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Top Tips and Hints

The Insurance Boffin’s Top Tips for Cheaper Car Insurance!

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· Have a Thatcham approved alarm professionally installed.

· If you can, park your car off-road or in a garage rather than on the street.

· Reduce your annual mileage. By defining a lower annual mileage limit it could reduce your premium, but don’t deliberately underestimate your mileage as this may invalidate your policy if you have a claim.

· Restrict when you drive. Some insurers now offer reduced premiums if you drive during the day only.

· Female drivers are statistically less likely to have an accident and can benefit from lower premiums. Get a quote from a company that specialises insuring female drivers.

· Bulk buy all your insurance. Insurance companies will offer extra discounts if you also purchase travel insurance, house insurance, pet insurance etc from them.

· Minimise your optional extras. It may sound handy, but consider if you really need the optional extras on your policy. A courtesy car, legal expenses and increased cover on audio equipment will all increase your premium.

· Don’t buy insurance on monthly direct debit. It may be convenient, but you will incur interest charges, thus additional cost, by spreading your insurance premium over the year. Always check the actual amount you will be charged by paying this way.

· Don’t settle for Third Party Only (TPO) cover because you think it will offer the cheapest insurance quote. Third Party, Fire and Theft (TPFT) and Comprehensive (Comp) policies may not be any more expensive and provide significantly better insurance protection.

· When renewing your policy, get your broker to see if there are cheaper rates available or if you insure with a direct insurer, shop around. Insurance companies prey on our reluctance to re-arrange our insurance and over the years may slowly increase your premium.

 

It is vitally important that your correctly disclose all information to your insurance company. If you lie to obtain a cheaper premium your claim will be rejected and your policy voided. It is a serious offence and you could be prosecuted which will result in a criminal record and points on your licence. This will definitely increase your premium.

The Insurance Boffin  E-mail: info@insuranceboffin.com

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The Insurance Boffin

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