Following announcements from leading motor insurers in 2007, premiums for UK car insurance are anticipated to rise by 10-20% in 2008.
A range of causes have been quoted from a surge in claims due to unforeseen events like the recent floods to premiums already being synthetically low for many years. Whatever the reason, a further hike in motoring costs along with increases in other non-discretionary expenses of living mean that 2008 might be an costly year for numerous UK residents.
Thankfully, there are numerous steps you can take to counter these inflation busting raises on your motor insurance.
STEP 1 - Do not believe the hype
In spite of what the adverts tell you, there's far more to finding the cheapest cover than simply evaluating the quoted rates. It is a complex, multi-variable product, and deserves your attention because of this. Have a good think about how and when you make use of your car and what kind of cover and options you do and do not need. Numerous of us continue to renew policies with choices we don't need and are not likely to use.
STEP 2 - Search online for the right cover and the lowest price
The primary advantage of searching on-line is that you can compare cover and premiums from a number of dozens of companies using the exact same info. Price comparison websites will provide you with a baseline to work from, but be aware that not all comparison sites are the same. Some make presumptions about your needs and get quotes that may be higher or lower than you will be provided. Look for comparison websites that ensure the accuracy of the premiums quoted.
STEP 3 - Look to non-traditional and newer insurers for the best prices
A surprising study run by a consumer advocacy group ran profiles through 33 insurance companies via multiple price comparison sites, and checking a number of risk profiles. The end result was that more recent insurers, and insurers not recognized for doing motor cover persistently came out with the cheapest premiums. Don't close your eyes to a great cost just because the company is not "known" for car insurance.
STEP 4 - Get cover that matches your driving needs and habits
Many of us just buy a standard car insurance policy with cover choices that we're not likely to need or use. If you are a low mileage driver with a regular policy you might be wasting hundreds every year. There is even a new 'pay as you drive' policy that utilizes a GPS device installed in your car to ensure that your premiums are linked to your personal driving habits including mileage, the roads you use and time of day you use them.
STEP 5 - Reduce the risk and make the most of discounts
Premiums for any insurance are based on risk, so to decrease your premiums try and reduce the risk of needing to claim on your policy. Factors such as where your car is parked, how it is used and how secure it's are all factored into premiums. A little known trick that may work with some insurers is to add a low risk named driver to your policy. A female over the age of thirty with a clean driving record can lower your premiums by 5-10%.
A range of causes have been quoted from a surge in claims due to unforeseen events like the recent floods to premiums already being synthetically low for many years. Whatever the reason, a further hike in motoring costs along with increases in other non-discretionary expenses of living mean that 2008 might be an costly year for numerous UK residents.
Thankfully, there are numerous steps you can take to counter these inflation busting raises on your motor insurance.
STEP 1 - Do not believe the hype
In spite of what the adverts tell you, there's far more to finding the cheapest cover than simply evaluating the quoted rates. It is a complex, multi-variable product, and deserves your attention because of this. Have a good think about how and when you make use of your car and what kind of cover and options you do and do not need. Numerous of us continue to renew policies with choices we don't need and are not likely to use.
STEP 2 - Search online for the right cover and the lowest price
The primary advantage of searching on-line is that you can compare cover and premiums from a number of dozens of companies using the exact same info. Price comparison websites will provide you with a baseline to work from, but be aware that not all comparison sites are the same. Some make presumptions about your needs and get quotes that may be higher or lower than you will be provided. Look for comparison websites that ensure the accuracy of the premiums quoted.
STEP 3 - Look to non-traditional and newer insurers for the best prices
A surprising study run by a consumer advocacy group ran profiles through 33 insurance companies via multiple price comparison sites, and checking a number of risk profiles. The end result was that more recent insurers, and insurers not recognized for doing motor cover persistently came out with the cheapest premiums. Don't close your eyes to a great cost just because the company is not "known" for car insurance.
STEP 4 - Get cover that matches your driving needs and habits
Many of us just buy a standard car insurance policy with cover choices that we're not likely to need or use. If you are a low mileage driver with a regular policy you might be wasting hundreds every year. There is even a new 'pay as you drive' policy that utilizes a GPS device installed in your car to ensure that your premiums are linked to your personal driving habits including mileage, the roads you use and time of day you use them.
STEP 5 - Reduce the risk and make the most of discounts
Premiums for any insurance are based on risk, so to decrease your premiums try and reduce the risk of needing to claim on your policy. Factors such as where your car is parked, how it is used and how secure it's are all factored into premiums. A little known trick that may work with some insurers is to add a low risk named driver to your policy. A female over the age of thirty with a clean driving record can lower your premiums by 5-10%.
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