Many factors affect the cost of car insurance. Some – such as age, experience and quantity of no claims bonus – we have no control over, but there are others that can be used to make savings on premiums. Car insurance is a considerable annual cost for most Irish households, particularly if you are insuring more than one vehicle, so it’s even more important to seek out the best deals available.
TIP 1 Size matters
Your car’s horsepower will have a big effect on the insurance premium you pay, so choose your car wisely. The bigger the engine and the more expensive the car, the higher the premium will be, so choosing a smaller car will cost you less in insurance.
When buying a car be sure to check the insurance cost before you purchase. If you have a specific make and model in mind, remember to check to see which insurance grouping your car falls to avoid a nasty shock when you come to get cover.
It’s also worth noting that imported cars tend to attract more premium and so do models that see more theft claims.
TIP 2 Utilise someone else’s experience
Adding a second driver to your car insurance policy can help lower your premium. In fact, many insurers offer a discount when you add a partner or spouse to your policy.
To get the best savings make sure that any extra names on the policy are experienced drivers and have a clean driver’s licence, as well as a decent no-claims history.
TIP 3 Value your car accurately
It’s important to be conservative when valuing your car, and not to over insure. After all, you will only be able to claim the amount that the car is deemed to be ‘worth’ on the day of the claim by your insurer’s assessor.
Understandably, people often tend to overvalue their car. Remember you are being asked to value your car as of today’s market price (based on age and condition), not how much it cost you at the time of purchase. The value submitted when taking out your motor insurance should be the estimated market value of your vehicle on the date your insurance commences.
Using a depreciation calculator (available online) to get an accurate estimate of the current value of your motor vehicle.
TIP 4 Gather a variety of quotes online
If you are a claims-free car owner, consider switching insurers regularly. Compare quotes from different insurers. Check to see if you’re entitled to further discount if you have multiple policies with the same insurer.
TIP 5 Use a broker
Better yet, consider using an insurance broker. A broker can compare multiple car insurance quotes to help you find the best deal available to them in the marketplace, saving you time and money.
Get your quote in a matter of minutes with Britton Insurance. We are Ireland’s leading car insurance brokers with a team of highly experienced insurance specialists. We compare up to 30 car insurance quotes to help find the best quote available to us on a given day and the best features to suit your individual needs. Give us a call today!