Sometimes, you might look at your car insurance premiums and quickly understand probable reasons why they seem relatively high. For instance, your car might be a particularly expensive model; furthermore, your local area might be a car crime hotspot.
However, insurers can use rather elaborate tricks to judge how much they should charge in premiums. These tactics include working out the star signs members of which have recently had the most accidents and which professions are most directly responsible for accidents.
Fortunately, you can still be rather clever yourself with your approach to taking out car insurance. Here are some steps that you can take to help relieve the financial burden.
Be careful what job title you specify
It’s vital that, when specifying your job as you apply for insurance, you don’t knowingly misrepresent it; otherwise, your cover could be invalidated. Nonetheless, by choosing your words meticulously, you can make surprisingly decent savings on your insurance premiums.
Mirror observes the difference of £98 more if you call yourself a “chef” rather than “kitchen staff”. Similarly, the necessary outlay is £86 higher for “music teachers” than it is for “teachers”.
Put another – but only one – experienced driver on the policy
If you know an experienced driver whose driving license is clean and no-claims history is decent, don’t say that they are your car’s primary driver when they aren’t – this would be illegal.
You can, however, still add them as a secondary driver on the policy. This is legal and potentially money-saving, though remember to first seek their permission. Also, don’t add yet another driver, as this could increase the policy’s overall cost, The Telegraph implies.
Don’t leave it late to take out a policy
It wouldn’t be a good idea to start looking for car insurance just days before you know you will need it. Instead, do so three weeks ahead of time.
The same advice about advance preparation applies if your renewal date is coming up and there is a better deal to switch to, as your saving could be £280 on average. You might be able to save even more than this if you are relatively young.
Reject unnecessary extras and up your excess
You might look at a car insurance quote and be deterred by the price… only to realise that the coverage extends further than you really need. For instance, it could cover driving abroad, something you never do – or account for a courtesy car you don’t have.
Besides, many of the extras may be covered by your home or travel insurance – or even your AA membership or bank account. It can really pay to scrutinise the small print.
Opt for a “blackbox policy”
It can be frustrating if you know you drive safely, but your premiums don’t always reflect this. How can you prove that you are definitely a safe driver? Simple: by taking what, colloquially, is called a blackbox policy, though referred to more technically as a telematics policy.
With this policy, a telematics system would be installed in the vehicle and can then monitor how safely you drive. Drive with care, and your premiums could substantially fall before too long.
Keep that no-claims bonus
If your policy has a no-claims bonus, then do what you can to protect it – the savings are so significant that it’s worth going to great lengths to keep them.
Nonetheless, what exactly will impact that bonus can depend on the policy. If you are involved in an accident that another driver has caused, your bonus will not usually be lost. However, it could be a different situation if you cause the accident, cautions This is MONEY.co.uk.
Let a broker help you find the right insurance
Visiting the websites of different insurers to check out the quotes between them can be time-consuming; however, the responsibility of comparing quotes can be handed over to an insurance broker.
It could take them only a few minutes to look at different policies before coming back to you with a quote for the policy that, from that choice, would best meet your overall requirements. You could contact the broker Call Wiser online or by phone to get the ball rolling.