| Step 1 -
Excess The easiest way to cut your car
insurance premiums is to cut the risk and accept a higher
voluntary excess. An insurer's standard excess may be £100
but if you meet the first £250 of any claim, you'll
see a reduction in your premium. This is because you're taking
on more of the risk so you get a discount. But it's a gamble,
be aware that you might have to meet the cost of a broken
window after an attempted theft, then a bill for repairing
bodywork damage after a car park crunch.
Step 2 - Security Fitting security devices
can also result in cheap
car insurance premiums. All major insurers insist on Thatcham
rated security equipment, usually a minimum of an alarm. If
you live in a high-risk area for car crime, it makes sense
to fit extra security. It saves you money when your insurance
renewal is due and gives you extra peace of mind.
Step 3 - Annual Mileage If your annual
mileage is, 5,000 miles or less, ask insurers if they offer
discounts for agreed mileage restrictions.
Step 4 - Named Drivers Adding a named
driver to your policy can increase or reduce your premiums
depending upon the named drivers age, sex and driving record.
Adding a young driver will increase your premiums, particularly
with a limited or poor driving record. However, adding a driver
over 30 years old with a long and clean driving record can
cut premiums, particularly if the named driver is female!
Step 5 - Shop Around The biggest car
insurance savings come from shopping around. This has
been made much easier with the explosion of the internet.
There can be massive differences between the lowest and highest
car
insurance quotes for exactly the same car and driver(s).
Start off using good comparitive online car
insurance quote sites like Moneysupermarket and Screentrade,
take their best quotes and go direct to the cheapest
car insurance companies for more specific quotations.
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