Top tips to reduce your car insurance costs

car with keys

Car insurance is one of the many aspects that make driving a car particularly expensive. With various confusing car insurance policies, today’s drivers can easily be mislead about how to get the cheapest solution. Here, we explain a little more about some of the handy tips that can help you reduce your car insurance costs.

Shop around

One of the chief ways to ensure you are getting the lowest possible price for your insurance is to shop around for the right policy for you and your vehicle. Some companies will provide policies at a far cheaper rate than others, so there are serious savings to be made. Make sure, however, that the quotes you shop around for are like-for-like, as some of the cheaper ones may be cheaper for a reason; be this a lower level of cover or an extortionately high excess.

Protect your no-claims bonus

This is a valuable piece of advice for drivers and vehicle owners everywhere, and possibly the chief, most effective way of keeping your car insurance down. By protecting your no-claims bonus through an untarnished record of safe, accident-free driving, your insurance company will lower your insurance as time passes. The premium on your policy may increase slightly in the process, but this soon isn’t noticeable once you receive the huge no-claims bonuses available.

Don’t have everyone on the insurance

Contrary to popular opinion, it is not always beneficial to add everyone on to your vehicle’s insurance. Vehicle insurance should cover only those who regularly drive the vehicle in question, and those who drive it occasionally should be added on as and when required. However it is worth noting that often for young drivers, having parents or guardians with good driving records named on the insurance policy can lower costs significantly.

Increase your voluntary excess

By agreeing to contribute more towards the cost of any repairs that are required following an accident involving your vehicle, your insurance company will be able to recover the large excess should you be in an accident that is not your fault. Do not, however, allow the excess to rise too high, particularly if your car is not of a high value, as these costs can start to outweigh their potential benefits.

Ensure that your car is safe and secure

This is a no-brainer – by ensuring that your vehicle has an approved alarm, an immobiliser fitted and even a tracking device, you can expect to receive discounts of around 5% off your insurance costs. A worthy investment for older vehicles, and coming as standard on most new vehicles, these features should be declared to insurance companies to allow you to benefit from the prospective discount.

Here at The Insurance Store, we are the proud providers of tailored insurance packages for all our customers. We are committed to making our customers’ vehicle ownership as cheap as possible by helping them get the most from their car insurance policy. For more information on our services, contact our friendly team today.