As a new, young or even an experienced car driver, the cost of car insurance can be incredibly high.
As car insurance is at it’s all time high, it’s never been more important to find the cheapest car insurance quote. When looking for the cheapest car insurance quote, there are many ways that you can keeps the quote price to an absolute minimum.Spending a little time researching your options can literally save hundreds of the price you will be quoted. Driving Test Tips offers advice on how to find the cheapest car insurance quote.
CAR INSURANCE COMPARISON SITES
The amount you pay is relative to the insurance company you choose, the level of cover you require and the level of risk to making a claim. Gain quotes from companies that are not part of the comparison sites too as they may have special offers on. Many people get around 3 quotes before deciding. It’s worth getting as many quotes as you possibly can, the difference in savings can be astonishing.
Cheaper car insurance quote by choice of car
Look for insurance quotes before purchasing your car. A car with even a slightly more powerful engine, has any modifications or a car that is deemed high risk due to theft will significantly increase your quote. If the quotes you receive are too high, you may wish to change your choice of car to gain cheaper car insurance quotes.
Cheaper car insurance quote with higher excess
When comparing insurance companies, it may be worth choosing one that allows a high excess to pay in the event of an accident. It’s often not worth making a claim for under £500 as this is likely to increase future premiums and may invalidate your no-claims bonus. So there is little point in paying a high premium for a low excess. The higher the excess you are willing to pay, the cheaper your car insurance premium will be. Although this will save you money, be cautious as in the event of a claim you will need to pay the high excess.
- For a complete guide for insurance excess, see Car Insurance Excess
Cheaper car insurance quote with security devices and parking
Parking your car in a driveway or garage is a significant deterrent to thieves and can produce a cheaper insurance quote of up to 8% Parking in a garage or driveway also reduces the risk of accidental damage to your car. Fitting security devices such as immobilizers or car alarms can also reduce your insurance quote significantly.
Choose the right insurance policy
There are generally 3 types of car insurance;
- Third Party – this policy covers any damage you cause to another person’s vehicle and covers limited medical claims made by your passengers
- Third Party Fire and Theft – is the same cover as Third Party but also covers your vehicle against theft and fire
- Fully Comprehensive – this covers your vehicle in the event of an accident, even if it is your fault. It covers the other person’s vehicle plus any personal injury costs that may occur to yourself.
Other forms of car insurance cover are available which are detailed in the Car advice section; Tips for reducing car insurance. As Third Party offers the least amount of coverage, it would be assumed that this is the cheapest option. That’s not always the case however. The insurance companies believe that those with cheap cars that have Third Party cover are likely to drive more recklessly than those with a more expensive car with Fully Comprehensive insurance. This isn’t always the case, but when looking for the cheapest car insurance quote, ask for both Third Party and Fully Comprehensive.
Cheaper car insurance quote for multiple cars
If there are two or more vehicles in your household, a discount may apply by insuring them all together. Initially get a quote for the cars separately, then a quote to combine two or more vehicles. This can produce a cheap quote by up to 10%
Build your no claims bonus
Building your no claims bonus is an excellent way of obtaining cheaper car insurance. It does of course mean you will need to have your own policy for at least one year before you start to see the benefits. No claims bonus can save up to 75% off your insurance. It is also worth protecting your no claim bonus at a small extra fee.
- For a complete guide for for a no claims bonus and how to build it, see No Claims Bonus
Shop around for new quotes every year
Although it is far easier to stay with the same car insurance provider, when your insurance is coming up for renewal, shop around for new quotes. Many of these companies rely on people staying with them so don’t offer a competitive renewal quote. Even requesting a new quote off the very same insurance provider you are currently with can be cheaper than the renewal quote they offered. Insurance renewal quotes are expensive, shop around
Look for offers
Many insurance companies have special offers to gain new custom. these can range from an introductory no claims discount often for 1 year, to an offer of cash back if you take out a policy. Certain companies offer cash back up to £100. This may appear tempting on the outset, but you may be able to find a cheaper car insurance quote for less, even without any offers.
Reducing your mileage
When you are looking for the cheapest car insurance quote, the provider will ask you what your annual mileage will be. The provider generally divide this into the following categories: 3k, 5k, 8k, 10k, 12k, 15k and 20k. The average is usually between the 10 to 15k. Keeping your annual mileage as low as possible will help to gain a cheaper quote.
Take an advance driving course
Courses such as Pass Plus developed by the DVSA, IAM and RoSPA will improve your driving skills and confidence as they take you into situations that are unlikely during typical driving lessons or on the driving test. Upon completion of these courses many car insurance providers support this by offering a discount.
What makes car insurance go up
There are simple things that can be forgotten that can get you into a lot of trouble or make your insurance quote go through the roof.
We all know it is illegal to use mobile phones whilst driving. The police are constantly cracking down on this and if caught can as much as double your car insurance quote.
Not informing insurance provider of facts
When receiving quotes, it may be tempting to stretch the truth a little or tell a little white lie. This may save you a few pounds off your insurance quote but if you don’t come clean when taking the policy, in the event of an accident your policy may become invalid.
A few simple little changes to your car such as the wheels for example can in the insurers eyes, make the vehicle more desirable to thieves. This can increase the quote price or increase your policy fee if you already have one. If you are planning to make any modifications to your vehicle, contact your insurer initially before doing so and ask to be advised of any payment increase in your policy.
Paying car insurance monthly
When you decide on your ideal insurance policy, it is often more convenient and affordable to pay monthly. What the insurance provider don’t often make clear is how much more this will cost you. Certain car insurance providers charge over 35% APR for this privilege. If you have no option but to pay monthly, ask the provider you are receiving a quote from what their APR is. If it is high, then it may not be the best quote you have received after all.