How to drive down your car insurance premiums

With insurance costs once again seeing a continued rise, owning and insuring a car can be an expensive business.

The good news is, however, that there are easy – and legal – steps that you can take to ensure that the cost of your car insurance is as low as possible. Our five top tips for making premiums more manageable are as follows…

1. Choose your car carefully. Every vehicle is classified into different insurance groups, with those buying sportier models and cars with larger engines generally finding that the premiums that they pay will be higher. Choose your car carefully: you may well find that even a slight decrease in engine size or a switch down to a slightly more basic model can save you money on your car insurance.

2. Reduce your mileage. While this may be difficult for those purchasing motor trade vehicles, a reduction in your annual mileage can lower your insurance costs. Just be careful to be accurate when stating your estimated annual mileage when obtaining insurance quotes, as any inaccuracy could cause problems in the future should you need to claim.

3. Think about security. If your vehicle does not already have security features built in, consider adding these for a decrease in premium. Features such as tracking devices, immobilisers and alarms could all help to cut your insurance costs.

4. Increase your voluntary excess. By increasing the voluntary excess that you pay in the case of a claim, you will find that your insurance premiums will be lowered. By increasing your excess, you will be increasing the amount that you will need to pay if repairs are needed, but the excess can be recovered if the repairs are due to an accident that was not your fault.

5. Protect your no-claims bonus. While it may cost extra to protect your no-claims bonus, the small additional cost that you will pay pales into insignificance when compared with the amount by which your premium could be increased should you claim and lose your bonus. Check carefully with your insurer, though, as the terms of no claims bonus protection vary from policy to policy.

For more on motor traders car insurance head over to our traders page.