Car insurance isn’t always as cheap as you think it should be. The reality is, there are tons of factors that contribute to your overall insurance cost or how much you’re likely to pay each year.
Many of the reasons for an increase in your insurance policy might come as a surprise. In this article, we’re going to look at what you might be doing wrong if you’re trying to get the cheapest car insurance possible.
So, what could make your car insurance more expensive and make you lose money?
Pick an insurer that doesn’t specialise in your type of car
There are lots of specialist insurers, and some will be used to insuring the sort of car you’ve got. One mistake people make is by not shopping around when they switch vehicle types. You might have just bought a motorcycle and tried to insure it with the same insurer your van is with.
You’ll still get a quote, but this might be more expensive than you think. If you’ve got specific needs, look for an insurer that matches them, like an insurer who specialises in a specific type of vehicle, or a specific type of driver.
If you don’t shop around and compare enough
Don’t simply go with the first quote you find. Laziness doesn’t pay. Save on your car insurance by starting with some online comparison sites and get a wide range of quotes.
Compare them and find the best possible price for you and your vehicle. Remember, some insurers aren’t on price comparison sites, so have a look around to find the best deal.
If you’re too young
Insurers don’t like insuring young people, it’s as simple as that. They’re considered a higher risk and more likely to have an accident. If you’re a young driver and want a cheaper car insurance policy, you might have to consider a specialist insurer, a cheaper (or smaller) car or even installing a black box to help bring your policy cost down.
If you’ve got a poor driving history
Just like insurers don’t want to insure young drivers, they especially don’t want to insure people who’ve got a history of accidents, claims, or driving convictions. The simplest way to get cheaper insurance is to be a safe driver and build up a history of no claims.
If you keep your car in a high-crime area
Insurers also want to avoid areas that are considered high-risk for vehicle theft or other car related crime. That’s why they ask you to enter the location where the car will be stored most often when you apply for a policy.
If you use your car too much
Most insurance policies assume your car usage rate, but they’ll also ask for an estimate when you apply. If you use your car a lot, you could expect to pay a bit more.
If you want full coverage
Some cars simply aren’t worth taking fully comprehensive insurance. These policies are more expensive, so if you want to save money, you might want to avoid them.
If you buy the wrong car
Fast, new or large engine cars are more expensive to insure. They will be more attractive to vehicle thieves and could also be considered more dangerous to drive.
Hopefully, these tips should be enough to get you heading in the right direction towards cheaper car insurance.