We’re insurance experts – Use these tips to lower your premium costs and save HUNDREDS

SLASH YOUR PREMIUMS

We’re insurance experts – Use these tips to lower your costs and save HUNDREDS

At a time when living expenses continue to rise, including the cost of car insurance, finding ways to spend less is critical for many.

Here, business van insurance experts, Zego, offer expert advice on ways to minimise your insurance premiums, which could help you to save money now and in the future.

Compare your renewal quote

With the cost of insurance rising significantly over the past year, vehicle owners are encouraged not to settle for their renewal quote without first exploring the market. Comparing your quote with different insurers could help you to uncover a potentially big saving.

Zego’s specialists also suggest tailoring your policy to match your specific needs (particularly for business use) to avoid overpaying for coverages that you don’t need.

Annual payments usually cost less

Choosing to pay for your insurance upfront for the year can save you money over the long run. That’s because many insurers typically charge extra for the convenience of monthly payments.

If an upfront annual payment is out of reach, using a 0% interest credit card for the payment allows you to effectively manage monthly payments without additional interest, as long as the balance is cleared within the interest-free period.

Mileage matters

There’s a direct correlation between the number of miles you drive and your insurance costs. That’s because a higher annual mileage increases the likelihood of an accident or claim. So, be sure to accurately report your mileage when requesting a quote – it can help to reduce your premium.

Boost your vehicle security

Enhancing your vehicle’s security not only makes it less attractive to thieves, it can also lower your insurance costs.

Adding an approved alarm system, immobiliser, or other security features, and ensuring that you park it in a secure place at night, can all contribute to cost reductions.

Check additional coverages

When looking for more affordable vehicle insurance, check to make sure that any policy add-ons you have are actually needed. These could be extras like breakdown cover, legal expenses insurance, courtesy car, personal accident protection, or windscreen cover.

Often, these extras might already be covered under other policies you hold, or through your bank or credit card provider. If you don’t need them, make sure they haven’t been added to your cover unnecessarily.

Adjust your voluntary excess

If you have the option to change your voluntary excess, you’ll be able to influence your insurance costs. Opting for a higher voluntary excess can result in lower premiums, but it’s important to make sure that the amount is manageable in the event of a claim.

How you use your vehicle use

Your insurance policy should accurately reflect your vehicle’s use. Changes in how you use your vehicle, such as for work or delivery services, will require a change in your insurance to make sure it remains valid.

For those who drive only occasionally, temporary insurance can offer a flexible, short-term solution, allowing coverage for as little as an hour to up to 28 days.