We’ve rounded up some tips to help you take the first steps to reduce your premium.
Shop around and compare
You may feel tempted to accept the renewal quote that pops through the door but don’t fall into that trap! Once you have received your renewal quote, always go to the website of your current insurance provider and get a quote as a new customer and not an existing one. Insurance companies do not reward loyalty so you will always get a better quote as a new customer.
Don’t over insure
Always put a realistic value on your car – When asked to value our cars most of us have a pretty inflated price in our mind so it is worth checking similar makes and models online to get an idea of the replacement cost.
Look carefully at the excess
Increasing the amount of the excess on your policy will bring down the cost of your premium, but remember it will mean paying more when you claim.
The use of a telematics system or black box provided by an insurance company to track your driving is becoming more popular particularly among new drivers as a way to reduce insurance costs. However, all drivers can benefit as the regular feedback you get on your driving can make you an overall safer and better driver.
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