Drivers are being told to follow a "classic" rule to slash car insurance premiums – because it "still holds true today". Experts at Auto Express have urged motorists to make sure they shop around when looking for car insurance.
Steve Walker, head of digital content, said: "The classic advice when it comes to car insurance is to shop around and it holds true today. Never accept your insurer’s renewal quote without checking the prices you could get elsewhere."
He said: "If the worst happens, a policy with more comprehensive cover could be well worth the extra cost." Mr Walker said: "Everyone should also consider how they use their car.
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"Doing a lower annual mileage, parking off the road overnight and resisting the urge to make modifications to your car will all help keep quotes down. It’s crucial to always be completely accurate on insurance forms.
"However, using an alternative – but still accurate – job title description, or adding a named driver, can also lower costs."
He went on to add: "The car market’s transition to EVs is bedding-in with better and more affordable availability of parts.
"Some concerns over the cost of repairing EVs still remain and electric cars still tend to occupy higher insurance groups than equivalent petrol models but this should continue to improve as more and more EVs are sold."
Sam Richardson, deputy editor of Which? Money, said: “Younger drivers are often paying more for their insurance because they don’t have as much experience on the road as other motorists, but further increases at renewal will be an unwelcome further strain on budgets for many.
“These drivers are also more likely to be less resilient financially and therefore may look to spread the cost of their premium on a monthly basis. However, as Which? research has consistently shown, motorists who pay for cover this way are often stung with sharp interest rates that can inflate the overall cost – sometimes by as much as hundreds of pounds.”
He added: “For younger drivers worried about the cost of insuring their car, there are some steps to take. Haggling remains an effective way of getting a better deal, and it pays to do research on what other providers can offer before contacting your current insurer. Installing a black box can also lower premiums as it tracks how and when you drive, or send vouchers or cashback, if you drive to the insurer’s advice.
“Driving a cheaper and less powerful car will also mean lower running costs, which can reduce a chunk of the insurance premium. A car that’s cheaper to buy will generally be cheaper to repair and replace, and hence cheaper to insure.”
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