Car Insurance During The Credit Crunch

As petrol gradually starts to go down in price after what seemed like an unstoppable rise, The Telegraph has recently reported that Car insurance has increased by an average of £50 per premium over the last year. So how can the average driver be sure that they are receiving the best rate they can get?

When it comes to buying auto insurance, drivers often underestimate the amount they can save by making small but significant changes. For example, your premium could be up to 10 per cent cheaper depending on where you park you vehicle. Before you buy, it may well be worth clearing out the garage as the increased security can save you money on your quotes. Even a small change such as being sure to keep your car on your drive instead of on the street can make a difference too.

Aesthetic qualities may seem desirable when it comes to owning a car, but of course these can push up premiums as well. Convertibles are a prime example, firstly because they are less secure, less safe in an accident and tend to have a bigger engine. Subsequently, the smaller the car’s CC the cheaper the premium is likely to be. Whilst adorning your vehicle with flash hub-caps and gold-leaf magic tree probably won’t do you any favours either.

How you buy is also important. The Telegraph also identifies the importance of buying online to lessen prices of premiums but even the job you do can have a dramatic difference. A friend of mine experienced a significant price difference when was taken on as a sound engineer intern for a production company. His premium was almost ten per cent cheaper if he regarded himself as a sound-man as opposed to an intern.

For people with more than one vehicle, it is also wise to keep just one car limited for social, domestic and pleasure, and to use the other (cheaper) ride for work as well to cut down costs. This planning will lessen the risk of an accident for the more expensive vehicle and the insurance companies take this into account.

To some it may seem like common sense, but to bear in mind these few small aspects can dramatically reduce your car insurance quotes. And it has never seemed like a better time to be as sensible when spending money in this area.

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