Tips for reining in your car insurance premium

So many drivers have a groan and moan about their car insurance premium and the costs involved –especially those of younger years – but there several ways that car insurance policies can be brought down in price.

Car insurance companies have to assess just how likely something bad is to happen to your car, therefore it is up to the driver to ensure that everything possible has been done to bring that premium down, as well as make their car safe.

What car to choose?

This is most definitely the area which has the most effect on how much a driver pays on their premium. The general philosophy is that a car with a large engine will reap a larger cost when it comes to insurance; so a 6.0-litre Aston Martin will always cost more than a 2.0-litre Ford and so on. Obviously, most people can’t afford an Aston anyway, so it’s really down to finer margins such as choosing between the likes of 1.2, 1.4 or 1.6-litre engines, with each option bringing either a lower or higher price.

When looking for a new car and would like your insurance to come down, look at the engine in your current vehicle; is it bigger than what you require? If so, look to downsize on your next purchase and you will reap the rewards.

Car brands will often make a difference when getting car insurance. For example, an Audi A1 is likely to cost more to insure than a Vauxhall Corsa as Audi is a premium brand; another example would be a KIA Sportage being cheaper to insure than a Range Rover Evoque.

Safety and security features are also very important factors on how much car insurance will cost and you should certainly look to see what NCAP rating your current or potential future car has. Security features such as immobilisers will also help keep costs down.

Location

Although you might not realise it, your address will have a profound effect on insurance costs on anything you own, never mind a car. Living in areas with records of high crime rates, then you will likely incur high insurance costs. The most extreme tonic to this would be to move to a safer area, but more likely options include getting a clamp for a wheel on your car or a high standard security alarm.

Other factors:

  • Park your car in a secure garage, or at least on the driveway, as leaving it parked up on the road would have your insurance rates go up.
  • Having points on your licence also raises your premium higher as it shows that your driving is not of a safe standard if you’ve been caught speeding. Try to change your driving habits if you have the tendency to be a bit eager on the gas pedal.
  • Do your utmost not to get involved in any bumps and scrapes whilst out on the road, as you will likely lose any accrued no claims bonus which is vital in bring down your car insurance costs.