Six Methods To Save On Your Automotive Insurance – Telegraph.co.uk
3. Play around with your job title
It is generally a very bad idea to give false information to an insurer as it could result in them rejecting your claim. However, if you get your phrasing right while staying accurate, you can end up saving money.
Insurers use incredibly detailed processes to determine which of their customers is more likely to claim damage. Therefore, small details such as B. How you describe your job will affect your premium.
For example, a “cook” might pay less by calling himself an “assistant cook”, while a “photographer” might pay more than someone who calls himself a “freelance photographer”.
4. Consider a higher excess
Setting a higher deductible can reduce your premiums as you are essentially transferring some of the risk from the insurer to you. Insurers will also see that customers with higher deductibles tend to be more cautious about driving.
This could be a great option for those who have access to cash savings and are happy to take the extra risk.
Remember that insurance is there to protect you if the unexpected happens. A larger excess would expose you to a significant cost if something goes wrong. It is not the best option for those who do not have adequate savings or risk taking.
5. Add a named driver
Adding an additional driver to your policy, e.g. B. your partner can reduce your premium. However, it can also be increased. There is no single rule of thumb for the impact of named drivers on premiums, and each insurer has different pricing methods.
The named driver should only drive the vehicle occasionally. If they drive the vehicle most of the time, one speaks of "fronting" and is called fraud.
Adding a named driver during the policy may also incur an administration fee.
6. Get a black box
Telematics boxes can save motorists money by monitoring how well they are driving, with insurers varying premiums accordingly. Young drivers in particular can save real money by installing the devices.
Box and installation are usually free as insurers include these costs in their premiums but may add additional fees.
However, installing a black box does not guarantee lower costs. Keeping a record of your driving behavior can also increase your renewal premium if you drive carelessly. Many motorists may also feel uncomfortable giving their insurer a chance to track them.