The secret to lowering your car insurance costs

Motorists face costs from a variety of different angles nowadays, with road tax, car insurance and MOTs all being legal requirements. On top of this, fuel and maintenance costs will also be incurred. Driving is often considered a necessity by those looking for increased mobility and that means that saving money on these expenses has become even more important.

The truth is saving money on your car insurance can actually be achieved fairly easily. This is because quotes for this product are affected by a number of different factors, meaning that even small changes could have a significant impact on the overall price.

To reduce your car insurance costs, follow these tips:

Compare prices

According to a price comparison site, automatically renewing your car insurance policy costs a collective £2.4billion. With more than 2.5million UK drivers said to renew their policy without consulting other sources this means that you could be one of the many people who are spending money unnecessarily.

It is therefore vital that you compare the prices which are offered by different providers. You should remember that not all insurers offer quotes through comparison sites and therefore you may need to make your enquiries directly. Whilst this may take longer it can give you a more accurate quote and will be well worth the extra time expenditure if it yields positive results.

Park safely

Even small factors like where your car is kept overnight will affect the cost of your policy. This is because cars which are parked in unsecure locations, such as public roads, are more likely to be the targets of theft or damages, increasing the likelihood that you will make a claim.

Where possible you should therefore store your car somewhere secure – such as in the garage or in a secure car park. Never be tempted to lie about where your car is parked or any other part of your insurance, however, as this will cause numerous problems. Not only will it be completely unethical but it will also render your insurance void or invalid, meaning that you may be unable to make a successful claim and you be driving illegally.

Choose your policy

Lastly, as with all insurance products, car insurance will offer you a choice of policies. Fully comprehensive insurance offers you the highest level of protection but will therefore cost the most money. The lowest priced policy is third party fire and theft, although some insurers may offer third party only insurance as well.

Remember that you should always invest in insurance which will give you the cover that you need. Adding an additional named driver could help you to split the cost of your insurance whilst accruing a no claims discount could help you to save money in the future.

Remember that your no claims discount can be taken with you to other insurers and this means you do not have to remain with one insurer year after year.