The cost of car insurance premiums has dropped by 3 percent in 2018, according to figures from the Association of British Insurers. Even with the decrease, the average premium is still £471. This means the cost of insuring a car is quite expensive across the country.
The good news is that there are some strategies you can take to get sufficient coverage at a lower price. Here are key ways in which you can save money on your car insurance.
Invest In a Black Box
There’s a good number of insurers offering telematics policies today. You can get a cheap premium if you accept to fit a ‘black box’ device in your car. The purpose of this device is to monitor your driving habits, so you can be rewarded with a substantial discount if you drive safely and carefully.
Shop Online
Shopping around online and comparing different quotes is the dominant way to get better car insurance rates. The process is now easy because there are a plethora of comparison sites on the web. Just have a quick look on the internet, and compare prices of different insurers. With a smartphone connected to the internet, it can take less than five minutes to find a good deal.
Limit the Miles
Setting a few mileage limits can positively affect the cost of insuring your car. This is because insurers believe that there’s a lower likelihood to have an accident if you drive less. The fact is that, by dropping your mileage from 10,000 miles to 6,000 miles per year, you can save up to £63 on your annual premium.
Improve Your Car’s Security
Insurers offer cheap premiums if you make your vehicle less at risk to theft or vandalism. In fact, you can save 10% to 20% on your annual premiums just by fitting your car with Thatcham approved immobiliser, alarm or tracking system. You can as well make your vehicle more secure by parking it in a garage or on your driveway.
Although car insurance is expensive, it is possible to reduce your premium in a variety of different ways. Before agreeing to changes to your policy and switching insurers, read the terms and conditions of your new policy carefully to ensure that the cover offered meets your needs.
