Insurance. Every driver needs to hold insurance to drive legally on the road. Alas, while this can be invaluable if you get caught out, it can also cost a lot. And, regardless of whether you decide to pay monthly or in one lump annual sum, these bills can sting. Still, not all insurance policies are quite as eye-watering. Thus, we have considered several tips to help lower your car insurance as follows to help.
How to Find Cost-Effective Car Insurance
With the average car insurance policy costing around £500 per year, it’s safe to say that insurance premiums can hurt. However, they don’t have to. And, while car insurance may be expensive, there are steps you can take to help. Luckily, the following simple tips might be enough to shave a significant sum of money from your insurance plan.
Consider Your Car’s Value and History
Price and value. Both significantly influence what your insurer will charge to cover the car. For example, a car with a history of problems may have a higher price for insurance, given its tendency to break down or need repairs. Fortunately, this is easy to check with a car history check, which allows you to view the car’s past MOTs. In turn, you can see whether the vehicle has previous failures or advisories. Naturally, insurers are likely to view such vehicles as riskier investments, so they’ll up the price accordingly.
Cut Back on the Mileage
The more you drive, the higher your premiums will be. As such, if you can lower your mileage, you may see reductions in your premiums accordingly. Insurers will often consider how you use your car when setting a quote. So, driving less could have a profound impact on the price you end up paying.
Add New Drivers as Named Drivers
When you have just passed, insurance costs can be ludicrously high. However, rather than putting yourself on a policy exclusively, adding yourself as a named driver alongside a driver who has been driving for longer may help. This can reduce the premium significantly, although it does naturally mean the vehicle will be shared.
Don’t Pay Monthly
The annual cost of insurance can be expensive. As a result, many people choose to pay their bills monthly. Unfortunately, this can actually hike the price massively. Thus, if you can afford to do so, consider paying annually instead. This could save a surprising amount on the final cost of your bills.
Shop Around
Never take the first insurance policy you’re offered. It’s always better to shop around to ensure you get a good rate. Be sure to use comparison sites and do plenty of research to help you find the best possible quotes for you and your car.
Final Thoughts
While the cost of insurance may feel daunting, it doesn’t have to be set in stone. However, there are ways you can lower the price. Fortunately, today’s tips may help. But remember: everyone needs something different from their insurance policy. So, always double check the plan you take covers everything you need.
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