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Let’s face it, we are all facing the pinch at the minute. The cost of living is rising much quicker than most people’s wages. This has caused a lot of anxiety for many households and left people looking for ways to save money. One area in which many are hoping to do this is through their car insurance. And so, below are some helpful tips that could help the amount you pay. If possible, pay annually, not monthly This may not always be possible and as money may be tight, the thought of a larger payment may go against all you are trying to do at the moment. But paying annually rather than monthly is the cheaper option in the long run. When we pay monthly for car insurance, we are loaning the money for the year and so interest then needs to be paid on this loan. This is why paying once a year is always the cheaper option. Review what is included in the policy options Sometimes a cheaper option may be all we need. We may feel we should have the very best cover or that we need to be covered for every eventuality. But often, when reviewing these policies, it can be that unnecessary things have been added on that we are then paying for. Find a policy that covers all you need but only that, don’t be paying for the extras you don’t even need. Or it could be that you can find a good deal on your car insurance and then add some necessary policy extras for cheaper than buying one that covers all your needs but also includes the unnecessary parts you don’t want to pay for. An example of an unnecessary add-on could be a courtesy car cover. If you own a second vehicle or have access to one you could use temporarily in the case of damage to your car, then this would be unnecessary for you. Park in safety A bit of an obvious one, but one of the top car insurance tips! The more secure your car is overnight, the cheaper your car insurance. A driveway is better than on-road parking. A garage is better again. Having your vehicle off the road keeps the car much safer from potential damage and your policy will reflect this. The early bird catches the best deal As a policy is ending you will generally have a window of a few weeks to renew your car insurance. The earlier you secure a deal, the cheaper it will be. This also means the opposite is true. The longer you leave it, the more you will pay. Within that few weeks the price can change by quite a lot so securing your policy earlier could save you a good deal of money. Do you need those modifications? This is a touchy subject for some. If you answer yes, then move to the next tip. But the fact remains that modifications cost more than the money to buy them or have them fitted. They also increase your car insurance, sometimes by a great deal depending on what modifications you choose to go for. This is because your car is more likely to be targeted by thieves when it has been modified. On top of that, it is also likely to be more expensive to be repaired. All of this means expensive car insurance. Go for a smaller engine Again, not a tip that everyone wants to hear but it is a good way of saving money on your insurance. A smaller car and/or a smaller engine will bring the cost of your insurance down. While this is true, still do your research before buying your vehicle. Different companies will also be taking different factors into account and so you may not have to go as small as you think with some insurers compared to others. Do all you can to make your car secure Ok, so we’ve already talked about using a driveway or a garage to reduce your car insurance payments but there is more we can do to make it secure, especially when it isn’t parked at home on our property. Having immobilizers, locking wheel nuts or even alarms installed would all be viewed positively by an insurance company. This, however, all costs money in itself so before getting any of this done, be sure to call around insurance companies and see what difference to the cost this could make and then decide if it is worth it for you to do. Cut down on unnecessary journeys With current gas prices, this is something we are all trying to do anyway. But the fewer miles you travel in your vehicle, the less risk you are to insurers, and your policy should reflect this. A word of caution though: Do not give a false estimate of your mileage in a bid to reduce your bill. If found out, you could invalidate your whole insurance, leaving you vulnerable to paying out more money, as well as other problems. Be willing to pay more excess This is a tough one. It is a way to save money on your car insurance, granted. But if you do end up in an accident or with damage to your car some other way, you will end up with more to pay, not less. So, while this one is on here, it is for you to think carefully about and way up which one you think is a bigger benefit or bigger risk. Think about what cover you really need You will need more extensive cover the newer your car is. If you have an older car, you may opt to get a cheaper option that does not cover as much but would save you a lot of money. Driving courses can help These are particularly effective for young or new drivers who will usually face higher insurance costs, no matter how many of the above tips they commit to, purely because of their youth or inexperience. With some insurers, a course won’t make any difference, they will still view you as too high a risk due to the factors just mentioned. But for others, it could go a way in reducing your insurance cover if you take a course.

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