5 Ways To Reduce Your Car Insurance Premiums

Even with a competitive UK car insurance market bringing down the average cost of car insurance premiums in the UK, by following certain guidelines you can reduce your car insurance premiums even more!

1. Don’t drive an expensive car

One of the major factors influencing the cost of your car insurance premium will be the value of your car. As such, if you want to reduce your car insurance premiums, driving a less expensive car is one of the surest ways you can do this.

2. No claims bonus

If you have a no claims bonus this can seriously reduce the level of car insurance premiums you can expect to pay. Basically, a no claims bonus means that you have not claimed on your car insurance before and staying with the same car insurance provider once you have a no claims bonus can reduce your car insurance premiums by as much as 50-60%! Strange as it may seem, it may even be worth you paying for minor damage to your car yourself, rather than claiming on your insurance and losing your no claims bonus entitlement!

3. Named drivers

Insuring your car without naming who will be the driver of the car is possibly the most expensive way you can insure your car. So, if you want to reduce your car insurance premiums, and have the perfect excuse to tell people why they cannot drive your car, limit the people allowed to drive your car by having a named driver car insurance policy!

4. Where you live

Unfortunately our postal address does have a major influence on our car insurance premiums and these are closely interlinked with the crime rates in that postal address. So, take a good look around your neighborhood and be honest with yourself: what are the chances of my car being stolen? If you think the chances are high, you should either move to a new postal address or buy a cheaper car.

5. Age

Although our age is not something we can control, what we can control is what we do at certain ages. So, if you are under 25, don’t go out and buy the latest sports car. Wait until your mid-life crisis, when you’ll hopefully have years of driving and experience and a no claims bonus, then go out and buy the sports car of your dreams. Chances are you’ll most likely be able to afford it then too!

Finally, the surest way to having life-long cheap car insurance premiums to pay is to drive safely. Don’t drink and drive. Don’t drive fast. Don’t collect driving points and bans. All of these will make finding a car insurance company willing to insure you very difficult indeed. Conversely, if you have none of these, and have driven for a long period of time, especially if you have a no claims bonus, you’ll find that car insurance companies will be falling over themselves to try and get you to take out an insurance policy with them.