How do I save on car insurance?

There are a number of things you cannot change. Being older is a massive benefit. Having no claims in the last seven years is huge too. But there are some things you can do:

  • Have a cheaper, low-power car, under 1L. Preferably a common make and model, so that repair costs are lower. Not too new – but not so old that it’s becoming rare either.
  • Make sure the car has an alarm or immobilizer, or both. Most are factory-fitted now, but you can add after-market ones.
  • Take an Advanced Driving Course (and pass!). However, only some insurers will make use of that.
  • Make sure you can park off-road, preferably in a garage, at night.
  • Have access to another vehicle. This tends to lower insurance costs – I suppose because you are not always driving that one.
  • Limit your mileage. If you only do 5000 miles a year, you can get a cheaper policy – but only some insurers do this.
  • Have a voluntary excess – money you have to pay towards any claim. Increasing this lowers costs, but at the risk of you having to spend out more if you ever need to make a claim on it.
  • Live somewhere with a lower crime and accident rate. Bit of a big ask to get lower insurance, but it’s worth paying attention to. The countryside tends to be much cheaper than the city.
  • Lastly: get lots of quotes. Car insurance is pretty competitive, and if you can find a good intro offer or an insurer that specializes in people in your circumstances. Don’t just go for the brokers – many of the direct-to-consumer ones will not be on them.

Author: Jonathan Elder, lives in Hampshire, UK
Source: Quora

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