Depending on the vehicle you have, car insurance can be a relatively pricey expense. It's something you'll need to take into consideration when you’re trying to find the right car for you or your family.
The price of car insurance can differ greatly based on the age of the driver as well. According to Statista, 20-year-olds pay around £850 per year while 55-year-olds pay just over half of that at £468. But there are some things you can do to help reduce the price of your insurance.
Look into a black box
A black box is a great way to bring the overall price of your insurance down, especially for those who have just passed their driving test.
All it does is track your driving. Ultimately, you'll pay less if you’re driving safely and within the rules of the policy. As mentioned, this can be a great way for young drivers to reduce the price of their insurance as it’s based on how you drive rather than just your age.
Think about the mileage
You may think that a low mileage is a good idea to reduce the insurance as you’re not going to be driving around a lot, but insurers will take this into account and consider the driving experience you’re getting.
No matter how old you are and how experienced you are, it could actually increase your insurance if you’re not driving a lot and your annual mileage isn’t very high. Make sure you find a happy medium.
Install anti-theft devices
Protecting your car as much as possible with the installation of anti-theft devices can not only increase the overall security of your vehicle, but it can also reduce the price of your insurance. Devices such as immobilisers, alarms and trackers improve the security of the vehicle, which helps keep your insurance record clean and costs down.
Use multi-car discounts
If you or your family have more than one car, it could be worth trying to take advantage of the multi-car discount that most insurers will offer. Usually, insurers will offer a bulk rate rather than an individual rate for each car. However, the younger the driver, the more the multi-car insurance will be. It usually still works out much better than going with multiple different insurers, though.
These are just a few of the things that can be done to reduce the cost of your car insurance. The longer you drive and don’t make a claim, the cheaper your insurance will be. If you want to reduce your insurance price, consider some of the areas we’ve covered and you should see your insurance start decreasing.
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