How do I reduce my car insurance premium?
You can reduce your car insurance premium by using an insurance broker who may have access to special rates in your area and will generally quote from a panel of insurers to provide a quotation, tailor made to your requirements. You should consider the following when obtaining quotations:
The fewer people that drive the car, generally the less time it will spend on the road. Restricting those insured to drive your vehicle, only drivers over 25, or even just yourself for example, could reward you with a discount. Your insurers will want to know about anyone who is likely to drive - particularly their age, experience, claims and driving record and occupation.
Your policy and certificate describe what your car is insured to be used for. For example, if you or any authorised driver want to use your car in connection with work, make sure that your policy covers this.
Many insurers allow a discount for drivers that don't have a high annual mileage. For example, by restricting your mileage to 3000, 5000 or 8000, you may attract a premium discount.
No Claims Discount
Policyholders with a claim free (not blame free) record normally qualify for a premium discount. Scales vary from one motor insurer to another but can range from 30% for one claim free year up to 60% or more after four or five years.