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Five tips to save you money on your car insurance

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Swinton Insurance reveals five ways to cut the cost of your annual car insurance premium.
Whether it’s time to renew your car insurance, or you’re in the process of buying a new motor, the overall premium you pay each year can make a large difference to the cost of ownership.

While it remains essential to have the right cover for your needs in case something does go wrong, there are things you can do when it comes to setting up your insurance to ensure you don’t pay too much.

1. Factor in insurance from the start

Buying a new car can be very exciting and it can be easy to be seduced by the upfront price. However remember this does not, in most instances (some new cars come with optional one year insurance), include the cost of insuring it on the road. The more valuable and expensive your car, the more expensive it is likely to be to insure.

2. Steer clear of modifications

If you are considering modifying your car, or buying a used car that has been modified, it’s important to check what effect the extras will have on your premiums. Souped up engines, advanced in-car entertainment systems, and even leather upholstery can all bump up costs. Once you have an idea of the difference in premium from a more standard model, work out what the total cost will be over the length of time you expect to own the car. This will tell you roughly what the true cost is and knowing this can help you make a more informed decision about whether the mods are worth it.

3. Honesty is the best policy

However tempting it may be to shave off a few pounds off your premium by fibbing about the details, it could turn out to be a false economy. If you get caught being dishonest, your insurer has the right to decline claims, cancel your policy or charge you the correct premium as a lump sum. If your policy is cancelled, you’ll need to declare this on future applications, which can make finding affordable insurance more difficult in the future. So the wisest move is to pay safe and be completely honest, that way you can be sure you have the right level of cover for your needs.

4. Get to grips with your mileage

How far do you drive in a typical year? It’s a difficult thing to guess off the top of your head, but that’s what a lot of people do when they apply for cover. Mileage can play a part in setting your premium, so if you overestimate you may end up paying more than you need to. On the other hand, if your guess is actually way under the realistic distance, it means you may not be covered. The best way is to look at the odometer in your car to check how many miles you clock up in a known period of time and use this to work out how far you really go. Another easy way is to check your service history document, as these should include yearly mileage.

5. Park you car off the road if possible

Where your car ‘sleeps’ can play a part in setting your premium. Owners who use a driveway or garage could pay less on average than those who keep their car parked on the street. However if off-road parking is not an option, don’t be tempted to lie as this could lead to you not receiving a pay-off if you do need to make a claim.

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