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How to Find Cheap Car Insurance Online

Cheap Car Insurance

Find Cheap Car Insurance Online
By resident expert Dave Healey

Finding cheap car insurance can be like looking for a pot of gold at the end of the rainbow. Everybody is looking to make savings on their annual motor insurance premiums as the recession bites. We offer 7 proven money saving tips that will help you purchase cheaper cover online.

1. Improve you car’s security to deter Thieves

Virtually all modern cars and newly bought vehicles have in built anti-theft devices and alarms. As long as they are approved by the government testing agency Thatcham, you will receive substantial discounts for implementing one. Extra and additional security measures such as window and glass etching of your cars number plate details will command further discounts with some insurance companies.

2. Pay for the Car Insurance upfront

You could save as much as twenty five percent on your annual car insurance premium charges if you pay for the whole years cover upfront, at the time of purchase. Most car insurers charge this amount in interest over and above the basic premium cost, for the privilege of paying for the cover in installments or by credit card. Additionally avoid untried pay as you go insurance schemes – you may be in for a very unpleasant surprise.

3. Do Not change cover mid-term of the policy

It is also a wise move not to change your car insurance provider in the middle of the current policy term. Primarily it is going to cost you more, as canceling an existing policy will only get you a small return on your annual premium and not a pro-rata payout for the amount of time you have left. Secondly it is highly likely that car insurance premium pates will have hardened or risen over the course of a policy and changing mid term will only ensure you pay more earlier.

4. Do you own more than one car?

If you own more than one car and perhaps have separate policies for these or for your wife, partner or children it would be worth your while investigating multiple car or mini fleet family policies. You may be surprised at how much you can save on annual premiums if you insure multiple vehicles under the same cover. Quite often the cost of insuring two cars can be virtually the same as one, particularly if one car is much more expensive than the other.

5. Keep an eye out for Group Discount policies.

Many specialist car insurance companies offer premium discounts on cover if you belong to certain clubs or are affiliated with certain organizations. When purchasing online keep a look out for affinity codes, usually your membership number, in order to obtain what are often substantial discounts for being a member of a certain risk group. Visit a specialist car insurance company or apply for your groups car insurance scheme through your motoring or leisure organization.

6. Take on some of the risk yourself

You can substantially lower your premiums if you take on some of the risk that the policy covers, yourself.
You can do this by increasing excesses, which is the amount you will have to pay in the event of a claim before the insurance company pays out.
Voluntary excess is one such example. Be careful to weigh up the costs of any excesses and whether you can afford them in the event of a claim.

7. Improve your credit rating

Most online car insurers as soon as they have your name and address will automatically make inquiries to one of the big consumer credit firms such as Experian. Before you have finished filling in the form the car insurance application will know whether you are credit worthy or not. If your credit score appears bad the insurer will probably weight the policy rates against you as they either do not want your business or perceive you to be a greater risk of claiming.

As with all insurance, you can be guaranteed money savings if you take the time and trouble to investigate alternative policies and compare companies cover and quotes on the Internet.

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