The cost of driving is already high without the extra cost of car insurance. But, you can’t drive without it because it is a legal requirement. And, it will come in handy if and when you do have a car accident that wasn’t your fault. Still, that doesn’t mean that you have to pay over the odds for your policy. In fact, you can dramatically lower the cost of your premiums with a little bit of insider knowledge. If you’re looking for a cheaper policy, try the tips below.
Compare The Market
The best tactic is to shop around for the best deal. Thanks to the internet, it is a lot easier to do is 2016 than before. All you have to do is go to a comparison website and provide them your details. The site will do hard work and come back with the best offers. There isn’t a quicker or easier way to shop around for insurance than with a comparison website. And, they are all pretty good, so you can’t go wrong.
Try Comprehensive Cover
People with low budgets will go for the no-frills options, such as third party and third party fire and theft. Although you would think they are the cheapest options, it isn’t always the case. Sometimes, the comprehensive cover is the cheapest option on the market. The reason this is worth considering is that most people don’t consider all the options. They assume that the broadest policy is expensive, and they go with what they think is cheap. Whatever you do, don’t dismiss any option without check the price first.
Increase Your Excess
Think of this as hedging your bets. When you take out the policy, you can increase your excess for if you do crash. Then, the money you pay is higher if there is an accident. But, your monthly premiums become a lot lower if there isn’t an accident. All you have to do is makes sure you don’t crash, which is tricky. However, if you are willing to take the risk, it is a much cheaper option. On the face of it, the excess won’t cost as much as the extra monthly payments. So, as long as you don’t crash too often, you will still save money.
There are extras that you might want to add to make your cover as comprehensive as possible. For those of you that don’t have the money, you can’t afford these extras. Insurance companies love to add these to a policy because they make them a killing. And, the sad thing is that they hardly come into use. They are there as a backup plan, a backup plan that is costing you money. The most basic cover is the cheapest cover in most cases.
Don’t Pay Monthly
It seems like a big sum to pay in one go, but it is the cheapest option. If you pay by direct debit, the price will increase as they will add interest costs to the amount. Spreading it out over the course of a year sounds more affordable, but it is more expensive. However, you should only do it if you have the money to pay upfront.
As you can see, you don’t have to bother paying over the top for car insurance anymore.