Follow this topicFollow this topic Knowledge » Car insurance

25 ways to cut your car insurance

lovemoney staff
by Lovemoney Staff lovemoney staff on 05 March 2014  |  Comments 30 comments

As the 14 number plates hit the forecourts, we round up 25 ways to slash your car insurance premiums!

25 ways to cut your car insurance

The 14 number plates have now been released to forecourts everywhere. But whether you're buying a new car or your current car insurance policy is ending, it's important to shop around.

Here are 25 ways to cut your car insurance costs this year. Be warned: some are more extreme than others! 

1) Change your job title

The less risky your job, the lower your premium. As long as you still accurately describe your occupation, you can change your job title with your car insurer and your policy will still be valid.

2) Downgrade your car

Cheaper cars with smaller engines cost less to insure. Rare, expensive cars cost more!

3) Increase your excess

The higher the excess, the less you should pay in premiums.

4) Shop around for the best quotes

Competition is fiercest among car insurers for new customers, so don’t automatically renew. Why not give the Lovemoney car insurance engine a spin?

5) Ask your existing insurer to beat the best quote you’ve found

It doesn’t cost you anything to ask, and it’s less hassle than switching.

6) Trim off any extras you don’t need

Why pay for ‘free car hire’ while your car is being fixed, if you don’t need it?

7) Add a second driver

If the additional driver won’t actually use the car, this can bring the premiums down.

8) Get married

Married drivers pay less as they are statistically seen as more ‘stable’.

9) Move in with your partner

Again, those in a stable relationship are seen as less risky drivers, and pay less.

10) Gather your quotes 28 days and one day before renewal

Quotes are often valid for 28 days. That way, if prices go up just before your renewal date, you can revert to your original quote.

11) Broaden your search

Aviva and Direct Line don’t appear on any car insurance price comparison websites so you need to go direct to these insurance providers to compare quotes.

12) Consider a ‘pay as you drive’ scheme

Some schemes, such as AA Drivesafe, fit a special device to your car so the insurer knows how much you drive it. The less you drive, particularly at risky times (eg night-time), the less you pay! Read more in Pay As You Drive car insurance.

13) Park your car off-road or in a garage

This means your car is less likely to be stolen, so is less risky to insure.

14) Make the car more secure

Adding an immobiliser, alarm and tracker to your car will also reduce the risk of it being stolen, and bring down your premiums.

15) Spend less on hire car insurance

Get car hire excess insurance and reduce your excess that way, rather than buying an expensive add-on from a car hire firm.

16) Get a multi-car discount

Some insurers such as Admiral, Privilege and Direct Line will give you a discount if the same person insures more than one car.

17) Pay for your insurance upfront

Insurers will charge you as much as 20% extra if you want to pay off your premium in monthly instalments.

18) Get a 0% on purchases card

Pay upfront for your insurance using the market-leading 0% purchases card and you’ll be able to pay it off gradually without being charged any interest.

19) Take an advanced driving course.

Taking the Pass Plus training course could shave as much as 30% off your car insurance premium.

20) Reduce your cover

If you drive an old banger that’s on its last legs, opt for third party cover rather than comprehensive cover.

21) Declare whether you’ve made any claims

If you haven’t claimed on your car insurance for a year, you’ll earn a no-claims bonus which can help to bring your premium down.

22) Avoid modifications.

Adding spoilers, alloy wheels or boosting the engine size is likely to increase your premium.

23) Accurately assess the value of your car

When getting quotes, make sure you don’t overestimate the value of the car or you will end up paying too high a premium.

24) Buy online

You usually pay less if you buy your car insurance on the internet, rather than over the phone.

25) Impose a mileage limit on yourself

You can lower your premium by sticking to a mileage limit. 

Compare car insurance at lovemoney.com

This is a classic lovemoney.com article

More on motoring

How to find the cheapest diesel and petrol prices

Multi v single car insurance – what’s cheapest?

Cut your car park costs

Five ways to make money from your car

Pay As You Drive car insurance

Young drivers and Pay How You Drive car insurance

Car finance options: credit, loans, HP and leasing

How to beat parking fines

Enjoyed this? Show it some love

Twitter
General

Comments (30)

  • Showts
    Love rating 0
    Showts said

    I have a full HGV licence (C+E as it appears on licences) which was and extra 2 and a half weeks intensive training, at the cost of about 5000pounds. But according to all insurance companies this is irrelevant. Apparently it does not make me a better diver, it does not make me read the roads differently, etc, etc.

    So if anybody out there fancy's driving HGV's then go ahead and drive them. I'm now emailing the DVLA informing them of their error in the legal standings and that according to the insurance companies we don't need to do the extra qualifications because they see them as "Irrelevant".

    On a less sarcastic note: Insurance companies in the UK will charge you as much as they want and sell you as little as possible because they know we all HAVE to have insurance. However, in Australia they pay higher road tax ("Vehicle Registration" as its called over there) and they are automatically covered 3rd party by the government and further insurance is NOT a legal requirement. Thus insurance is far cheaper as it is far more competitive.

    The Australian system has a 2 fold effect: Anybody can drive any vehicle at anytime and be insured. Meaning that fewer people drive while unfit too, ie tired, drunk, injured, etc. because they can hand the keys over to a friend or family with out any hassle from insurance companies. Why is this not the case over here? Maybe the banks and government are to cuddled up with the insurance companies? This kind of behaviour would be known as corruption, fraud and bribery if we were talking about it in Africa or South America...

    Report on 05 September 2013  |  Love thisLove  0 loves
  • electricblue
    Love rating 769
    electricblue said

    Author of this article is clueless. Even if you drive an 'old banger' it is usually cheaper for all but very young drivers to have comprehensive cover. Doesn't make sense, but it's a fact which a little diligence would have uncovered. The stated value of the car has an almost infinitesimally small effect on the premium - or what you get paid out in a 'total loss' situation. Insurers totally ignore what you think the car is worth and have some median value between scrap and barely legal which they have as their 'norm' unless you put up a good argument in the event of a claim.

    Report on 05 March 2014  |  Love thisLove  0 loves

Post a comment

Sign in or register to post a reply.

Our top deals

Credit card
company
Balance transfers rate and period Representative
APR
Apply
now

Barclaycard 31Mth Platinum Visa

0% for 31 months (2.99% fee) Representative 18.9% APR (variable) Apply
Representative example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. A Balance Transfer fee of 3.5% will be applied, then reduced to 2.99% by a refund (terms and conditions apply). Plus an additional £20 fee refund on balance transfers over £2000.

Barclaycard 30Mth Platinum Visa

0% for 30 months (2.89% fee) Representative 18.9% APR (variable) Apply
Representative example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. A Balance Transfer fee of 3.5% will be applied, then reduced to 2.89% by a refund (terms and conditions apply). Plus an additional £20 fee refund on balance transfers over £2000.

MBNA 30Mth Platinum Credit Card Visa

0% for 30 months (2.89% fee) Representative 18.9% APR (variable) Apply
Representative example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.
W3C  Thank you for using One Flew Over the Cuckoo's Nest