7 Ways to Get a Car Insurance Discount:
2013 saw a near ten percent drop in car insurance premiums in the United Kingdom, with average annual costs now at just under six-hundred pounds for comprehensive insurance. However, car insurance premiums are certainly still not something to scoff at, and premiums for younger and less experienced drivers can still be prohibitively expensive. With rising fuel costs, running a car is already expensive enough, so it is important to cut costs when you can. These following seven tips can get you a car insurance discount.
1 – Think Before You Buy a Car
You can get car insurance discount depending on the type of car you buy – Unsurprisingly, by far the biggest impact on your insurance premiums will be the car that you want to insure. This is also the case even if you only want a basic insurance policy which covers you for mandatory things such as third party liability. For young drivers, it is particularly important to go for a more affordable and less powerful car. By contrast, driving a souped-up and sporty vehicle with a powerful engine will demand much higher insurance premiums, if you can even get insurance at all. Other factors which influence premiums include average repair and maintenance costs, safety records and the quality of the car itself.
2 – Increase Your Deductibles and Get a Car Insurance Discount
In insurance, the deductible refers to the amount that you will have to pay towards a claim in the event of having to make one. While increasing your deductibles will cost you more if you have to make a claim, it will lower your insurance premiums considerably. Just be sure that you will be able to pay any likely deductibles if you have to claim. Remember that the insurance company will not pay out until you have paid the deductible agreed on the contract. Ensure that you have enough savings for any such eventuality.
3 – Invest In Safety Features
Any features which you can add to your car that also reduce the risk of injury or theft should reflect on getting a car insurance discount. Things such as alarms, steering wheel locks, anti-lock brakes and automatic seat belts can all help to reduce the costs, so you may find that they are worth investing in before getting your car insured and on the road.
4 – Become a Named Driver
Adding a named driver who is older and more experienced to your insurance policy can reduce your premiums. However, you should not become a named driver on someone else’s, such as your parents’ policy if you are the owner of the car and/or its primary driver. This is known as ‘fronting’ and is also illegal. Making a claim on this basis could prove very difficult.
5 – Drive Less and Get a Car Insurance Discount
The less you drive, the less likely you are to have an accident, and your car will also need less maintenance and fewer repairs. You should make a note of your annual mileage, since you will need to declare this to the insurance company when you renew your policy. If you overestimate your annual mileage, you can end up paying higher premiums than you need to.
6 – Less Modifications
Young drivers in particular often like to add modifications to their cars such as tinted windows, special paint jobs, spoilers and alloy wheels. While modifying your car might seem like a great way to customize it and truly make it your own, it will also have a knock-on effect on your insurance premiums.
In conclusion, you should remember that basic coverage, including third-party liability, is mandatory. Driving a car uninsured is illegal, and doing so can get you into a lot of trouble. This will also make your future insurance premiums increase considerably, since companies will consider you high-risk.
*Talk to one of our agents to learn more about car insurance discount.