The easiest ways to improve your insurance prices
Vehicle insurance has been on the up for sometime in the UK and you may not even realise it but there are ways to improve the price you are currently paying for your vehicle insurance. Each year you receive your new premium through from your provider and instead of it going down because you are a loyal customer it increases year on year! Most of us are far too complacent and assume that this is just something we are forced to accept but this does not have to be the case. Below are a few handy tips for improving the price you pay for your insurance.
- Consider the vehicle – Before you go purchasing your dream car it is always best to check the insurance before you make the purchase. Often by considering the vehicle you purchase you can save yourself a considerable amount on your insurance.
- Excess – Often by going with the lowest excess you actually end up increasing your insurance premium. If you are an experienced driver with a large no claims bonus and are unlikely to be causing any major accidents then why not risk increasing your excess to amount you could afford but that will lower your premium.
- Cover – If you are driving around in a vehicle that is not on finance and is fully paid for or so old that it is not really worth much then why pay for the most expensive cover. Why not look at what products you can afford to remove from your cover to help lower your premium. Often some customers do not even realise that they are paying for certain added luxuries as they fail to read through their cover documents in full.
- Shop around – Don’t take the first insurance you are offered. You should shop around and compare at least 5 or 6 insurance companies before you make your decision. There are various online compare websites that will offer you an array of quotes so that you can choose the cheapest available to you.
- No claims – A long standing no claims history can really help to lower your premium but should the worst happen you could lose that no claims history and find your premium increasing rather that decreasing. Many insurance companies now offer a no claims protection service and often this is well worth doing to ensure your premium remains low.
- Renewal – When you receive your annual renewal you are given a period of time to change insurers or argue the cost. Most of us don’t bother with the hassle of doing this because we foolishly believe it is set in stone and this is exactly what insurers like you to think. However, by making a call to your insurer to express your dissatisfaction at your renewal you can often save yourself money as they will often offer a discount on the premium.
- Multiple Policies – Most insurance companies now offer substantial discounts for multiple policies. If you have a partner or teenager at the same address and you all move to the same insurer you will often receive a discount off your premium for doing this. Also if you find an insurer who offers multiple products such as home insurance and pet insurance and take out these policies also then you often receive discounts off all policies taken with them.