ifydcat After announcements from largest motor insurers in 2007, premiums for UK car insurance are usual to rise by 10-20% inside 2008.
A range of causes have been quoted from a rise in claims due to unforeseen events such since the recent floods to premiums already being artificially low for several years. Whatever the reason, a further hike in motoring costs coupled with increases in other non-discretionary costs of living mean that 2008 possibly will be an costly year for millions of UK residents.
Happily, there are a numeral of steps you can take to counter these inflation busting increases on your motor insurance.
STEP 1 – Don’t believe the hype
In spite of what the adverts speak you, there’s far more to finding the cheapest cover than only comparing the quoted rates. It’s a complex, multi-variable product, and deserves your attention as of this. Have a magnificent consider about how and when you practice your car and what multiplicity of cover up and options you do and don’t need. Many of us continue to renew policies using options we don’t need and are unlikely to usage.
STEP 2 – Search online for the true cover up and the lowest price
The important improvement of searching online is that you be able to compare cover up and premiums from any dozens of companies with the same reality. Price comparison sites will provide you a baseline to work from, but be aware that not all comparison sites are equal. Several make assumptions about your needs and pay for quotes that may 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-traditional and newer insurers for the best prices
A surprising study run by a customer 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 wonderful price only as the company isn’t “known” for car insurance.
STEP 4 – Pay for cover that matches your driving needs and habits
Many of us just pay for a standard car insurance policy with cover options that we are unlikely to need or use. If you’re a low mileage driver with a standard policy you may possibly be wasting hundreds each year. There is even a fresh ‘pay as you drive’ policy that uses a GPS device installed in your car so that your premiums are linked to your personal driving habits including mileage, the roads you practice and period of day you handling them.
STEP 5 – Reduce the danger and make the most of discounts
Premiums for some insurance are based upon risk, so to reduce your premiums try and decrease 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 each factored into premiums. A tiny known trick that can work using several insurers is to add a low risk named driver to your policy. A female higher than the age of thirty with a clean driving record be able to cut your premiums by 5-10%.
Posted in 
Tags: 
