Despite being a high cost activity, there are still some ways to make savings on motoring. More and more people compare motor insurance quotes before they renew their policies and this is having a positive effect on the cost of insurance for many drivers. With the insurance market being highly competitive, insurers are keen to attract and retain new business. Whether it is your renewal date or not it is always worth comparing different quotes to see what savings you can make. Over 20% of people will change providers at renewal, which just goes to show how competitive this market remains.
Double benefit savings
Estimating mileage as accurately is possible is important. You can save a reasonable amount by cutting the amount of miles you drive each year – but be realistic about this. Two major ways to cut your mileage are cutting out either the daily commute or the school run. Don’t break out in a sweat at the thought of either until you have considered your options. Car sharing is an increasingly popular way of commuting and might be an option for you. A walk to school and back for you and the kids has surprising health benefits. Walking is a moderate level exercise, around 30 minutes a day is recommended by health professionals as an aid to health and weight loss. It may be a shock to the system at first but the potential savings over the year on your car insurance and the additional health benefits may be worth considering.
Honesty on your policy
Be honest in your estimates when applying for insurance. Any misrepresentation can lead to an invalid policy, meaning you cannot claim against the policy and leaving you on the wrong side of the law. If you make changes to your car, even small insignificant ones, these can be seen as ‘modifications’. Either let your insurer know before you make the changes, or notify them immediately. There may be a cost increase in your car insurance for changes to engines, adding alloy wheels or modifying the suspension. If there are, consider looking at specialist ‘modified car insurance’ providers for alternative quotes.
If your family’s car insurance bill is proving a bill too far, consider your options. Reducing the number of cars in the family or downgrading to smaller, cheaper and less powerful models can all make savings. Compare car insurance quotes for different models and makes of car to see what savings might be achievable and how much they could help to keep you on the road. For younger people, finding car insurance can be difficult. Adding younger family members to your own policy for the first year of their driving lives may help to cut this cost. With more experience behind them, they will be able to take out their own affordable young drivers’ car insurance policies later.