Car insurance is definitely not a small commitment. However, it doesn’t have to dent your pocket. I this post, we highlight some of the best ways to get cheap insurance. Read on to find out more.
It is illegal to drive without car insurance in any country or state, but how much does it cost? How much one pays for car insurance usually depends on a number of factors, including the driver’s age, where one live, the type of vehicle, past driving history, and marital status and so on.
Several insurance companies track their prices within the car insurance pricing and often publish trends, especially in the form of indices. However, deferring dates of calculation and methods used in calculations can mean that the average figures do not always align. Even though this range of figures usually outlines what your “average” person is likely to pay, the truth is that there is nothing like an ‘average’ car insurance customer in real life. It is personally priced, which means that depending on your personal circumstances, you can find that you pay substantially less or a lot more than the figures indicated below:
|Confused.com||Auto insurance price index||Average £762|
|AA||British Insurance Premium Index||Averagely £610|
|Which?||General Public Customer survey||Average £432|
|Compare the market||Premium Drivers index||Average £736|
How to get the cheap and right car insurance
There are so many car insurance quotes, but you should not just accept the first one you get from a car insurer. There are many legal tactics to use to cut the insurance cost. Here are the top 7 ways to do so.
1. Pay annually
Car insurance companies usually give their customers the option to pay for they cover in monthly installments or as a lump sum. Monthly installements will always seem to be the better option as it is a great way of spreading the insurance cost. However, it is usually more expensive as the insurer is likely to charge you extra hundreds over the year. Paying annually in a lump sum is usually cheaper because there are no interests charged. Besides, your insurer is likely to give you a discount. When you pay in monthly installments, it’s like you are taking a loan and your insurer will definitely charge interests for that.
2. Be a better driver
Basically, insurers will calculate your premium based majorly on the experiences they have had with drivers who seem statistically like to you, especially in regards to locality, age, and so on. For example, motorists in Northern Ireland will pay higher car insurance premiums than fellow UK motorists, according to Eamonn Turley from InsurancequotesNI. But still, there are a lot of ways to demonstrate to your insurer that you are a better driver, and this can help hedge things significantly in your favor. You can do so by getting certificates like Pass Plus for the younger drivers. Such a certificate will distinguish you might earn a discount. Furthermore, maintaining a clean driving record and no claims bonus will help lower your premium.
3. Avoid any unnecessary add-ons
Of course, car insurance add-ons are not actually a waste of money but you should think carefully about what you need and what you do not.
4. Named drivers
Are you a high-risk driver? F yes, then the best way to reduce your premium is to put a lower-risk driver on the insurance policy. For instance, if you are below 25, you can avoid facing steep premium by naming a more experienced and older driver on the insurance policy.
5. Consider multi-car insurance
In case your family own more than one car, you may consider insuring them all together with one insurer. Most insurers will offer good savings if you insure all the cars together with them. Instead of insuring each car with different insurers, insure them with one company and you will likely pay much less.
6. Get the most out of discounts
Before buying a policy, do research and get to know what discounts are offered and then find a way to get the most out of any possible discount. For example, many insurers will offer passive restraint discount (know more) and other forms of discounts. Whenever you ask an insurer to provide you with a car insurance quote, they will first run a search on various things about you including your credit score to come up with a clear statistics about you. All these will affect how much you pay for insurance because insures use the information to award or deny applicable discounts and to calculate premiums.
7. Use a broker
You may not be able to know how to cut your insurance cost like a pro because insurance is not your field. In that case, using a broker, like Money Expert, can be very helpful. Use a reputable insurance broker company to help you find the cheapest car insurance to also help you negotiate the cover with your insurer.