Owning a car is not cheap. Once you’ve considered the price of the vehicle, ongoing fuel costs and upkeep, you still have to pay for your insurance coverage each year. Driving without insurance is illegal, and as we see higher numbers of vehicles on the road, car insurance costs are rising all the time.

But this doesn’t mean you should be paying over the odds for your coverage. If you are buying a new car or taking out a renewal on your current vehicle, there are several steps you can take to bring down the cost of your insurance.

1. Do your research

It’s always a good idea to shop around to find the best car insurance quote. If you are renewing, don’t just accept your insurer’s renewal quote straight away. There may be better value options out there.

2. Be accurate

When obtaining a quote, make sure you fill out your details as accurately as possible. This will ensure that you get the policy most suited to your needs. For example, if you only use your car for personal use, you won’t need an insurance policy that covers you for commuting. If you have varying professional responsibilities, try tweaking your job title to find one that brings your costs down. Just make sure you do not provide any false information.

3. Make a single payment

Most insurance providers give you a choice to pay your insurance in either monthly instalments or one upfront lump sum. Paying everything in one go almost always works out cheaper so if you have the money in the bank to do so, this is a sensible move.

4. Consider extras carefully

Do you need courtesy car cover, legal cover or windscreen cover? Often these extras come as part of the deal, but sometimes they are optional add-ons that come with an additional fee. Consider whether you really need these extras or if you could do without.

5. Increase your excess

The voluntary excess is the amount of money you agree to pay when making an insurance claim. By increasing the excess, you will reduce the cost of your insurance premium. Just make sure you pick a number that you will be able to afford if you do end making a claim.

6. Add multiple drivers

Adding a named driver to your policy who is older and more experienced will bring down the cost of your insurance. A parent or older relative usually works well. 

7. Get a black box

Telematics, otherwise known as a black box, monitors your driving habits, allowing your insurer to raise or lower your premiums accordingly. The better you drive, the more money you can save on insurance.

8. Keep your car secure

Getting a car with security features fitted such as alarms and immobilisers can lower your insurance premium, as they make it less likely to be stolen.

9. Drive carefully

Having points on your license presents you as a bigger risk to insurers, and the cost of your insurance will reflect this. By driving carefully, you can ensure a more budget-friendly policy when it is time for renewal.

10. Build up your no-claims discount

For every year in which you don’t make an insurance claim, you build up your no-claims discount. The more years you go without claiming, the more you stand to save.

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