The price of everything from phones to bread is rising and is sure to continue to rise in 2018. Because of this, most people are trying to find ways to save money wherever they can. Besides your house (and a boat, if you have one), your car is the most expensive purchase that you’ll probably ever make. This is because you don’t just have to buy the car; You also have to pay for insurance, fuel, repairs, and so much more. For this reason, look at their car first, to try to save some money. Luckily, there are a few ways that you can cut costs on your car insurance. Here are the best ways to get a cheaper car insurance.
1. Shop Around
Like with most things in life, you can often save a good chunk of money simply by shopping around and using price comparison websites to find the best deals. However, just remember that the cheapest insurance isn’t always the best. You should also check out reviews for the difference insurances, like this Youi review, before you make any solid decisions. Your aim is to get a good balance between cover and price.
2. Opt For A Higher Excess
Generally, the higher your excess, the lower your premium, so if you increase your excess voluntarily when you set up your car insurance, your premium is likely to decrease.You can often compare this theory with a few different insurance providers using a comparison tool online. However, avoid agreeing to an excess that you know you won’t be able to afford, as your insurer won’t pay out until you do.
3. Drive Safely
If you’ve been caught speeding before and have points on your license, then your premium is probably going to increase. This means that, not only are you risking your life and others driving dangerously, but you’re also putting yourself out of pocket, so follow the law. Even if you do drive safely, simply having a fast car can increase your premium, so it might be an idea to get a more average car to keep costs low.
4. Pay In One Go
Paying your premium in smaller sums may be more convenient at the time, but it isn’t going to save you money in the long run. This is because most insurers usually charge you interest to pay each month, so it usually costs more to do it this way. When you read the terms and conditions, look out for this. If you do get charged extra to pay each month, and you have the money to pay for the insurance all in one go, then it makes sense to do it this way instead.
Insurance is something that every driver needs, so it’s sensible to start there when trying to cut costs and save money. However, there are plenty more ways to save money on your car, such as shopping around for gas and keeping your tyres properly inflated, so don’t just stop with your insurance. Keep thinking of new ideas, and you should have a healthy savings account in no time at all.