Latest figures from the AA British Insurance Premium Index show that the upward trend for car insurance premiums continued through the third quarter of 2008 rising more than 3.1 per cent - the equivalent of a £22 leap.
Over the year, premiums have leapt by 7.6 per cent in total - around £50 - to an average of £724.68. With the economy suffering a downturn and inflation reaching a 16-year high, the pressure is on motorists to take the initiative in an effort to drive their premiums down.
So if the insurers aren't reducing their prices, what steps can consumers take?
Many motorists are choosing to downsize their vehicles - cars with smaller engines are not just more fuel efficient and generally better for the environment, but they are also subject to lower car insurance premiums because their drivers are less likely to be involved in high-speed accidents.
If you don't want to leave your vehicle behind then pay close attention to how you drive it. Driving safely and avoiding accidents can help you build up a no-claims discount - potentially slashing premiums by around 70 per cent after five years. Avoiding driving convictions too will pay off - not only will you avoid fines for speeding and reckless driving, but you will avoid insurers heaping as much as 74 per cent on to your annual premiums.
Security is also vital. Many insurers offer discounts if you install an approved alarm and immobiliser, while nearly all insurers include discounts for parking in a garage overnight. If you have the cash to hand, it's also worth paying your premiums up front each year as this will cut out monthly interest charges.
The number one way to save however is to compare car insurance online - most car insurance providers offer their most competitive deals through the internet so use a comparison website to shop around at renewal time. |
No comments:
Post a Comment