Aside from fuel, one of the biggest outgoings you have to pay on your car is insurance.
When you first start driving, the cost of insurance will always be fairly high. You’re a new driver with less experience, which represents a risk to insurers.
Over time, your insurance should (in theory) become cheaper. But are there any steps you could take to bring the cost down further and save money?
The class of insurance you opt for
One way to bring down your insurance costs is to look at the level of insurance you pay for. The better and more comprehensive your coverage is, the more you stand to pay.
Think about looking at the crime statistics for your area, and where you keep your car and how you use it. It might be that you’re paying for fully comprehensive insurance when, in actuality, you might not necessarily need to.
Talk to your insurance provider – there may be changes you can make to your policy that will reduce your premium.
Who can drive your vehicle?
If you have multiple people insured to drive your car, taking some of them off the insurance can lower the price.
For example, if you’ve got someone named as a driver on your car, but they have their own vehicle and never drive yours, why pay for the additional person?
Depending on their circumstances, such as if they’re a newer driver than you, or they will have their license for a shorter time due to health issues or age, they could be bumping up your insurance costs. If they aren’t using your car, take them off your insurance – this could, in turn, seriously bring down the amount you stand to pay.
Shop around
The easiest way to reduce your insurance costs is to shop around. Price comparison sites do a great job of steering you in the right direction when it comes to finding a good deal.
Get quotes and weigh up the additional benefits of each provider. Some might offer free roadside assistance, while others require an additional fee. Some might provide a courtesy car, others might not.
You might also get a better deal from insurers if you have a black box fitted to your car. Depending on the driving you do, this could be something to consider. Look at the amount of driving you’ve done over the past year too, or how much you think you’ll do over the next 12 months.
Many insurers want an estimate of the number of miles you’ll cover. In some situations a lower estimate can reduce the quote you get from insurers. Don’t underestimate the number of miles you’ll cover, but, at the same time, try to be realistic ¬– don’t cost yourself money by over estimating too.
Also, keep in mind that if you’re looking to renew your insurance for the year, you can sometimes use the quotes from comparison sites to get a better deal with your current provider.
Helping you get a good deal on your perfect car
Aside from insurance, there are other savings that can be made on your car, from the cost of maintenance to where you buy fuel. Making sure you get a good deal on the cost of your car can save you money.
At Hippo Motor Finance, our team is dedicated to helping you find the right car at the right price. To find out more about how we could help you and the range of deals we offer, get in touch with a member of our team below.
