Car Insurance in the UK: How to Save in 2024
Car insurance is a legal requirement in the UK, but that doesn’t mean you need to overpay. With rising costs, it’s more important than ever to find ways to save on your premiums. Here are some effective strategies to lower your car insurance costs in 2024.
1. Shop Around
One of the easiest ways to save is by shopping around for quotes from different providers. Don’t just accept the renewal price from your current insurer. Use comparison websites to check multiple offers and ensure you’re getting the best deal.
2. Increase Your Voluntary Excess
Voluntary excess is the amount you agree to pay out of pocket if you make a claim. By increasing your excess, you can reduce your monthly premiums. However, be sure to set a voluntary excess that you can afford to pay in case of an accident.
3. Install Security Features
Enhancing your car’s security can lead to lower premiums. Installing features like immobilisers, alarms, or dash cams can reduce the risk of theft and accidents, making your car less expensive to insure.
4. Pay Annually
Paying for your car insurance annually rather than monthly can save you money in the long run. Most insurers charge interest on monthly instalments, so if you can afford to pay upfront, it’s a simple way to save.
5. Consider a Telematics Policy
A telematics or “black box” policy tracks your driving habits, rewarding safe drivers with lower premiums. If you’re a careful driver, this type of policy can significantly reduce your insurance costs.
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