How to Reduce My Car Insurance Premium in the United Kingdom
- 1). Look at your current policy. One mistake that some consumers make is to maintain a very low deductible. In the United Kingdom, this is called excess. A low excess means that you'll be willingly paying more for premiums so that, in case of an accident, you'll have to pay less out-of-pocket. Call your insurer and change your excess to a higher amount. This will immediately drop your premium.
- 2). Drive less. U.K. insurers require drivers who log extensive miles each year to pay more in premiums. This is simply smart risk management. The more you drive, the likelier you are to get into an accident and cause the insurance company to pay claims. Take public transportation for your commute and use your car only for personal use. This will drop your premium.
- 3). Arm your car. Setting up an anti-theft device in the car will drop your premium. However, before installing an expensive device, contact your insurance company to make sure it is an approved and recognized device.
- 4). Change the driver policy on your insurance plan. Many drivers are unaware of this provision in the U.K. Insurance companies keep the disclosure murky so as to encourage most drivers to include any driver on their policy. By limiting the number of insured drivers to one or two--you and your spouse, perhaps-- your premiums will fall.
- 5). Compare companies. This is absolutely a must. Insurance companies' rates change often, as does your driving record. Make it a habit to compare different companies and prices every six months. This will ensure that you have the lowest premium available.