EARLY renewals, accurate mileage and even the right job title can save you hundreds on your car insurance, according to a new guide.
While it may not be possible to do anything about your driving history, it doesn’t mean you can’t reduce your premium with a few simple tricks.
For example, filling in the renewal form a month before the old policy runs out could wipe off more than £100 straight away.
And calling yourself a “homemaker” is cheaper than saying “unemployed” — and it is not necessarily telling a porky either!
These seven simple tricks are legal and come from car insurance expert Matt Oliver, of comparison site gocompare.com.
He said: “These industry tips should help bring the cost of insurance down for most motorists.
“But the big money is in switching and regularly shopping around.”Here are seven ways to cut the cost of car insurance — based on the top ten cheapest premiums and a variety of different driver profiles.
1. Buy early (potential saving £103): Renewing your policy a month before it runs out can save more than £100.
This is because insurers will see you as risk-averse and more likely to be a safer driver and less likely to miss a payment.
2. Accurate mileage (potential saving £36): If you do 9,000 to 10,000 miles a year, don’t round it up to 10,000. Costs go up with each 1,000 miles, typically by £36 per 1,000. Work out annual mileage by looking at MOT certificates and give the exact amount.
3. Titles (potential saving £136): Insurers usually offer a drop-down list of occupations. If your exact job title is not on the list, then be careful about what you pick. Some are cheaper than others.
Going for music teacher is cheaper than just picking teacher and choosing homemaker or housewife can be around £140 cheaper than saying you are unemployed.
4. Named driver (potential saving £345): Claiming a parent as the main driver for a child’s vehicle is illegal and known as “fronting”. But adding a parent as a named driver, particularly if they are over 50, can save up to £345 on a young driver’s premium.
5. Comprehensive cover (potential saving £204): Third party is not always cheaper. Insurers can see those looking for comprehensive cover as more likely to be a careful driver. A fully comp policy can be just over £200 cheaper than a third-party one.
6. Pay annually (potential saving £113): Monthly payments spread the cost but incur interest.
If you can’t afford to pay in one go, use a credit card with an interest-free introductory offer.
Then spread the payments back to the credit card, without any extra interest.
7. Shop around (potential saving £255): Research found savings of up to £255 on car insurance policies simply by looking around for a few minutes.