With rising domestic expenditure here in the UK including such things as higher mortgage repayments and property rental, bigger gas and electricity bills and greater amounts being spent on food bills not to mention the fact that, on average, the cost of car insurance has been increasing anything that can be done to lower the amount you are paying to cover your car has got to be welcomed. So, what can you do in this respect?
Review your premiums
When your existing cover is coming up for renewal why not shop around to see if you can get the cover cheaper elsewhere. One way of doing this is to use a price comparison website.
Mileage
Howe many miles per annum do you travel in the car? A good way of checking this is on your MOT certificate. Compare this with the amount of miles you have told the insurance company you estimate you will do each year. If it is lower than the estimate provided notify them and this may result in lower premiums. If you do more miles than estimated then also notify your insurer.
Changing Cars
If you are considering changing your vehicle then you might wish to check what cars come under lower insurance groups as this may also save you some money on your motor insurance premiums.
Optional Extras
When you arranged your cover you may have included a number of optional extras such as loss of keys cover, legal cover, breakdown cover, protected no claims discount and you may have decided not to include a voluntary excess. Obviously it has to be your decision as to whether you remove one or more of those optional extras and add in a voluntary excess to lower your premiums as those optional extras could prove beneficial should you need to claim on one of them.
Type of cover
Do you have the correct level of cover i.e. you may have cover for social, domestic, pleasure including commuting and class 1 business use as you used to travel to more than one place of work in your car but now only work out of one office. If this is the case then you are likely to only need cover for social, domestic, pleasure and commuting that may lead to a reduction in premiums.
Additional drivers
You may have cover for not only yourself to drive your car but say any other driver over the age of 25. Do you still need to insure so many potential drivers or is it just say yourself and your spouse who drive the car? If so then you could consider changing the policy accordingly and may see a reduction in your premiums.
