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All change for car cover
By Sarah Modlock
- Make use of your no-claims record - you should be offered a discount for consistently claim-free driving.
- Make your car as secure as possible - if in doubt, ask your insurer what security or parking measures might help reduce your premium.
- Reduce insured drivers on your policy - some companies let you add them free of charge but if you are paying for cover which is rarely used then cut back the named drivers.
- Limit your mileage - look for policies that offer discounts if you drive fewer than the 8,000 - 12,000 miles per year average. This could knock up to around 15% off your premium. Take a bigger excess than the standard £50 or £100. Doubling the excess can knock about 15% off the premium. Pay your full premium - many companies charge up to 10% extra if you want to pay in instalments. Use your age - there is a remarkable drop in premiums after your 20s. Insurance companies target the over 50s for special policies and discounted premiums. But once drivers reach 75 rates start rising sharply again.
- Use your gender - female under-25s obtain premium quotes which are about 20% less than males, but the picture reverses after that, with insurers charging older female drivers slightly more than older male drivers.
- Don't lie - the most common lie is to register cars outside London or the other high-rated metropolitan areas, either at parents or at fictitious addresses. Doing this automatically invalidates your insurance.
- Become a valued customer - you may get a discount for insuring your home with the same insurer as your car. Likewise, two cars in the same family might be better with the same insurer than separate ones. You may also be given a loyalty bonus if you stay with a firm for several years.
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