Top ten ways to save on car insurance

Car insurance helps protect you from any financial burdens in case of an accident or theft. It’s a cost that you can’t avoid, but there are a couple of things you can do to keep the premium down when it comes to buying car insurance.

One of the most effective ways to save money on car insurance is by shopping around and comparing quotes from different insurers. Prices can vary widely between insurance providers, so check and compare different policies to find the cheapest policy that covers your needs.
If you’re renewing your car insurance, start getting quotes from multiple insurers a couple of weeks before your renewal date, as prices can change daily. Avoid waiting until the last minute as rates often increase closer to the renewal date.

Many insurance companies automatically renew your policy unless you instruct them otherwise. This is convenient but often means you’re not getting the best deal available.
Make a note of your policy’s renewal date and start looking for new quotes well in advance. This gives you the opportunity to find a better deal before your policy auto-renews. If you find a better quote, contact your current insurer to see if they can match or beat it. If not, switch to the new provider to save money.

Adding another driver to your insurance policy can lower your premium, particularly if they are more experienced and have a clean driving record.
Consider adding a parent, spouse, or a partner with a good driving history as a named driver on your policy. However, you must only add another driver to your policy if they’re going to use the vehicle.

Your job title can affect your car insurance premiums. Insurers may use your occupation as one of the factors in assessing your risk profile.
If your job title has changed, then make sure you’re using the most current job title when applying for or renewing your insurance policy. Remember to be honest about your job title and ensure the job title you choose accurately reflects your occupation. If you do make a claim, your insurer may ask for proof of occupation. Learn more about how your job title affects your car insurance

You can lower your car insurance premiums by registering on the electoral roll. Insurers use the electoral roll to verify your identity and address, which may reduce the risk of fraud.
Make sure you are registered on the electoral roll at your current address. You can register or update your details on the government’s official site. This simple step can also benefit your credit score, which can further help in reducing your insurance premiums.

If you have more than one car in your household, you may be able to save money by insuring them under a multi-car policy. Multi-car policies can be a good option for families or couples with more than one vehicle.
Some insurance providers also offer discounts if you bundle your car and home insurance together. Bundled insurance policies can also simplify your insurance management by having a single renewal date and point of contact. Check with your current insurer to see if they offer a discount for bundling policies or insuring multiple cars. Get quotes for individual policies as well as a multi-car and bundle policy to compare the savings.

Some insurers allow you to pay your premium monthly, but this can mean paying interest on the full amount.
It’s worth double-checking whether you’ll pay extra interest by paying monthly. If you can pay the whole cost upfront, it normally saves you money in the long run.

Your excess is the amount you agree to pay towards a claim before your insurance covers the rest.
If you are willing to increase the voluntary excess, then this can help reduce your premium. Just be sure you can afford the excess you agree.

The security of your car plays a significant role in determining your insurance premium. Insurers know that a car parked safely is less likely to be involved in an accident, so being able to park off the street or in a garage will often mean you qualify for cheaper premiums.
If you’ve installed any security features such as an alarm, immobiliser, or tracking device, make sure you inform your insurer about it so that they’re taken into account. Also, the more years of driving you have without convictions or claims, the cheaper your cover will become.

A telematics or "black box" policy involves installing a device in your car that monitors your driving habits.
Younger drivers especially could benefit from a pay-as-you-drive policy, where insurers check how safe a motorist is by installing a telematics device or ‘black box’ in their car. However, be aware that premiums can rise as well as fall depending on how well you drive.

With insurance policies becoming more expensive in recent times, its' important more than ever to consider the different ways to reduce your insurance premium.
While it can take time to shop around and find the right policy for you, doing that extra bit of research can help save you money in the long run. For more guides and advice, browse through our car ownership collection