How to Lower Your Car Insurance Cost

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The following is a guest post. Enjoy! 

How to Lower Your Car Insurance Cost

That time of the year where you have to find the best deal for your car insurance seems to come around remarkably quickly. It can be a time of worry, especially as insurance costs continue to rise year after year.
However, assuming all went well the previous year and you did not have to make a claim, you should see your premium go down, or you will at least be able to find a cheaper quote elsewhere, what with the extra 12 months of no-claims.
Here are some tips on how you can lower the cost of your premium:

Don’t accept your renewal quote

Every year, about a month or two before your renewal is due, your current provider will send you a quote to stay with them for another year. This is rarely the best possible deal the company can offer, and they are really hoping that the customer decides to avoid any hassle and leave it to renew automatically.
At the very least, you should phone them and haggle for a better deal, but ideally you should look around for a cheaper quote elsewhere.

Can you afford more excess?

One of the best ways to save a lot on your car insurance is by adding voluntary excess (deductible) to your quote. In almost every case, adding an excess amount (deductible), which is an amount you will have to pay when making a claim, reduces the overall premium.
However, it is important to make sure you can actually pay the excess amount/deductible, or you could be in trouble should it come to making a claim. That said, some insurance companies offer excess insurance, which for a small cost, will cover your excess up to the amount you specify.

Do you need comprehensive insurance?

If your premium or excess amounts are high, it might be worth considering whether you need your insurance to be comprehensive.
This is particularly relevant if you drive a car with little resale value; if your premium or even excess is more than your car is worth, it might be better to get third party or fire and theft insurance. Although not as cheap as it once was, you can still find a good third party insurance deal.

Remove European cover or breakdown cover if you don’t need it

It is important to check all the details of the quote you have been given. Some quotes automatically include European cover for X amount of days or breakdown cover. If you don’t need these but they have been included, give the company a call and bring down the price.

How about you all? What ways have you been able to save money on car insurance in the past? When it comes time to renew your policy, do you search around for other quotes, or simply take the one given? 

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/beadmobile/3365854417/sizes/l/in/photostream/

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