Increasing the excess By agreeing to pay a larger excess on claims, you can lower your car insurance cost considerably. Insurance companies deem that car owners are unlikely to make small claims when they have to pay from their own pocket and hence, they offer a lower premium on policies with a higher excess. It is worth considering, in some cases.
Factors that could increase your costs
Having too many named drivers on the policy On some insurance policies, it is cheaper to limit driving to just you and your spouse. Again, you are reducing the risk of accidents when you limit the number of drivers using the car. In fact, in some cases you can actually claim a better discount on your policy when you do ‘add’ your spouse to the policy, so keep this in mind also and check with your insurance company if there is a discount for having your spouse added to the policy.
Paying the premium in installments Remember when you pay for your insurance policy in instalments, you will not only be paying the full cost of the actual insurance policy but also the interest on the amount being paid over the year. This can considerably increase your overall cost. So, if you can afford it, be sure to pay your premium upfront. Although it might be a large sum to pay out in one go, you will avoid the drawback of incurring interest charges, thereby reducing your overall cost.
Failing to shop around Be sure to take your time to shop around and compare quotes from multiple insurers. This way, you can be sure of getting the best coverage at the best price. At Britton Insurance we compare car insurance quotes from several insurers and help you choose the one that best suits your requirements and budget. We have helped thousands of over 50s drivers find the right car insurance in Ireland and we would love to help you!