How to cut your car insurance bill
Motor insurance premiums have soared in price by 25 per cent over the past six months, according to price check website Insuresupermarket.com. With the average yearly premium for comprehensive cover standing at pounds 590, the need to find savings by shopping around is greater than ever.
Before hunting down that best deal, be prepared. First, work out a realistic value for your vehicle. Insurers will only pay the market value if the car is stolen or written off, so by providing an over-optimistic price for the vehicle, you might have to pay higher premiums than necessary.
Next, calculate how many miles you will drive. The higher the mileage, the more expensive the premiums. Be realistic about who will drive; by restricting cover to named drivers only, you can cut insurance costs dramatically, rather than needlessly opting for an “any driver” policy. And consider where the vehicle will be parked. Finding an off-road garage where you can park your pride and joy, rather than parking on the roadside, should lower premiums straight away.
Susan Carruthers, 50, has enjoyed accident-free motoring for 30 years. The freelance personal assistant, who lives in Cheltenham, Gloucestershire, pays Direct Line pounds 238 a year for comprehensive motor insurance for her J-reg Honda Civic.