Six Ways to Bring Your Car Insurance Premium Down

On average, it will cost you a whopping $30k to become a new car owner today. Of course, you can save yourself a lot of money by purchasing a used vehicle rather than going for one that’s fresh out of the showroom. But no matter how much you’re saving on the initial car purchase, you still can’t get away from all the additional costs that come with getting on the road.

Filling your car up with gas, paying all the relevant taxes, and making sure that you’re suitably insured are three of the main things that you can’t get away from when you own your own vehicle. Add that to regular maintenance costs and any repairs that may be needed, and you’re quickly spending a large amount for the privilege.

Car insurance is particularly important; it’s a legal requirement and keeps both yourself and any third-parties financially protected in the event of an accident. It’s an expense that you simply can’t get away from. But the good news is there are several things that you can do to cut the cost down. Read on to find out more!

#1. Change Your Car:

Is the insurance cost for your car worth it? In some cases, spending more on a car could be a worthwhile investment due to the savings that you’ll make on insurance costs. For example, if you have a particularly old car, insurers may quote you more to cover it as it’s more likely to break down or doesn’t have all the safety features found on newer models.

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If you’ve been thinking about getting a new car for some time, it could definitely be worth it if you’re going to make insurance savings. The best part is that you don’t have to buy a brand-new car, either – newer second-hand cars can be just as cheap to insure.

In addition, the make and model of your car can make a massive difference to insurance premiums. If you’re buying a new car, do some research beforehand into which cars are most commonly involved in accidents and avoid getting one for your new ride. Cars with lower accident statistics on the road will always be cheaper to insure.

#2. Don’t Drive as Often:

Cutting down on the amount of driving that you do can be great for many reasons. Firstly, you’ll be contributing to reducing air pollution from fumes in your city if you choose to take public transport, car share or ride your bicycle to work instead. Plus, it can also be a lot better for your health travelling to work on foot or a bike, since you’ll be out in the fresh air and getting more physical exercise.

Not driving your car to work means that you can opt for an insurance policy that does not include commuting. This is often less expensive since the insurer will assume that you’re not driving your car as often as you would if you used it to get to work every day. Plus, not taking your car to work means that you’ll avoid driving in rush hour traffic, where the likelihood of accidents is higher.

#3. Include a More Experienced Driver:

If you’ve just qualified as a driver, insurance costs can come in at a staggering rate. It makes sense when a huge percentage of accidents on the road involve new and inexperienced drivers, but for new drivers looking to get on the road, massive insurance costs can be a huge obstacle.

If you can, allowing somebody more experienced to drive your car by including them on your insurance policy can help you drive the cost down. If your partner, parent, or even your friend has been driving for a lot longer than you and has no recent claims, including them on your insurance policy can be a great way to save money. Plus, you’ll have the additional benefit of being able to share your car with them without worry.

#4. Shop Around:

It’s absolutely crucial to shop around when it comes to getting insurance for your car. Don’t go with the first insurance provider that you find, as there could be more out there that are willing to offer you much lower premiums. Comparison sites are excellent for this as they’ll show you all the different quotes available and you’ll quickly find out who’s offering the best rates.

This goes for when your current insurance is up for renewal, too – going with your current provider for another year is almost always going to cost you more. Instead, shopping around and taking out a new policy is more likely to help you save money. Do some research beforehand to determine which option is the cheapest. Learn more about what you need to know about new car insurance here.

#5. Consider Getting Rid of Optional Extras:

Undoubtedly, some optional extras that you might have in addition to your regular car insurance can be very useful. Breakdown cover, for example, may not be a legal requirement but it’s essential for any car driver to have. It gives you the peace of mind that you need when driving, as you know that if something goes wrong, you’ll be covered, and you call somebody out to help. Your insurance policy may also offer you the option to add additional personal injury cover, cover for driving abroad, and many other options.

But don’t just blindly go with what your insurance provider is offering. In fact, you may be able to get the same extras at a much cheaper rate by shopping around and getting them from separate providers. Although it’ll take a little bit more time, the savings can certainly add up. So, do your research before you agree to add optional extras to your policy.

#6. Drive Safely:

Last but not least, the best way to reduce your car insurance premiums over time is to drive safely. This will put you at a lower risk of being involved in accidents or having claims made against you. As a result, your insurance quotes should drop year after year.

Did you find these tips helpful? We’d love to hear from you!

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