With the price of insuring a car now at its highest level since records began, a growing number of motorists are looking for smart ways to reduce their costs.
According to the Association of British Insurers, an average driver will now spend £511 a year on insuring their vehicle, the highest cost since registration began in 2012.
Our inbox has been flooded with letters from readers who have seen their premiums skyrocket, with one seeing a 155pc increase. stated if she would renew with the same insurer.
Another was left with an annual bill of more than £1,200, despite having 50 years of driving under her belt.
Meanwhile, we revealed last week that drivers over the age of 70 are being targeted by insurance companies, with many facing price increases of more than 50 percent when they renew their policies.
Buy a dashcam, take a driving course – and request a discount if you only drive short distances (Stock Image)
However, there are many smart ways to keep costs down. Here are 15 tips to keep your car insurance under control:
HOW TO BEAT YOUR CAR INSURANCE
1 Buy a car tracker. A car tracker is a small device that mounts in the interior and uses satellites to determine the location of your vehicle.
Trackers not only give you extra security, but can also help you save money on your car insurance because they reduce the chance of your car being stolen, damaged or written off, according to comparison website Confused.com. Prices start from £40.
2 Buy coverage before your renewal expires. The closer you get to your renewal date, the more insurers will charge you a new premium. You can take out a new policy up to 29 days before your insurance expires and fix the price for that day.
Comparison site Go.Compare says its customers receive an average of 44 pct. saved by purchasing their car insurance 27 days before the renewal date. You can compare policies at thisismoney.co.uk/car-insurance.
3 Use the correct job title. Insurers consider some jobs to be riskier than others. For example, calling yourself a tree surgeon could cost you more than saying you are a gardener. Try typing in different job titles when looking for quotes on comparison websites to save money.
4 Update your mileage. You may qualify for low mileage car insurance. This is specialist cover for drivers who do not spend much time on the road each year.
If you are retired, own several cars or have a classic car, you can save money with a specialist policy. According to a study published last year by Go.Compare, people who drive 10,000 kilometers per year pay about 8 percent less for their car insurance than those who drive 10,000 kilometers per year.
But be careful. Underestimating your mileage could void your insurance because you will only be covered for the estimate you provided. Any trips outside the country are not insured.
5 Take an advanced driving course. Advanced driving courses such as IAM RoadSmart or Pass Plus could lower your premium, suggests consumer expert Martyn James.
According to Confused.com, taking advanced driving lessons could make your car insurance premium up to 15 percent cheaper. They also help you prevent accidents, thus preserving your no-claim discount. A typical day course costs between £150 and £200.
6 Use your club card. Sainsbury’s and Tesco are offering club card customers a discount of up to 10pc. on their car insurance.
Simply enter your club card number on the website when prompted, or if you are renewing by telephone, mention that you have a club card during the call. Always check the premium against the best prices you can get on comparison websites. . .
7 …and earn reward points. Sainsbury’s customers can earn 4,000 Nectar points when they purchase car insurance directly from Sainsbury’s Bank using the code MOTOR20.
Each Nectar point is worth 0.5 cents and the credit will be added to your Nectar account within 60 days of your policy start date.
8 Enter your driver’s license number. Most insurance companies will ask for your driver’s license number when applying for insurance to verify the information you provide. Sharing this information can reduce the chance of errors, giving you a more accurate quote.
9 Hide your valuables. Cluttered cars attract thieves, says consumer rights expert Scott Dixon.
“Keep your car clean and tidy,” he suggests. ‘Phone cords, briefcases, handbags, navigation holders and paperwork are the most common items drivers leave visible.’
A car theft can increase your premium by hundreds of euros when you renew your premium.
10 Try a dash cam. A dashboard camera is mounted on your windshield and records what happens on the road while you drive. Prices start from £25, but a dashcam can save you hundreds of pounds if you use it to prove that an accident wasn’t your fault.
Some insurers will also give you a discount on your policy if you install one. For example, Adrian Flux customers can save 15 PCs with a dashcam.
11 Take out classic car insurance. If your car is older than 15 years and is worth at least €15,000, you can save money with classic car insurance.
Heritage cars are also often cheaper to insure than new cars because they are driven less often and owners tend to take better care of them.
For example, according to Confused.com, it costs an average of £776 per year to insure a modern car, but £428 to insure a VW Beetle.
12 Add a younger driver. If you are an older driver – typically aged 70 or over – then adding a younger driver to your policy could reduce your premiums, says Mr James.
However, only add someone who will actually drive the car. However, it is often more expensive to insure policyholders aged 21 and under, so adding these policies to your policy is unlikely to save you money.
13 Do not modify your car. Due to adjustments, your vehicle no longer meets the manufacturer’s standards, making insurance more expensive. Upgrading your car’s suspension or wheels can increase your premiums by up to 83pc. increase, which adds around £624 to your insurance costs every year, according to comparison website Uswitch.
14 Check the value of your vehicle. According to the Financial Ombudsman, the number of complaints about car and motorcycle insurance is the highest in five years. Disputes over the value of claims are one of the main reasons, says Dixon.
“Claims are being rejected because motorists wrongly value their cars below or above the actual value,” he says.
Let your insurer know if the value of your car has changed, for example if the make and model of your car has been discontinued, to avoid being underinsured.
15 Choose short-term insurance. Adding certain additional drivers to your policy can be expensive if they don’t use your car often. Term insurance allows you to insure another person for up to 30 days, which can be cheaper than adding him or her as a named driver.
a.cooke@dailymail.co.uk
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