You hear folk grumble about fuel prices and moan about parking, yet nothing stings quite like that renewal email from your insurer. You know the feeling: you’ve done nowt wrong, your motor’s barely left the driveway, and still they expect you to fork out more.
It doesn’t have to be that way, mind.
Shop around and compare deals
If you renew without checking elsewhere, you’re handing money to insurers on a plate. Loyalty counts for nothing in this game. Use comparison sites as a starting point, but don’t be afraid to try different insurers directly.
Some firms hold back their better offers for those who pick up the phone or go straight to their website. If you’ve seen a cheaper quote, say so. You’ll be surprised how quickly they find a ‘special discount’ that wasn’t on the screen five minutes ago.
Choose your car wisely
A flashy motor costs more than just the fuel and tyres. Insurers look at repair costs, theft rates and engine size. That little hot hatch with alloys and tinted glass might look the part, but insurers see it as a magnet for thieves and joyriders.
A modest hatchback in a lower insurance group should cost you far less to cover, even if it doesn’t turn heads. You’ll keep money in your pocket for something more useful than funding your insurer’s Christmas party.
Build your no-claims bonus
Each claim-free year knocks a chunk off your premium. Protect it like it’s gold. Even a small bump can set you back years, so drive carefully, and think carefully before claiming for minor dings.
Over time, you’ll have a record that proves you’re less bother to cover, and they’ll charge you less for it. And the discounts will only grow year after year without claiming.
Consider telematics insurance
Insurers love data. If you’re a steady driver, let them track it with a telematics insurance policy. A little black box or app records when and how you drive. Stick to mostly daytime trips, avoid heavy braking and speeding, and you’ll often pay less.
A young driver who does short journeys to college in daylight hours can save hundreds compared to the standard policy. If you’re out at midnight speeding through back roads, though, don’t expect a bargain.
Increase your voluntary excess
You can bring your premium down by agreeing to pay more if you make a claim. But don’t be daft about it. Only set an excess you can genuinely afford.
If you’re struggling to scrape together £250 for a repair, don’t promise the same amount just to shave off a tenner on your policy. Done sensibly, though, it tells the insurer you’re not the type to claim for everything and anything, and they’ll reward you with lower monthly costs.
There’s no magic trick to slashing premiums overnight. But with a bit of effort and common sense, you can keep more of your brass where it belongs: in your own wallet.
