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Driving a hard bargain; Some simple measures can save you a lot of money on your car insurance premiums, says Jack Evans.

Byline: Jack Evans

CAR insurance can be one of the largest outgoings related to car ownership. Certainly, after the purchase and maintenance of the vehicle itself, insurance is an often wince-inducing cost to deal with.

But there are a few ways to help bring down the cost of insurance. We've taken a look through some of the key measures you can take to help make premium costs a little more bearable.

And remember, driving without insurance isn't an option - it's a legal requirement, and getting behind the wheel without any cover in place carries the potential for a large fine and penalty points on your licence.

Here's eight ways you could potentially save money on your car insurance...

1. Shop around It might sound simple but shopping around can be one of the quickest ways to drive down the cost of your insurance. If your premium is up for renewal, refrain from automatically allowing it to roll over.

Comparison sites can be a great place to start but picking up the phone and contacting insurance providers directly can also prove useful. 2. Check your mileage With people generally staying closer to home right now due to the coronavirus pandemic and the resulting restrictions, you might not be travelling as far as you had been pre-Covid-19. It could be useful, therefore, to see what the mileage limit for your policy is.

Travelling a smaller number of miles will result in lower premiums.

3. Pay for your policy annually Paying for your car insurance via a monthly direct debit is a way that many people choose. In truth, this option is a necessity, rather than a choice, for a lot of drivers, with the yearly premiums representing a considerable chunk of cash they may not have. Paying monthly incurs interest, so opting for a full payment avoids this.

4. Increase your excess Voluntary excess is an amount you'll pay towards repairing a car if it's damaged. Setting a larger voluntary excess will drive down the amount you'll pay for a premium, making for lower monthly or yearly costs.

However, be prepared that in the event of an accident you will need to pay this excess - so ensure that you're able to pay the full amount. 5. Review the type of cover you need The type of cover you've got often has quite an influence on how much you pay for insurance. Fully comprehensive is the most often used since it provides a more rounded coverage but if you're driving an older, more inexpensive car then you could think about reverting to third party, fire and theft cover. Given that it provides less overall cover, then it should cost less. 6. Use a garage if you have one Have a garage which is packed with garden equipment and other odds and ends? It could be worth clearing it out in order to park a car in there, as it can drastically affect how much you'll pay for insurance.

If insurers know you're parking a car in a locked garage, they know it's safer than out on the street, so you'll likely see a drop in premium cost. 7. Review the type of car you have It's no secret that smaller, less powerful cars cost less to insure. This is why, if you're keen to reduce your insurance outgoings, reviewing the type of car you have could really save you money.

A smaller, lower-capacity engine will drop your premium costs considerably.

8. Consider changing the usage on your policy If you're now working from home now as a result of the pandemic, then it could be worthwhile changing your insurance policy terms to "social only", providing you're not planning on doing any commuting.

Only commit to this if you're sure that you're not going to be commuting by car though - if you have an accident and you're found to have been using it out of the terms of your insurance agreement, then a provider might not pay out.


MAKE THE CALL Contact insurance providers directly
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Author:Jack Evans
Publication:Daily Record (Glasgow, Scotland)
Date:Aug 28, 2020
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