Motor insurance is an unavoidable expense for most car and van drivers, but that doesn’t mean you should pay over the odds for it. Here are six tips for how to find a good deal when you need to insure your car or van.
1. Avoid Monthly Payments
While monthly payments on your insurance premium can help with budgeting, it does result in a higher overall cost after 12 months. If you can afford to pay your insurance annually, this will help you to save money. Planning ahead and putting money aside for a year can make it easier to start driving and find cheap insurance.
2. Consider a Higher Excess
Increasing the excess on your insurance policy can bring the overall cost down. This means that if you make a claim, you will pay more towards the cost of repairs or replacements. However, this can be an investment worth making if you have a high insurance premium. Increasing the excess amount by just £100 could result in several hundred pounds of savings on the insurance policy.
3. Choose Your Vehicle Carefully
You can get cheaper car and van insurance by choosing your vehicle carefully. Vehicles with smaller engines are generally cheaper to insure. The price of your insurance can also depend on overall statistics and how many accidents or claims have been made involving a certain make or model of car.
For example, you are more likely to find cheap van insurance by choosing a smaller van or buying a vehicle that has an increased level of security through alarms and other fittings.
4. Don’t Be Tempted by Extras
It’s easy to start adding on other things when taking out insurance cover. Sales staff on the phone will try to upsell their products, and websites will give you many appealing extras to choose from.
You can often get things like breakdown cover through your bank or another subscription, so be mindful of adding unnecessary add-ons.
5. Drive Carefully
The best way to bring the cost of your insurance down over time is to keep your driving record as clean as possible. When taking out a policy, you will be asked about your driving history, and any convictions or fines. These can have an impact on the price of your insurance.
6. Shop Around
Don’t settle for the first insurance quote you find. When looking for cheap van and car insurance, spend some time exploring the different providers available and looking at the level of cover they offer.
Some providers will give you a higher level of cover for a higher price, so ensure you are comparing like for like with the quotes you receive.
A wide-ranging combination of factors comes into play when deciding the cost of motor insurance. Doing some research, shopping around, and downsizing your vehicle can all help to keep these costs lower.