Our experts at Needham insurance have put together some tips that you can use to save on your insurance.
- Avoid auto renewal – experts have shown that people can save up to £120 per year by comparing policies with different providers. Our expert team can do this for you, to always save you money on your renewal. We will even show you how this compares with your current policy.
- Drive your car less often – by driving less miles a year, your premium will be less, as you are not driving as much, therefore your likelihood of having a collision is reduced. Be warned, don’t go too low as the insurance company may raise your insurance premiums as you don’t drive your car very often and are therefore at a greater risk. Try getting an accurate mileage by using your last 2 MOT reports.
- Pay your insurance annually – We are all feeling the pinch at the moment but paying monthly for your car insurance is like taking out a loan. Try using a credit card with 0% on purchases if paying in one lump sum is proving difficult. Even setting up a savings account, and putting away £30 each month, could help with this.
- Increasing your voluntary excess – we often thing to ourselves, what if, can I afford to pay access when claiming, nevertheless, choosing a higher voluntary excess when you take out your insurance, will reduce the price of your insurance.
- Get the right policy for you – Think about how you will be using your car and get the correct policy. If you only use your car for shopping, then you do not need a policy that includes commuting. If you use your car for business use then ensure you have this on your policy as without it could invalidate any claims made.
- Downsize or change your car – The kind of car you drive could have an impact on your insurance price. The factors that affect your policy price are:
- How much the car is worth
- What insurance group it belongs to.
- Whether the car is a luxury or performance car
- The engine size
- Obey the law – Having motoring convictions and points on your licence make you a bigger risk to insurers. If you have more serious convictions, such as drink driving or driving without insurance, you are likely to see your options for cover harder, more restricted, and more expensive. Of course, with all policies, you must declare these as if you don’t you risk invalidating your insurance.
- Build up your no claims bonus – By avoiding claims and building up your no claims bonus will save you considerable money as the more years no claims you have, the lower risk you are to an insurer.
- Only pay for what you need – Some policies will have all add-ons included and these can be more expensive, by considering what you need, means that you can get a policy that includes these add-ons. In some cases these add-ons could be part of a separate policy. Add ons to consider could include:
- Breakdown cover
- Legal expenses cover
- Coutesy car
- Personal accident cover
- Windscreen cover
- Consider a telematics policy – If you are new or young driver, you may consider a telematics (black box) policy. This way you can have a policy that is tailored to how you drive and how often you drive. Be aware that there could be restrictions about when and how far you drive, but your insurance provider will make you aware of these when you take out the policy.
If you have any questions or queries about the above call and speak to one of our experienced staff on 02476 354569
