5 Tips to Get Cheaper Auto Insurance in the UK
So you bought a new car, and now it’s time to insure it. Everyone wants to save as much money as possible, of course. One way that most people try to save money on their car insurance is by getting a third party + fire and theft policy, but comprehensive insurance could work out to be cheaper in the long run, especially for inexperienced or risky drivers. Carefully weigh the costs of a higher level of cover with the costs of repairing or replacing your car in case of an accident. Aside from that, here are five more tips to help UK drivers get cheaper auto insurance.
Cheap auto insurance trick #1: Choose a car that’s cheaper to insure
Car insurance companies have different premiums for different types of cars, based on the cost to repair the vehicle, the cost of the car’s parts individually, the value of the car, how fast and powerful the car is, and how secure the car is.
The five cars with the cheapest car insurance in the UK are:
- Volkswagen Up!
- Chevrolet Spark
- Kia Rio
- Vauxhall Corsa hatchmack
- Renault Twingo
Cheap auto insurance trick #2: Avoid pricey “mods” to your car
Custom modifications to your car can drive up your car insurance rates by hundreds of pounds because they add to the replacement and repair costs of the vehicle. Some examples of “mods” that you should avoid are alloy wheels, body kits, custom sound systems, etc.
Cheap auto insurance trick #3: Pay in full each policy period
When your annual car insurance rate can be in the range of £800 or more for young drivers, paying all that cash upfront in one lump sum can literally be painful. However, if you have the ability to pay an entire year’s worth of insurance at once, you should do it. When insurance companies calculate monthly premiums, they aren’t simply dividing your annual rate by 12 months; instead, there are loads of extra fees and interest built in to your monthly payments, and the only way to avoid them is to pay in full when you sign up or renew your policy.
Cheap auto insurance trick #4: Add another driver to the policy
Car insurance premiums are especially high for young drivers, who are statistically more likely to file a claim. Less experienced drivers or drivers with a poor driving record may be able to save some money by adding a named driver to the policy. To be effective, the named driver should be older, more experienced and have a clean record with no points. Important: putting the policy in this driver’s name when you are actually the primary driver is known as fronting, and it is illegal. If you do this, the insurance company may reject any claims you file after an accident.
Cheap auto insurance trick #5: Add security features
In tip #1 we mentioned that a car’s security is a factor in how much it costs to insure. Adding anti-theft devices, alarms, immobilisers, etc. can knock a few pounds off your insurance premiums.