1) Addition of an older driver to the policy
In case you have a younger driver in the family, a parent can lend a help by adding yourself to their insurance policy as a named driver. For instance he will not be burden by having to pay huge premium, due to his young age. For instance if he is 20 years old without any previous claims and is liable to pay £1,371.85 for driving a Ford Focus, that premium could be cut to £1,089.30 by just adding his parent of 45-years to the same policy. However, putting the parents name in the policy is not encouraged and is against the laws. The main driver of the car should hold the policy.
2) Shop for cheaper car insurance
One should always compare the prices offered by various providers as the insurance premium varies with every provider. This way you can opt for cheaper car insurance. A person of 45 years with no claims and £250 excess could pay £391.05 through provider Admiral for a ford focus. This same driver can reduce the premium amount to £199.83 with LV=.
3) Adjustment of the excess
The driver can reduce the premium by the means of excess amount. That is a driver in two tips will have to pay £226.97 a year through Swiftcover with a £100 excess, and the same will be reduced to £171.87 with a £500 excess. One should consider how far he can afford in the event of accident.
4) Adding a partner
A male driver can reduce his premium by adding his 45 year old wife. He can get his premium of £205.86 through Swiftcover to £182.83.
5) Lower your mileage
If you are not a driver who has to drive a lot then limiting the mileage will be a best option to reduce the premium. That is a driver will have to pay a premium of £202.73 a year if he drives for 10,000 miles a year, whereas if a person agrees to drive 5,000 miles in a year he will have to pay only £194.58 a year.
6) Annual payment rather than monthly
Large house of market value of £170,000, a rebuild value of £90,000 and containing contents worth £35,000 will be very expensive to get insured, thus the home owner can slash premiums from £118.79 to £107.96 by paying annually with Only Insurance. He can pay it yearly rather than making monthly payments.
7) Shop for home insurance
You can quote for best home insurance in the comparison websites. Insurance on Milton Keynes home with a £100 excess costs £193.90 through Marks & Spencer but just £88.62 with home quote direct.
Choose an independent provider for PPI
Payment protection insurance or PPI comes as relief in unstable employment environment but it doesn’t mean the payment for all odds. To make it clear, a £10,000 loan over three years with Nationwide, one will have to pay £354.14 lender’s standard PPI which total up to £12,794.04. But the monthly payments for the loan and PPI combined could be reduced to a £322.28 for a total repayable of £11,602.08 by buying the PPI independently from the cheapest provider on our PPI comparison tool.
9) Give up smoking
A smoker will need to pay £432 annually for a term policy of £100,000 over 25 years and the same policy taken by a non smoker will need to pay £215.52, so quit smoking and pay low premium.
10) Buy travel insurance independently
When one purchases travel insurance as add on to your travel holiday package, then you will be benefited. If a four member family takes a two-week trip to Spain in February would pay £45.99 for single trip travel insurance through Thomas Cook compared to just £11.05 through the cheapest insurer.
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