Tips for cutting car insurance premiums
03 February 2010 17:03:19
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| Some careful planning could help to lower car insurance costs. |
Writing for the BBC's Money Talk website, Peter Lawton, consumer editor of What Car? Magazine, revealed that the cost of car insurance premiums is rising at a record rate, making it more important than ever for drivers to shop around and compare car insurance quotes.
"Many businesses rely on the inertia of customers to turn a tidy profit, so do not let them," he advised.
A little time and effort can be worthwhile, according to Mr Lawton, who suggested a number of ways to lower premiums.
The expert urged young drivers not to list themselves as a named driver on their parents' car insurance if they intend to be the main driver of the vehicle in question, as an insurer could refuse to settle a claim.
Parents can be useful, however, as adding mum or dad - or another low-risk driver - to the young person's policy could lead to a reduction in premiums.
Similarly, money can sometimes be saved by asking to be put on other people's policies.
Mr Lawton explained: "Telling the insurance company you will be able to drive other cars will also lower your risk, so get your name on their policy and your partner's too."
Meanwhile, Graham Hiscott, deputy business editor of the Mirror, warned young drivers not to customise their vehicles by adding unnecessary modifications, as this could lead to inflated premiums.
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