Car insurance is expensive, plain and simple. Buying a car is one thing, a major cash outlay or signing up to pay off for years. Car servicing is a necessity - we all know that. If you don’t service the machine, it will eventually just pack up and die and you will be left with an embarrassing lump of useless metal in the driveway. Car insurance is something else.
Like all insurance, if you don’t use it, it feels like wasted money. However, if you do need it, it’s there waiting for you. You have to have it and you dare not drive your car without it. In any case, part of it is required by law. The best you can do is to try and save as much as you can when you buy car insurance without buying a useless or ineffective insurance policy.
Here are some tips to saving money on car insurance:
Shop around. The competition among the insurance companies is fierce and they keep coming up with new ideas and new products. Call for a few quotes before you buy.
Use price comparison sites to find the best insurance cover, but remember that these sites only cover a portion of the market and not all providers are in their databases. Make a few phone calls as well just to be sure you have covered the entire market.
Check that you are getting the most appropriate cover. If you have a new or luxury vehicle, opt for the top level fully comprehensive cover. If you are insuring an old, low value car, go for less than the best cover to keep the cost down whilst still complying with the legal requirements.
Think about the excess. The amount of excess that you choose on your policy affects your premiums. A higher level of excess means that you reduce your premiums. But make sure that you can afford the excess in case you have to make a claim.
If you live in the UK take the ‘Pass Plus Test’ if you are a new driver. The cost of insurance for new drivers is exorbitant. However, you can save a considerable amount on the cost of cover if you take the advanced Pass Plus Test after passing your standard test. Some insurers are offering up to a 35% discount if you have passed this advanced course.
