Whilst everyone’s prices are rising at the minute, there are plenty of ways you can try to keep your insurance costs down. We’ve put together a handy list of tips and advice which may help you reduce your premiums;
•Paying annually. This can save you more over the year than paying by Direct Debit. As interest is added on to your premium when you pay by Direct Debit, this means over a 12-month period, you will pay more than paying a lump sum.
•Reducing your risk factors. The insurers we work with at Swinton must consider any risks that come with providing insurance coverage, for example, the likelihood of your vehicle being stolen depending on where it is kept overnight. Therefore, if you keep your vehicle in a garage overnight, or fit it with a tracking device, your risk factors are likely to be reduced, and your premiums should then decrease as a result.
•Building your no claims bonus. Each year you don’t claim on your insurance, you can earn a discount on your premiums, up to a maximum of 9 years through Swinton. Once you’ve reached 9 years, you’ll continue to receive the maximum discount but it won’t increase any further, while your no claims bonus will continue to show as 9 years on your documents too.
•Increasing your voluntary excess. Providing you can afford it in the event of an accident occurring, you could consider increasing your voluntary excess when purchasing or renewing your policy. Make
sure if you do this you consider the combined cost of any compulsory and voluntary excesses as these are added together at the point of a claim.
•Ensuring you have the right the level of cover. Ensure you have the right cover you need, and you aren’t paying for a higher level of cover that you won’t use. This can include any optional extras you may have added when purchasing your cover.