Reduce Your Insurance Bill

If you are fed up with paying costly insurance premiums and want to find out how to cut your bill, receiving maximum cover at minimum cost, this checklist will help you to save money.

The first thing to do if your insurance premium is too high is to change you car to one in a lower cost insurance category.All cars are ranked on a scale of one to 50, one is the least expensive to insure.A Vauxhall Corsa 1.0-litre for example, will fall in the first bracket, while a premium car such as a Porsche 911 is at the opposite end of the spectrum.

Secondly, you can save money by making sure your car is as safe as it can be.Inner-city post codes command the highest premiums and although it's a tad drastic to move house just to reduce your insurance premium, you can for instance clear out your garage and lock your car up at night, or even put it on your driveway instead of parking on the street to attract a small discount.

Also, why not fit theft deterrents such as a Thatcham Category 1 immobiliser which is sure to impress your insurer because the Thatcham Motor Insurance Repair Research Centre measures the effectiveness of security products for cars using the British insurance industry's criteria.Security items like this aren't cheap, however, so it's best to weigh up the cost against the long-term saving on your insurance premium.

Insurers give you the choice to select your own risk, which means how much of each claim you will pay if an accident occurs.This is called the excess, and it can vary from as much as 1000 pounds down to 100 pounds - it's up to you to opt for what suits you best.The lower the excess, the higher the premium and vice-versa.

You should never accept the renewal letter quotation.Always contact your insurer and tell them that you will go elsewhere if they don't give you a better deal.They usually will but if they don't, make sure you obtain other quotes.Insurers always give the best quotes to new customers.

Always take the trouble to shop around.There is no doubt that it is very time-consuming but it could save you a small fortune.See what deals are available and take advantage of price-comparison sites like moneysupermarket or confused to get lots of quotes at once, and don't forget to try insurance brokers, too.

Check these sites - then check again.Even if the quote from the comparison site or broker sounds good, make sure you go directly to the insurance company they recommend so see if the quote can be bettered by them.It can, sometimes, be more economical to go direct.

Make sure you don't double up.Check the warranty and breakdown contracts you have already because your insurance company may be offering - and charging you for - the same cover that you currently have.If your breakdown cover includes paying for a hotel room if you need it, don't fork out for the same cover on your insurance as well.

Be accurate.Don't just guess how many miles a year you driver, take the time to work it out properly.Why pay for 20,000 miles of cover if your annual mileage is only 15,000 miles.

Try to tailor the deal to you.Some insurers will take account of the number of years you've been driving and this could benefit your quote.It can even if apply if you are or have been a named driver on someone else's policy.
This is a perfect way for young drivers to accumulate a no-claims discount even if they're on their parent's policy.

Finally, some insurers will offer discounts if motorists have successfully completed the Pass Plus course which was designed by the Driving Standards Agency and the driving instruction industry with the help of insurers.

Why not become a better driver as well as reducing your car insurance premium!

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