5 Proven Ways to Get Cheaper Car Insurance

New drivers are often surprised at just how expensive car insurance can be. However with a little

“insider” knowledge it’s possible to save a lot of money. Even better, you won’t even have to reduce

your level of cover in order to save money on your car insurance policy.

Read on to uncover some of the most effective strategies for getting the cheapest car insurance

possible.

Invest In Excess Insurance

Possibly the easiest way to start saving money on your car insurance is by insuring your excess. It

sounds odd, so let me explain a little further. In essence, a car insurance policy typically consists of

two parts; the excess that you pay in the case of a claim, and the main insurance premium. So, for

example, you might agree to pay the first £100 of any claim, and then receive a small discount on

the cost of your car insurance policy.

It goes without saying that the larger the excess you opt for, the cheaper your insurance policy will

be. This is because the insurance company is at less risk of having to pay out in the case of an

accident.

The problem for most people is that agreeing to a £400 car insurance excess (for example) is a risk. If

an accident happens, they may have to find anything up to £400 for emergency repairs before their

insurance policy actually starts paying out at all. That’s clearly quite a lot of money.

Excess insurance is the “magic” that makes all this possible, and allows you to save money on your

car insurance without worrying about the cost of your excess. In essence you simply select a car

insurance policy with a large excess, then use a company like PayMyExcess.com to actually insure

your excess.

In this way your financial risk isn’t equivalent to the value of your excess but is in fact far lower. The

reason is that if you need to make a claim, and hence need to pay some or all of your excess, your

excess insurance kicks in, helping to cover the cost for you.

Do the maths of selecting a much higher excess – and then insuring this for a small monthly sum –

and you’ll often be able to get top-rate car insurance for much less than other drivers are paying.

Drive Shorter Distances

One key factor that car insurance firms look at when deciding on the cost of insuring you is just how

far you drive each year. For obvious reasons, the further you drive, the more risk you’re exposed to.

In contrast, drivers who only travel a minimal distance each year are typically the safest drivers -

simply because they’re on the road less, and therefore are less likely to be involved in an accident.

While driving less won’t be an option for everyone, some people have discovered that by driving

shorter distances and either car sharing or taking public transport, they can actually save a

considerable amount of money on their car insurance each year. It just depends really on whether

this financial saving is worth the trouble of finding other means of getting around.

Maintain Your No Claims Discount

The longer it is since you last made an insurance claim the lower your premiums will be typically.

After all, it makes sense for car insurance companies to reward safer drivers that don’t make claims,

while ensuring that more dangerous or accident-prone drivers are paying into the pot to cover the

costs of repair in the case of an accident.

Increasingly though car insurance providers are giving opportunities to actually insure your no claim

discount. In this way, if you’re involved in an accident that isn’t your fault, you won’t lose your no

claims discount the next time you need to renew your policy.

Be aware that not all insurance companies offer this, so you’d be well advised to shop around before

signing up for your next policy to ensure that you select a provider that rewards careful drivers like

you.

Drive a Smaller Car

Bigger, more powerful cars are allegedly more likely to be involved in an accident; especially if

they’re driven by a younger or less experienced driver. The moral of the story is this: don’t buy a

more powerful car than you really need or you’ll probably end up paying a premium for it.

Instead, try to figure out what the smallest car you need is and buy that one. Not only are smaller

cars generally more fuel efficient and easier to park, you’ll also probably find that your insurance

quotes drop in line with your new smaller engine size.

Increase Your Motoring Experience

While we all have to pass a basic driving test in order to be allowed to drive legally in the UK, there

are further advanced driving courses one can take afterwards. The aim of these courses is to

improve and develop your driving skills, especially in riskier or more dangerous environments like

driving at night or in towns and cities.

However while such courses will cost you extra money, they can prove to be a worthy investment.

The reason is that many car insurance companies offer additional discounts for people possessing an

advanced driving qualification. All those savings for years to come can rapidly make taking one of

these courses well worthwhile.