We all know how important it is to have car insurance. Knowing you’re financially protected in the event of an accident can bring peace of mind. However, not everyone knows how to save money on car insurance.
Don’t worry, below, you will find a few tips that can help you to save money with ease.
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Shop Around
Please don’t make the mistake of opting for the first car insurance premium you find. Shopping around and comparing car insurance quotes can make a difference. You should, however, understand that sometimes the best insurance for you might not be the cheapest. If you’re happy to pay a little more to have good cover, it can be worth it.
Let An Insurance Broker Help You
One of the easiest ways to save money on car insurance is by letting an insurance broker help you. Insurance brokers are there to make life easier. All that you need to do is tell them what type of car you have, how old it is, and a few other details. Once they have the information they need, the broker can search for you.
Some insurance brokers may even be able to find quotes that you could have missed. This is why it’s always worth considering using an insurance broker.
Consider Whether You Need Optional Extras
Think about whether you really need optional extras. Remember, all of these extras will cost you more money.
It would be nice for you to have a courtesy car if you can’t use your own car. However, adding this to your insurance premium can be expensive.
Find out how much you would have to pay for those optional extras such as windscreen cover, legal cover, and more. Chances are they could cost more than you think.
Pay Per Year Rather Than Per Month
If you can afford to, pay per year rather than on a monthly basis. It’s likely that paying annually will be cheaper. If you choose to pay per month your insurer will ultimately be lending you the money to pay for your premium. Therefore, they will add interest to the loan so they can make some money.
Not a lot of people are aware of this and choose to pay per month instead. Pay annually if you can as you could save a lot.
Increase The Excess
The excess is the amount of money you will pay for making a claim. The higher the excess is, the lower your premium is likely to be. If you can, increase the excess even if it’s just by £10 or £20.
When you’re hunting for car insurance be sure to note how much the excess is. Some car insurance providers will ask for more than others. Just make sure you can afford to pay any additional excess. It is entirely possible for you to save money on car insurance. Use the above tips to help you so that your new insurance premium does not break the bank.
