Guest Post: The Quick Guide to Reducing the Cost of Car Insurance

Everything these days seems to cost a small fortune and it’s getting pretty frustrating! We always hear on the news that the price of living is rising and so on and so forth. It’s all well and good moaning about increasing costs but unless we take the right steps to reduce our outgoings, things aren’t likely to change!

Insurance is, for a lot of us, a big expenditure every month or every year (depending on how you choose to pay) and it’s fair to assume that we’d all like to see these bills decreasing. The question is: what can you do to reduce the cost of your car insurance?

Choose Your Cover Wisely
There’s no right or wrong answer when it comes to choosing the level of cover that you go for but it’s important that you make a decision based on your specific requirements.

Whether you go for the lowest level of cover or the best, there are always pros and cons.

  • Lower levels of cover are often much cheaper and can help you save money
  • Lower levels, however, may not cover you for all situations and you may have to pay out more in the long run should an incident occur in which your insurance doesn’t cover you
  • Comprehensive cover can be more expensive annually which is out of many people’s price range
  • Comprehensive cover, however, will often give you a better level of cover and will be more likely to cover you financially if you were to be involved in an accident or become a victim of crime

It’s up to you to weigh up the pros and cons of each level of cover based on your requirements but if you want to reduce your long term car costs then choose wisely!

Use Technology to Your Advantage
With technology progressing faster than any of us can comprehend, it’s probably not surprising that there are new developments that we can utilise to keep our car insurance premiums down.

Black Box technology is a relatively new piece of equipment that is becoming increasingly popular, especially among young drivers. The technology monitors and records driving behaviour; depending on how safe your driving is deemed to be, your premium will be increased or reduced accordingly.

Excessive speed, aggressive acceleration and heavy braking will be likely to see your premiums increase while steady acceleration, gentle braking and safe speeds will result in lower costs.

If you’re looking to reduce your car insurance costs and you’re confident that you’re a safe driver then Black Box technology could be just the thing for you!

Slow & Steady Wins the Race
It seems like a very obvious point to make but: if you have an accident and make a claim then your premiums are likely to increase.

What’s the solution? … don’t have an accident.

As we mentioned before, it’s an obvious point to make but it really is something to bear in mind. It’s astounding how many people drive over the speed limit, drive too close to the car in front and generally, are irresponsible on the roads.

To reduce your car insurance costs, you need to keep this in mind at all times when driving. You might be in a rush to get home or you might have a bad day at the office but that’s no reason to drive recklessly.

Keep it slow, keep it steady and most of all, keep it safe!

It’s All about Research
You’ve heard it before and you’ll hear it again: always do your research before taking out an insurance policy.

  • Renewing an existing policy is not always the cheapest option
  • Cancelling your policy and taking out a new one, even with the same company for the same cover, maybe cheaper
  • Look into the different types of insurance including short term insurance which is perfect for if you don’t need an annual policy
  • Always browse price comparison websites
  • Don’t forget that quite a lot of insurance companies aren’t included on comparison sites so contact them directly

Researching different companies and policies to find the best price can take quite a long time but you could end up saving a lot as a result. Here at Insure Daily we offer short term cover at great prices, so take a look around our site for more information and to obtain a quick quote.

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