Owning a car is convenient and makes life easier in many ways. However, they are also expensive to purchase, run, and maintain.
The cost of car insurance will depend on your circumstances, and unfortunately, it can be expensive for some individuals. If you would like to save money on your car insurance, here are five ways to do so.
Adding older, more experienced motorists as ‘named drivers’ on your policy can help you save money on your car insurance, as long as the driver being added is not under 25 and doesn’t have any driving offences on their record. The reason experienced, older drivers reduce the price of the policy is because it will be assumed that this driver will drive the vehicle on some occasions, which reduces the overall level of risk.
Comparing car insurance increases your chance of finding very cheap car insurance, which means it really is worth the effort. And fortunately it doesn’t actually take all that much effort at all if you use a car insurance comparison site like Quotezone.co.uk.
One factor that affects the price of your car insurance is how secure your vehicle is. If your vehicle has a security device fitted to it, your policy won’t be as expensive. To protect your vehicle against theft and damage, you should close the windows, lock the doors, and keep valuables out of sight. This will protect you against rising premiums when you renew your policy if you do experience a break-in.
Most car insurance policies give you the option to pay compulsory excess or voluntary excess. The price of the compulsory excess is made by the insurer, whereas the cost of voluntary excess can be made by the driver. If you increase your value of voluntary excess, your insurance premium will decrease. However, you must be able to afford to pay your excess in the result of a claim.
Paying your car insurance annually isn’t an option that suits everyone but do it if your finances allow. When you pay for your policy in one lump sum, it usually works out cheaper than paying via a monthly direct debit. This is because many insurers will add interest to direct debit payments and build this into the amount you pay each month.
Being insured on a vehicle is a legal requirement for every car owner and it can be an expensive part of car ownership. However, by following the above steps, you will be able to save money on your car insurance and enjoy the benefits of having a vehicle at a lower cost.