Your motor insurance premium could be reduced by following a few simple tips:
Buy The Right Car
Every vehicle has an insurance rating from 1 to 50. The lower the rating the lower the premium. In general terms, basic cars with small engines have lower ratings than premium models. Defining factors include engine power, the cost of parts and security. Every trim in a range – e.g. 1.0i Zetec - rather than every model - e.g. Ford Fiesta – has its own rating.
Earn No Claims Bonus
Insurers reduce premiums for every year of trouble free motoring (up to a maximum). Minimise risk by driving carefully, parking in safe areas, and storing valuables out of sight.
Add Named Driver
Adding a named driver to the policy can have a positive effect. Choose a responsible person who has experience and a clean licence. Adding a second driver can help further.
The policy states that the car is covered for “x” miles per-annum. If it covers 20,000 miles the risk is higher than it it covers 5,000. This is reflected in the premium, so ensure the stated figure is not excessive.
Sit Pass Plus Course
The Pass Plus Course includes further on road training after the driver has passed the theory and practical tests. Completion might significantly reduce the insurance premium.
Security features such as a tracker have a positive impact as they reduce the risk of theft.
Insurance policies incorporates a financial excess which is the amount the motorist contributes toward a claim. Increasing the excess should reduce the upfront premium.
Shopping around saves money. Get an overview of the market via price comparison sites.
Furthermore, it can be expensive to accept the existing insurance provider's renewal price. It is likely to be higher than its new policy/new customer premium. The hope is that the driver will accept a high renewal price to avoid the hassle of getting a new quote.
Get Multi-Car Policy
A multi-car policy covers two or more vehicles registered at the same address. Savings can be considerable. Each insured party retains a separate no claims bonus in case of accident.
Even simple modifications such as exterior stickers can increase the premium significantly. All changes must be declared to avoid invalidating the policy.