Everything seems to be getting more expensive lately and, unfortunately, car insurance premiums are no exception. However, there are methods you can use to try and reduce these premiums.
When to Shop for Insurance
In the last part of 2024, the average car insurance premium has risen to £612. To try to reduce this cost, drivers can use it when they need to renew to their advantage. The best thing to do is to wait 21 days before the renewal date, as this is a good time to take advantage of the most competitive rates.
It may be tempting to just renew your insurance automatically if you feel overwhelmed by the number of deals out there, but this will probably lead to you overpaying. The quickest way to see what is on offer is to use price comparison sites to compare quotes and find the best deals.
Negotiating with Your Current Provider
Don’t be afraid to negotiate to get the best deal. After you find the best quote on offer for your car and circumstances, contact your current insurer and get them to match it or beat it.
If they agree, it can save you money without having the fuss of switching providers. Many insurance companies are happy to negotiate in order to keep their customers, so don’t be afraid to ask.
Tailor Your Policy
Making adjustments to your policy can also affect the cost of your premiums. You could increase the voluntary excess, remove extras like complimentary car hire or think about whether comprehensive cover is needed. If you need car hire excess insurance, websites such as Money Maxim have insurance comparison tools to help you.
Make Your Vehicle Less Expensive to Insure
Reducing the risks that might affect your car is another way you could save money. Steps you can take include parking your car in a garage or off-road or installing security measures like alarms, immobilisers or trackers. All of these things can make your car less appealing to thieves and will therefore reduce your insurance premiums.