When it comes to driving, the list of expenses can appear to be endless. The cost of purchasing a car and the running costs is, in fact, increasing each year. A great place to start on your search of slashing motoring expenses is often the insurance, not to mention making sure you have the right policy and suitable cover, so you aren’t paying out more than you necessarily need to. Today we have put together a list of the best ways motorists can avoid splurging unnecessarily on car insurance and as a result, find affordable deals that will lead you on the road to driving happiness.
#1 – Using Price Comparison Websites
It’s something all drivers need to purchase, but how many of us actually check and compare prices between providers? The best thing you can do in order to cut the cost of car insurance is to use a reliable, trustworthy price comparison website. There can be so many hidden fees with certain policies that can be easily overlooked, leaving motorists slammed with a substantial monthly pay-out or annual bill. Don’t just pick the cheapest option on the list when using price comparison websites either, really take the time to double check the criteria, cover type and total interest if you opt for monthly repayments. Of course, when you use an online comparison tool, these prices aren’t personalized, and more often than not, the company will require additional information which can potentially waver the cost, which is something to keep in mind when calling them. This being said, comparison websites are definitely the way to go when searching for the most affordable insurance provider.
#2 – Choosing A Reliable Provider
Choosing a reputable insurance provider is essential when getting the best value for your money. Ask friends, family members and neighbors if they can recommend a great insurer. Take advantage of those excellent online comparison websites to determine which provider has the best offers to suit you. Be sure to check out a provider’s social media pages such as Facebook and Twitter for customer reviews and experiences. You can also use Google and other search engines along with public forums such as Reddit. A great provider will have multiple reviews, a strong reputation and clear terms and conditions so you know as a customer what you are getting for your money. Be sensible and really take the time to look into the company’s history, customer feedback and policies before going ahead.
#3 – Be Sure to Provide Correct Information
Not only is inputting the wrong personal information illegal, classed as insurance fraud, you also don’t want to be caught out in the event of an accident. If your policy contains incorrect data, you may find that it is invalid and doesn’t actually cover you to drive the vehicle. Not to mention, if you are caught driving with an invalid or no insurance at all, you face the risk of disqualification and a criminal conviction. This is why it is so important to provide correct, honest information which can also prevent you from paying out on the additional cover. For example, if you suddenly become unemployed and only use the vehicle for social purposes instead of day to day commuting, then disclosing this information to your provider may enable you to qualify for a lower premium because you are driving less as a result. The same applies if you have changed job or your address and are traveling fewer miles for your daily commute. Mileage has a significant effect on the cost of car insurance as providers consider the more miles you are driving increases your time on the road which in turn puts you at a higher risk of a collision or breakdown.
#4 – Keep an Excellent Track Record
This applies both to driving and your credit rating. Providers will often carry out light credit searches before offering you a car insurance premium. If you appear to miss or make late repayments regularly, a provider may decline you or increase the interest rates of the quoted price. This can also be said for driving history. It sounds fairly obvious, but many drivers do not realize that they actually receive a sort of reward system for each year they haven’t needed to make an insurance claim. This is what is called a ‘No Claims Bonus’ or NCB. Providers will assess you and categorize the level of risk you pose when driving, the more years No Claims Bonus’ you have, the lower the risk you are considered to be. While there are many factors which play into the quoted cost of your insurance such as the car make and model, how accessible or easy to repair the car is, your age, your occupation, even your marital status, it definitely does pay to be a safe, minimal-risk driver.