How Tesco Click and Collect Works Heard of Tesco Click and Collect and want to…
How to get your Car Insurance Cheap in the UK
Want to get your Car insurance Cheap?
There are more than 32.7 million cars on the roads of the UK and the majority of them have car insurance. Per year, the average cost of a comprehensive car insurance policy in the UK is £550. Most car drivers can save hundreds of pounds a year on car insurance but they choose to pay more by staying with their existing provider.
In fact, they do not shop around for the best car insurance premiums. Instead, they accept their current insurer’s much higher quote. If your annual car insurance renewal arrives at your doorstep and it’s more expensive, then it is time to find the cheapest car insurance?
In this post, we share tips to find the cheapest car insurance in the UK.
1. Shop Around
Thanks to the internet, it’s now easier to compare insurance quotes. In fact, you can do so from the comfort of your home or office. Simply find the best comparison sites such as Confused.com, USwitch, or MoneySupermarket. Sign up and fill in your details, such as your car registration number, driving license, and even your annual mileage.
Then the site will instantly display quotes from dozens of car insurers. Now, you can compare the offers. By taking a look at other insurers and rates offered, you may get a similar policy with other providers that will slash your costs and save you money.
2. Haggle for the Cheapest Quote
If you would like to stay with your insurer, but the time for renewing your car insurance has come, then you can haggle for the cheapest quote. All you need to do is pick up the phone and haggle for a discount. It is important to be upfront about your mileage and location.
Never accept the first offer. Instead, challenge their quote. It’s always a good idea to research and find other prices. You may be lucky, and your insurer will match your price and even offer a freebie.
3. Fully Comprehensive vs Third Party
A fully comprehensive car insurance policy will cover loss and injuries to your passengers. It will also cover damages and loss to other property and your car. A third-party car insurance policy covers damage to other vehicles and their passengers. Basically, the latter is more restrictive than the former.
If you assume that a third-party car insurance policy is the cheapest to go for, you’ll discover too late that it costs more. So, it’s best to compare quotes for fully comprehensive car insurance policies, and then go for the cheapest.
4. Pay Your Car Insurance Annually
Paying for your car insurance monthly helps you budget more effectively. However, if you compare the totals – paying monthly vs annually – you’ll discover you’re paying more when you pay monthly. This is because insurance companies add interest to monthly payments resulting in you paying more.
If you choose to pay your car insurance monthly, use a credit card with 0% interest in purchases. This way, you’ll keep enjoying the benefit of budgeting monthly without paying more for your car insurance. Just remember, that’s not free money (credit card), and you’ll have to pay it all off.
7. Avoid Modifying Your Car
It’s common for drivers to modify their cars to suit their tastes. Some of the changes car drivers choose to include are:
- Suspension upgrades
- Paint jobs
- Window tint and more
While your car may look or perform better than the stock version, insurers will not give cheaper insurance if you modify your vehicle. If they do, they will charge you a lot more. In some cases, the insurance may be more than the car’s worth.
8. Avoid the Auto-Renewal Trap
Auto-renewal is a pre-agreed process with your car insurer. Basically, your insurance continues on a month-by-month basis with the same terms. While it’s a hassle-free method, auto-renewing can lead to higher costs. In fact, you’ll end up overpaying your car insurance. Experts estimate that auto-renewing costs drivers more than £100 in overpayments.
With the rise in the cost of living and household budgets stretched, avoiding the auto-renewal trap will save you money. Instead of auto-renewing, shop around for the best deals at the end of your car insurance policy.
9. Rethink Your Mileage
When car drivers apply for car insurance, they are often asked to estimate the number of miles or kilometres they’re set to drive throughout the year. What many people don’t know is that the number of miles travelled impacts the cost of insurance.
Basically, the more miles you drive, the higher the chances of making a claim. This is why the more miles you estimate, the higher your insurance costs. To save on your car insurance, it’s best to recalculate your mileage based on the amount of time you’ll be at home, especially if you’re working from home.
Remember, don’t assume that rock bottom mileage means cheap insurance. If you barely drive your car, your insurer could see that as a risk. The trick is not to under or overestimate your mileage. All you need to do is get the real figure.
10. Improve Your Vehicle’s Security
Improving your vehicle’s security will not only deter thieves but it could save you money on your car insurance premiums. Basically, the harder it is for thieves to steal your car, the less of a risk it is. In insurance, this means lower car insurance prices.
There are several ways to improve your vehicle’s security. You can install an approved car alarm and engine immobiliser. Insurance companies also recommend a tracker device that will help in recovering your vehicle in case it’s stolen.
Before installing any security devices in your vehicle, it’s important to talk to your insurer. They can tell you which security devices they approve and which they give discounts.
11. Choose Your Car Wisely
Shopping for your first car is an exciting time for first-time drivers. Most people will take into consideration the following factors – Brand
- Fuel efficiency
What most drivers forget is that the type of vehicle influences the cost of car insurance.
If you buy a smaller car with a smaller engine, it will attract a lower premium. For example, a Suzuki Swift attracts lower premiums than a big car like a Land Rover or Range Rover. So, if you are shopping for cheaper premiums, it’s best to consider the type of car you’re buying.
12. Install a Telematics Black Box
Black box insurance or telematics is a small box fitted to your car that measures a variety of aspects such as how, when and where you drive. Your insurer can use this information to calculate your personalized renewal quote.
Some insurers also offer bonus miles each month for drivers with a black box. Not only that. You’ll qualify for lower premiums if you maintain a good driving record. So, if you’ve a black box in your car, no more burning rubber or drifting if you want to save on car insurance.
There are more ways to qualify for cheaper car insurance. You can take an advanced driving course where you’ll focus on things, such as timing, positioning, observations, control and others. The course takes three to six months, and if you qualify, you’ll be eligible for cheaper car insurance from select insurers.
You can add your dad, mum or partner to your car insurance policy. However, having too many drivers on your car insurance policy could result in high costs. This is true, especially for young drivers. The reason for this is that insurers consider young drivers high risk. So, if you’ve a family member or friend on your car insurance policy, and they don’t drive your vehicle, consider removing them.
Lastly, obey the law. When you’ve a motoring conviction on your licence, you look like a bigger risk to insurers. By driving safely and obeying traffic laws, you keep your licence clean and qualify for cheaper car insurance.