As with all essential purchases, it’s always a good feeling to know that you’ve secured the best possible deal available. This is no different for car insurance, which as a legal requirement, all drivers must purchase. However, especially in times of economic uncertainty, it is essential that people can find a deal to suit their financial circumstances.
So, if you own a vehicle, but are finding that your car insurance premium is too pricey, what can you do to lower costs whilst still being adequately protected?
One of the first things you need to consider is what type of coverage you want, i.e. third party or fully comprehensive. It is also worth thinking about the policy’s optional extras. For example, it is possible to lower your premium by reducing the ones you choose, such as deciding not to have a courtesy car or foregoing legal expenses.
Another way to secure a cheap policy is to work out the distance you travel on a weekly or monthly basis, and then look for a ‘limited mileage’ policy. This is particularly good for drivers who don’t use their cars very often, or who don’t travel long distances regularly.
Fitting the right security devices can also help to lower the cost of your car insurance policy. For instance, using an approved car alarm and immobiliser will show insurers that you are serious about safety. In addition, parking in secure areas or off-road can additionally see your premiums lowered.
Opting to take out a higher excess can also lower your car insurance, but be aware that in doing so, you will have to pay out that amount from your own pocket. Therefore, think carefully about if you could afford to pay £1,000 in excess as opposed to £250, for example.
According to the experts, however, the most vital thing you can do is research the marketplace and compare different policies. In doing so, you will be able to secure a number of quotes, which will provide you with a good representation of what the marketplace has to offer.
The internet is an ideal tool for when you need to compare cheap car insurance and often has discounts available that can’t be found on the high street. Comparison websites are ideal for the task of looking for insurance, since they can quickly and efficiently search through a number of quotes to find the best one for your budget.
A quick word of caution though: cheap will not always provide you with the best coverage. Therefore, it is important to consider that when looking at the costs of different car insurance policies, it is the protection that you get for your money which should determine a policy’s cost-effectiveness.
by Jamie Rigwell
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