1. Shop around
There are significant savings to be had for doing a bit of searching to find the cheapest deal. Using comparison sites make this easier, although not all insurance companies are listed on them.
2. Pay annually
If possible always pay your premium annually as monthly premiums will normally carry a credit charge, this can make a significant addition to the premium.
3. Be a careful driver
It's amazing what a difference points on your licence and the odd minor accident can make to the cost of your insurance. This is especially significant for younger drivers.
4. Buy a car with a low group ranking
All cars are grouped for insurance purposes measured on performance and cost of repairs, the higher the group the dearer the cost of insurance. Do your research to make sure you keep the insurance group as low as possible when buying a car.
5. Park off-road
All insurance companies will want to know where your vehicle is kept overnight. In a garage or on a driveway will make your insurance cheaper in most cases.
6. Increase the excess
All insurance policies will carry an excess that you will have to pay in the event of a claim. You can increase the excess on most policies which will reduce your premiums.
7. Add another driver
This may sound odd but by adding an older driver, say a parent, to your insurance policy can actually reduce the premium. Also couples are usually cheaper than singletons.
8. Consider pay-as-you-go
A couple of insurers offer pay-as-you-go policies and monitor drivers using a GPS device fitted to the car. These policies are aimed at younger drivers, making it more costly to drive at high risk times, like during the hours of darkness.
9. Drive less
The more miles you drive the more expensive your insurance will normally be. Also driving the vehicle for just social use will be cheaper than using it for business as well.
10. Cut down on policy extras
Policies will often offer extras like a courtesy car or cover when abroad. If you can do without these extras the cost will come down.
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