Car insurance: are you spending too much?
If you think you’re spending too much on your car insurance, you probably are. Far too many drivers fail to find the best deals on vehicle cover, meaning they end up shelling out much more than they need to. To work out if you’re paying over the odds for this financial protection, it’s worth asking yourself the following questions.
Do you make snap decisions, or simply renew year after year?
OK, so scouring the market for competitive car insurance quotes isn’t many people’s idea of fun, but if you have a tendency to go for the first offer you see or you fall into the trap of simply renewing with your existing provider year after year without checking the alternatives, the best deals could be escaping you. Bear in mind that shopping around for insurance doesn’t have to be a torturous experience. One of the best ways to find attractive offers in a hurry is to visit the websites of specialist brokers. These firms will compare quotes from leading providers on your behalf and present you with the most competitive premiums.
Which insurance extras do you really need?
If you’re a sucker for insurance extras, now could be the time to rethink your strategy. Sure, the use of a courtesy car might be nice luxury, but do you really need this add-on? Other extras to watch out for include windscreen cover and legal expenses protection. That’s not to say you should necessarily ditch these extras. Just make sure you think carefully before you sign up to them. After all, they are likely to push your premiums up.
Who actually drives your car?
For convenience, you might be tempted to stick your whole family on your policy. However, this approach could be costing you big. It’s true that adding another driver can in some circumstances actually lower your insurance costs, but multiple drivers are likely to increase them. Be especially careful when it comes to adding motorists under the age of 25, as people in this age range can cause major premium hikes.
How high is your voluntary excess?
Think about your voluntary excess too. By agreeing to pay more towards the cost of accident repairs, you can bring your cover costs down. That said, don’t be tempted to raise your excess too far. Remember, if you need to make a claim, you must be able to cover this sum.
Do you take security seriously?
Then there’s security to consider. If your car hasn’t already got an approved alarm, tracking device or immobiliser, now could be the time to fit one. Enhancing your vehicle’s security may bring you significant insurance savings and, as an added bonus, it’ll boost your peace of mind. Also, if you have a garage but you don’t use it for your car, it’s worth clearing the space and parking your vehicle there. Your insurer may offer to cut your premiums if you lock your car away overnight.
Could you cut your mileage?
Consider how many miles you clock up in your car too. The more you’re out and about on the roads, the more of a risk you’re considered to be by cover providers. So, by keeping your mileage in check, you stand to benefit from more competitive deals.
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