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Tips on Reducing Your Car Insurance

Car with tree on bonnet
Photo by Michael Jin on Unsplash

The blog this week is about giving you some tips on reducing your car insurance. There has been lots in the press lately about the costs of car insurance skyrocketing. Everyone is trying to save money at the moment, interest rates are rising, fuel bills are rising, food costs are soaring etc so when it comes to owning a car, we need all the help we can get to keep costs down. Read on to find out more:

Shop Around

With the emergence of price comparison sites, it is very easy and quick to get plenty of quotes very quickly. You no longer have to sit on the phone calling insurance company after insurance company repeating yourself. Set a reminder a few weeks before your renewal date and set some time aside to compare your renewal quotes. Don’t miss this opportunity to save yourself some money. Gone are the days where your current insurance company shows you loyalty as a renewing customer. Make sure that you are comparing like for like in order to make the right decision on which company to go for.

Get Your Annual Mileage Right

 It goes without saying, the less miles you drive the less chance you have of having an accident. Make sure that you put the correct annual mileage down when they ask you how many miles you expect to drive over the year.

Pay Upfront For Your Insurance  

If you pay for your insurance monthly there will be an interest charge added to the cost. This cost will normally be around 5%. It could be pretty insignificant if your insurance premium is only a few hundred pounds but as a young driver or someone driving a car in a higher insurance category this could end up being quite significant. So, if you have the money to do so make the payment in full. It also goes without saying – if you are in the market for a new car or a new second hand car do your due diligence before purchase and shop around to see how much the insurance will be for you. We have heard of plenty of people who find themselves in a situation where the insurance is more than the car is worth, or they simply cannot afford the insurance along with a car payment.

Consider a Smaller Engine

If you’re buying your first car or looking to make a new purchase, we recommend you buy a car with a smaller engine. Trading in a car with a bigger engine for one with a smaller engine will not only hopefully reduce your insurance costs, it will also save you money on your monthly fuel costs. Do be mindful that if you are using your vehicle in the ULEZ zone that it is compliant, so you do not saddle yourself with that cost

Adding Another Named Driver To The Vehicle

If you’re a young inexperienced driver you are deemed a higher risk client, therefore your insurance premiums will reflect this. If, however you add a more experienced driver to the insurance policy, such as a parent. It is worth noting that if the named driver on your policy is unfortunate enough to have an accident whilst using your vehicle that will affect YOUR no claims bonus if you have accrued any. You should also ensure that they are just a named driver and NOT the main driver as this is fraud. You will find yourself being prosecuted and finding it very difficult to obtain car insurance in the future.

Black Box

A lot of insurance companies will now expect a new or young driver to have a black box (monitoring device) fitted to the car so that they can monitor driving habits such as speed, mileage, location, time of driving, braking etc. You do not have to drive with this device, there will be insurance companies that will insure you, but the insurance premium will be much higher. This device is not just for 1st year drivers, they can be used in subsequent years thereafter. It is worth noting that if the insurance company is not happy about any aspect of your driving, they can revoke your insurance or increase your premiums. Happy Safe Motoring Folks!

Here at ACC UK Ltd, Winners of The Motor Trader Independent Garage of The Year 2015, 2019 & 2020, The IGA Big Awards 2022, The Inspire Customer Service Excellence 2016 Award, The Eagle Radio Customer Focus 2017 Business Award, The Workshop Magazine Workshop Manager of the Year 2017 Award, The LiveWire Excellence In Vehicle Servicing 2019 Award and The Aftermarket Excellence Award for Best Website 2019, The Eagle Radio Biz Award – Entrepreneur of the Year 2020 & the SME News Magazine Most Trusted Car Servicing Provider 2020, we pride ourselves on offering an outstanding customer experience for a fraction of the cost of a dealership. Give us a call and let us quote you for your next service or repair on your Volvo or Toyota. We service all areas around Farnborough, Fleet, Aldershot, Farnham, Guildford, Frimley, Camberley, Hook, Sandhurst, Crowthorne, Yateley, Hampshire and Surrey. We offer free collection and drop off services. We also have a fleet of courtesy cars to allow you to get on with your schedule whilst your Volvo or Toyota is with us. Happy Motoring from all at ACC UK Ltd – Independent Volvo & Toyota servicing, repair and MOT specialists based in the heart of Farnborough, Hampshire.