Les Roberts: No-one likes paying for their car insurance, but it’s a necessary evil, so here are 5 ways to ensure you get the right level of cover for the lowest price…
Tip 1: Don’t just accept your renewal quote
Insurers don’t reward loyalty – they tend to offer their best prices for new customers while upping premiums for existing ones at renewal.
So don’t just stick with the same insurer each year – make yourself a new customer by shopping around and moving to a new provider.
Tip 2: Get the mileage right
When you’re asked how many miles you do a year, don’t just guess and say 12,000. Many of us actually drive fewer miles than we think, and the less you drive, the lower your premium will be.
That said, always be accurate – don’t underestimate your mileage or you could invalidate the policy.
Tip 3: Pay upfront
If you can, pay your premium in full rather than spreading the cost by making monthly payments. You’ll be charged interest if you pay monthly so it will end up costing you more.
If you can’t afford to pay it all in one go, rather than opting for the monthly payment option consider taking out a 0% purchase credit card instead. You then benefit from spreading the cost but without paying any interest.
Tip 4: Add a named driver
It might sound strange but adding another driver to your insurance policy, such as a partner or parent, can actually bring the cost down. This is because, if two people can drive the car, insurers assume the driving will be split, which spreads the risk.
Tip 5: Be rewarded for better driving
If you have a relatively low annual mileage – 6000 a year or less, say – you might benefit from a so-called ‘telematics’ or black box policy.
Your driving is monitored by satellite – and if you’re judged to be a low risk proposition, your premium will reflect it.
Some insurers charge less if you pass an advanced driving course – and if you’re a newly qualified driver, regardless of age, it's worth considering taking the Driving Standards Agency (DSA) Pass Plus course.
Car insurance costs hundreds and even thousands of pounds a year. It’s well worth thinking about money-saving tactics – you could save yourself a small fortune.