Let’s face it: everything is getting more expensive these days, and who doesn’t like to save a little money when they can? Car insurance is no exception. If there’s a way to make it cheaper, you can bet we’re all in.
Good news: shopping around for car insurance can save you a pretty penny. In fact, data from Compare the Market shows that 51% of people save money just by comparing quotes. Not bad, right?
But don’t stop there. While you’re at it, here are some tried-and-true tips to keep your premiums in check.
1. Choose a car with cheaper insurance
Having your eye on a fancy car with a big engine? Sure, it’s tempting, but be warned: these cars cost more to insure.
If saving money is your goal, smaller, less powerful models are your best bet. They’re cheaper to run and easier on your wallet when it comes to insurance.
2. Always shop around
Never assume that the most basic policy is the cheapest. Third-party insurance may seem like a bargain, but that’s not always the case.
Take the time to compare all your options — third-party, third-party fire and theft, and fully comprehensive. Sometimes a more comprehensive policy ends up being a better deal.
3. Drive less, pay less
It’s simple math: the fewer miles you drive, the lower your chances of an accident. That’s why insurers look at your annual mileage when setting your premium. Be realistic when estimating your mileage — lying could void your policy if something goes wrong.
If you can, pay your insurance in one lump sum. Monthly payments may seem convenient, but they often come with interest, meaning you’ll end up paying more overall.
4. Increase your excess (but be careful)
Increasing your voluntary excess — the amount you agree to pay if you make a claim — can lower your premium. Just make sure you have the cash to cover it if you need to use it.
Some add-ons sound great on paper, like a windshield wiper or a courtesy car, but they can actually increase your premium. Take a moment to figure out what you really need. If it’s not essential, don’t pay for it.
5. Think twice about modifications in your car
Planning to spruce up your car? Remember that modifications can make your car more attractive to thieves or more expensive to repair. Insurance companies don’t like either of these things and will likely reflect that in your premium.
6. Park smartly
Where you park your car at night can make a difference. Parking in a well-lit area or, better yet, off the street (like your garage) can lower your premium.
Surprisingly, garages don’t always mean cheaper insurance — some insurers worry about the risk of scratches and bumps in tight spaces.
Adding an alarm or immobilizer can shave some money off your premium. Just check with your insurer first to make sure it’s worth the investment.Black box insurance isn’t just for teens anymore. These policies track your driving habits, and if you’re a safe driver, you’ll likely see some savings.
7. Prepaid car insurance
If your car spends more time parked than on the road, prepaid insurance can be a game-changer. These policies charge based on how much you drive — perfect for occasional drivers.
When purchasing insurance, really identify your needs. For example, if you need to leave your car on the street, make that clear. The same goes for young people under 25, who pay more for insurance. If your car is really used by this type of person, consider the extra.
Lying about how much you use it is fraud and is punishable by fines and, in more serious cases, even an arrest warrant. If you lie during this process, if you need to recover the money, the insurance company may refuse access.
8. Add a more experienced driver in your car insurance
If you’re a new driver, adding someone with more experience to your policy (like a parent or partner) can help keep costs down. Be honest about who the main driver is — fudging the details is considered fraud.
Have more than one car in the household? Bundling them together on one policy often gets you discounts. It’s worth checking out.
9. Get a no-claims discount
One of the best ways to save on car insurance is to not make a claim. Over time, you’ll earn discounts that can make a big difference.
If you’re involved in a minor accident, it may even be cheaper to cover the repairs yourself than risk losing your no-claims bonus.
Speeding tickets and penalty points aren’t just bad for your license, they’ll also make your insurance more expensive. Follow the rules of the road, and your premiums will thank you.
10. Get creative with your job title
Did you know that your job title affects your premium? Some job descriptions come with cheaper rates.
For example, calling yourself a “freelance writer” instead of a “journalist” can save you money. Just make sure whatever you choose is accurate, or you risk your policy being invalidated.
11. Buy add-ons separately
Sometimes it’s cheaper to buy extras, like breakdown cover, as stand-alone policies rather than adding them to your car insurance. Do the math and see what works best for you.
Insurers are counting on you to automatically renew without checking the market. Don’t fall for this. Shop around before your renewal date — you may find a much better deal elsewhere.
Conclusion on Car Insurance
Saving on car insurance doesn’t have to be complicated. A little effort and smart choices can go a long way toward keeping your costs down. And let’s be honest—who doesn’t love a win like that?
