Between the increase in fuel prices and a recent boom in the second-hand car market, owning and operating a vehicle is getting expensive. This is why looking for ways to keep costs is important. One of the areas where you can save money is with your car insurance. There are several ways that you can reduce the cost of your car insurance policy, let’s take a look.

Research Before You Purchase a Vehicle

Obviously, some cars are more expensive to insure than others. So, before you purchase a vehicle, you should bear that in mind. There are a number of factors which go into determining the grouping that a vehicle is given, such as the cost of the car, the cost and timeframe of repairs, its performance and the safety and security ratings. Quotezone.co.uk provides car insurance quotes by classification and model; for example, you can check out Peugeot 107 insurance or 4×4 motoring insurance.

Secure the Car

Taking steps to make your vehicle more secure and, therefore, harder to steal can help to reduce the cost of your premiums. Parking your car on your driveway or in a garage as opposed to the street means that it is more secure. You could also check with your insurer to find out whether they have a list of approved security devices that they offer a discount for and have them fitted to your vehicle.

Estimate Mileage Accurately

When purchasing car insurance, you will be asked to provide an estimate of your annual mileage. It is important that you are accurate. Higher mileage drives the price up, so if you overestimate, your policy will be more expensive than it needs to be. However, if you underestimate and go over, this could invalidate your policy.

Additional Safety Measures

Some insurers offer discounts to new drivers that have taken the pass plus scheme or drivers who have advanced driving qualifications. This is because it speaks directly to how you drive and your safety on the roads. New drivers will likely also get a discount if they agree to a telematics policy and have a ‘black box’ installed on their vehicle. The box tracks your performance when driving and can lead to further discounts when you renew.

Adding a Named Driver

You could also choose to add a second named driver; ideally, the second driver should be more experienced with no driving convictions or points on their licence in order to reduce the premium. Conversely, adding a newly passed driver to an existing policy will increase the premium.

Pay Annually

Choosing to pay for your car insurance annually as opposed to monthly can also save you money. This is because when you pay monthly,interest is added to every payment, which drives up the overall price of the premium. Unfortunately, not everyone will be able to afford to pay for their car insurance in one go, but if you can, you should because it can save you a lot of money over the course of the year.

In Conclusion

There are a few ways that you can save money on your car insurance policy. Admittedly, most of the techniques listed above should be common sense. In today’s economy saving money where you can is really important, so be sure to bear in mind the above list when your policy comes up for renewal.