Private Insurance

With Motor Premiums up by 8% in Q4 of 2022 (ABI, Feb 2023) we’ve got the information you need to reduce your insurance premiums. The worst thing you can do is to let your car insurance policy renew automatically, shopping around is one of the best ways to get a cheaper deal on your car insurance. We always recommend taking out a fully comprehensive car insurance policy to protect yourself, your car and any third parties involved. Here are some tips to drive the cost down even further: Search For Your Quote Early The closer you get to the day you want to begin your insurance policy, the more expensive the insurance policy will be. The cheapest time to search for your insurance policy is 25 days before your renewal, this is the cheapest time to ‘lock in’ your insurance quotation price. It’s best to diary this in your personal calendar 30 days before your renewal to give you enough time. Accurately Estimate The Number Of Miles You Drive Each Year We’ve found most people don’t accurately input the number of miles they’re driving each year and often over estimate them. If you’ve owned your car for more than 1 MOT cycle you can use this government tool to check your recorded mileage at each MOT and get an estimate of how much you drive annually . If you’re a low mileage driver, consider pay-as-you-go insurance. Pay For Your Insurance Annually Paying monthly for your insurance almost always works out more expensive as you’re taking a loan, with interest added. This makes a lump sum payment always cheaper. If you can’t afford to pay for the insurance in one lump sum, a good idea is to hunt down a 0% interest credit card . Make sure you keep to the credit cards terms, that’s usually making the minimum monthly repayment and paying off the balance before the interest free period ends. Increase Your Voluntary Excess Excess is the payment you make towards an insurance claim when repairing or replacing your vehicle. Raising your excess will reduce the price of your insurance. Just be sure you can afford the excess and you. Build Your No Claims Discount/Bonus Building your No Claims Discount (sometimes called No Claims Bonus) will help you get a cheaper car insurance policy as insurers reward motorists who are claim-free with a discount. It’s worth getting a certificate from your insurer at the end of each term to keep a record of this yourself. Choose Your Add-On’s Carefully And Sometimes Separately Vehicle insurance often doesn’t come with a courtesy car, GAP insurance, breakdown or legal assist. See if you need these add-on’s for your circumstances and choose wisely. You can get the add-ons for your insurance policy separately which can work out cheaper at times. There are multiple insurers and brokers that offer them separately. Park Your Car With Care Insurers deem parking in a garage, a driveway or anywhere off the road at night time safer than parking on the street as there is less chance your vehicle will be stolen or vandalised. Avoid Modifications Modifying your vehicle can mean a big price increase for your car insurance as it can make it more attractive to thieves, the modified parts are also more expensive to replace than the original parts of your car. Choose Your Job Title Accurately The way you describe your job can affect your vehicle insurance premium. A ‘hairdresser’ and a ‘barber’ can be quoted different premiums. Be honest about your job or you can risk invalidating your insurance policy. Multi-Car Policy If you‘ve got more than one vehicle, considering adding them all onto one policy as many insurance providers will offer a discount Now that you’ve got all the tips to keep your insurance premium low you know what to do when shopping online for car insurance. One thing to keep in mind is to be honest or it invalidates your insurance policy; this includes selecting the correct main driver, the usage of the vehicle (commuting and/or business use)