricks than can make you considerable savings on your premiums each year. Investing some time and effort when it comes to renewing your car insurance can sometimes save you up to hundreds of pounds. In the current financial climate, we all need every bit of help we can to cut our costs without reducing quality, so read on for some great tips for cutting the cost of your car insurance.

Compare car insurance quotes

The first golden rule when it comes to looking for any kind of insurance cover is shop around. Most people would not consider purchasing any expensive tangible good without checking where to get the best price; yet when it comes to insurance, many people just keep renewing the same policy year after year without investigating whether they could get the same level of cover cheaper from another provider.

Nowadays it is relatively quick and painless to compare prices among a wide range of different insurers as there is a wealth of internet price comparison sites around that let you enter your details only once and they'll do the running around for you.

Compare insurance polices

Once you have checked as many price comparison sites as you can and you think you have found the cheapest quote, it is sometimes worth looking a little more closely at some of the big insurance companies' policies. Now and again you will find price match deals on offer, whereby an insurance company will offer cashback on top of matching your lowest quote, so you could end up even better off. Alternatively, you might want to consider applying to your existing insurer as a new customer as some insurers hold back their very best deals for new customers.

Reduce your premiums

When looking for car insurance you'll always be asked where your vehicle is kept overnight. The reason for this is that insurers consider a locked garage or private driveway to be safer than a public road and the premiums you pay will reflect this. If possible, minimise the risk to your vehicle overnight and you will simultaneously minimise your payments. Similarly, installing tracking systems and immobilisers will also reduce your premiums as insurers then consider the vehicle less vulnerable, and therefore less likely to lead to a claim.

If you are a young driver you might find that you are penalised for your relative inexperience and faced with much higher insurance costs than an older driver in comparable circumstances. But don't despair; there are still ways to reduce your costs. For example, you might want to consider adding another named driver to your policy who is older and has been driving for longer than you. If possible, a parent is the ideal choice. This person does not actually ever have to get behind the wheel of your car, but just by being named on your policy you should find the cost you face could be as much as 10-15 per cent lower than if you are the only driver listed.

So whatever your age and whatever type of vehicle you drive there are a number of clever methods of reducing the premiums you pay for your car insurance. Always compare as many insurance providers as possible and shop around for the very best deal available.