Following announcements from main motor insurers inside 2007, premiums for UK car insurance are natural to rise by 10-20% in 2008.
A size of causes have been quoted from a rise in claims due to unforeseen events such because the recent floods to premiums already being artificially low for a few years. Whatever the reason, a further hike inside motoring costs coupled with increases inside other non-discretionary costs of living mean that 2008 may be an expensive year for millions of UK residents.
Happily, there are a number of steps you can take to counter these inflation busting increases on your motor insurance.
STEP 1 – Don’t think the hype
Inside spite of what the adverts talk you, there’s far more to finding the cheapest cover than simply comparing the quoted rates. It’s a complex, multi-variable product, and deserves your attention as of this. Have a fantastic think about how and when you handling your car and what multiplicity of cover up and options you do and don’t need. A lot of of us continue to renew policies with options we don’t need and are unlikely to usage.
STEP 2 – Search online for the valid cover up and the lowest price
The basic gain of searching online is that you be able to compare cover up and premiums from any dozens of companies using the same reality. Price comparison sites will provide you a baseline to work from, but be aware that not each comparison sites are equal. A few make assumptions about your needs and acquire quotes that could be higher or lower than you will be offered. Look for comparison sites that guarantee the accuracy of the premiums quoted.
STEP 3 – Look to non-conventional and newer insurers for the greatest prices
A surprising study run by a purchaser 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 newer insurers, and insurers not known for doing motor cover up consistently came out with the cheapest premiums. Don’t close your eyes to a groovy price only as the company isn’t “known” for car insurance.
STEP 4 – Buy cover that matches your driving needs and habits
Lots of of us simply pay for a standard car insurance policy using cover options that we are unlikely to need or handling. If you’re a low mileage driver with a standard policy you possibly will be wasting hundreds all year. There is even a new ‘pay since you drive’ policy that uses a GPS device installed in your car so that your premiums are linked to your personal driving lifestyle including mileage, the roads you handling and time of day you exercise them.
STEP 5 – Decrease the risk and make the most of discounts
Premiums for a few insurance are based upon risk, so to reduce your premiums try and reduce the risk of needing to claim on your policy. Factors such since where your car is parked, how it is used and how secure it is are all factored into premiums. A small known trick that can work with several insurers is to add a low risk named driver to your policy. A female above the age of thirty using a clean driving record be able to cut your premiums by 5-10%.
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