The High Cost of Car Insurance: 5 Tips to Keep Your Premiums Down
Car insurance premiums have been on the rise, and young people are being hit the hardest. Despite a 4% decrease in the first three months of 2024, prices are still higher than last year on average. As a driver, it’s essential to find ways to keep your costs down. In this article, we’ll explore five tips and tricks to help you save money on your car insurance.
Car insurance premiums are still incredibly high, especially for young people.
Switching Providers: The Key to Cheaper Premiums
Loyalty doesn’t always pay when it comes to car insurance. In fact, being loyal to a company can actually increase your premiums. According to Confused, 75% of drivers who renewed their car insurance in the first three months of this year saw an increase in their premiums, with an average price hike of £94. However, 45% of those quoted a higher renewal price could save £90 by shopping around for a better deal.
Go Annual: Save Hundreds with One Payment
Making one payment for the whole year can save you hundreds of pounds compared to making multiple monthly payments. This simple trick can help reduce your car insurance costs significantly.
Making one payment for the whole year can save you hundreds of pounds.
Renew Early: Get a Cheaper Price with Advance Renewal
Renewing your cover a few weeks in advance rather than a few days can often get you a cheaper price. This is because insurance companies tend to offer discounts for early renewal.
Keep Mileage Down: Limit Your Driving to Save on Insurance
Limiting the number of miles on your clock can help you avoid being hit with a higher premium. This might seem obvious, but it’s an effective way to keep your costs down.
Tweak Your Job Title: Save Pennies with a Simple Change
Tweaking how you define your job, without lying, could actually save some pennies. For example, if your job title states ‘barber,’ try ‘hairdresser’ or ‘hair stylist’ to see if you can get your insurance slightly cheaper.
Haggle: Negotiate with Your Provider for a Better Deal
If you’re really not wanting to switch providers, haggling with your current provider could help bring the price down. There’s no guarantee, but it’s worth a try.
By following these five tips, you can significantly reduce your car insurance premiums and save money. Remember to always shop around for the best deal, and don’t be afraid to negotiate with your provider.
By following these five tips, you can significantly reduce your car insurance premiums and save money.