7 Things Car Insurance Companies would rather you didn’t know
Car Insurance is expensive but an essential cost to running your car, but how can you reduce it? It has recently been reported that car insurance is set to rise; ‘Drivers aged over 65 could also face an extra £300 charge, while the average comprehensive motor insurance policy could increase by up to £75 a year to cope with changes the Government has made to personal injury payouts.’
Here at Jet Wheel Tyre we have put together a few pieces of advice from the internet that help you save money on your car insurance. These few points could save you a lot of money on your car insurance, and ensure you come up on top against the car insurance companies!
- Add a more experienced driver to your insurance policy
If you are a young driver, adding a more experienced driver will reduce the cost of your insurance. The insurance company sees the risk of an accident occurring is reduced if a more experienced driver is behind the wheel some of the time.
- Take extra driving qualifications
Insurers love a driver who has taking the time to improve their driving skills. Qualifications such as Pass Plus help drivers to learn to drive more safely, and therefore the insurance companies see the risk reducing. There are other advanced driving courses you can also take to help reduce the cost of your policy.
- Your policy is affected by the vehicle you drive
The car you own will be put into a category by your insurance company. Insurance group 1 is the cheapest to insure. There are a number of tools on the internet which can help you figure out what group your car belongs to, and will intern help you choose what car you want to purchase if you are a young driver (better insurance group, better priced car insurance). Here is one of the websites you can use to find out what category your car is in http://www.parkers.co.uk/car-insurance/insurance-groups/.
- Purchasing a black box insurance
Black box insurance monitors the driver’s style and behaviours, ensuring the premiums are kept to a minimum. Many people think black box insurance is purely for younger drivers, however, it can be beneficial to all of us!
- Install an Anti-Theft Device
Your insurance company will reduce your premium if you install an anti-theft device on your car. This is because insurers look favourably to anti-theft devices, as there will be fewer claims on stolen vehicles. There are many theft devices that can be purchased; see below an article on how to pick the right anti-theft device for your car:
- Do not take the first car insurance renewal you are offered
Many companies seem to increase your car insurance on your automatic renewal, even if you haven’t claimed during the year. There are a number of comparison sites that can help you find the best deal for you e.g. Money Supermarket, Confused.com and uSwitch.
- Pay Yearly for your insurance
If you save up each month and pay your insurance in full on the renewal you will instantly save money on the interest you would be charged for paying monthly. For more information see link below to a uSwitch article on the differences between paying monthly and yearly for your insurance.