Ever since the beginning of the recession, times have been tough for car-owners. Insurance can become extortionately expensive and if you want or need to own a car, there’s not a lot you can do to bring the price down. However, we’ve come up with a few handy hints and tips on how to reduce the cost, even by just a little, to your insurance. As they say, ‘look after the pennies and the pounds will look after themselves’, so here’s a few ways to control the outgoing of a few of those pennies!
Insure multiple drivers: It can often become silly, the way many communities and families have one five-seat car for each person. So why not share the insurance to a vehicle? The truth is, many insurance companies measure the cost of insurance by the bulk amount, so the more drivers who share in your vehicle’s insurance, the more likely the insurers are to bring down the cost. Your insurance-sharing friends usually must be related by blood or marriage, but this isn’t always the case. The best thing to do is to ask for a quote from your insurer and compare using a website like Compare the Market with other firms and other deals – you’ll see the difference in cost.
Keep off the roads: When you’re not driving your car, make sure you keep it extra safe. Many insurers will lower the cost of your insurance if they are assured that your car is safer than most. And the best way to keep your car safe is to keep it in a garage. Whether it’s attached to your house or in a separate complex, insurers will generally charge less if they know that your car is safe behind lock and key. Our lock-up garages are perfect for storing a car off-road; click here to browse your options.
Buy a sensible car: If you’re looking to purchase a car, it’s worth remembering to go for quality over fancy gizmo’s. There are plenty of older cars that are still in perfect working condition, and even though they are not as glamorous as the latest models, they are excellent vehicles. Not only will the initial cost of the car be considerably cheaper, the insurance will be too. Insurers are more likely to charge for newer, more expensive cars, as they have a higher risk of being stolen. We’re not suggesting you buy an old banger, but why not go for a slightly older model? There’s no need to compromise on quality, as there are many cars that are only a few years old that will considerably cut the cost of your insurance.
We hope these tips have been useful in helping you cut down the cost of your insurance. For more visit MoneySavingExpert who will give you even more helpful advice! It’s important to try and cut down costs wherever you can, and by starting with insurance, you can ensure those pounds slowly stack up!