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The prospect of buying a car is exciting. You’ve saved up, weighed up your options and made your choice – but you’re soon faced with another problem: how to insure it without breaking the bank? Insurance can be expensive, even if all you want is a car that is reliable and affordable. 

But don’t worry – there are ways to make sure your premiums don’t become too much of a burden. Whether you’re a young driver looking for a great deal on their new car insurance policy or an experienced driver in need of an update, here we’ll take you through some clever tips and tricks to help save on your car insurance premium.

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Shop around using a temporary car insurance policy

If you’re still shopping around for the best deal on an annual insurance policy, then taking out a temporary car insurance policy might save you some cash. A temporary car insurance policy typically provides comprehensive cover. It can be arranged in minutes, is super flexible, and can also last anywhere from an hour to a few weeks. Comparing car insurance might seem like time you’d rather spend doing other things, but with our guide to comparing car insurance, you can get it done double-quick.

Short term car insurance basically gives you the breathing space to shop around for the best insurance deal out there. That means you don’t have to take out the first car insurance policy you see just so you can drive your new car. You can take your time and explore the options available to you and make an informed choice.

Take out a larger excess

One of the most effective ways to save money on your annual insurance policy is to take out a larger excess. It may seem counter-intuitive at first, but opting for a higher excess means that you could be saving money in the long run by paying lower premiums. This is because insurers are taking a smaller financial risk when they insure you, and as a result, they are able to offer you cheaper premiums.  

But choosing how big an excess to take out isn’t something you should do without careful consideration. You’ll also want to make sure that if an incident happens and you need to make a claim, you have enough money in savings available to cover the full amount of the excess.

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Consider a black box policy

Black box insurance is an excellent way for drivers to save money on their annual car insurance policies. By tracking your driving behaviour, insurers can reward careful drivers with lower premiums. This means that if you’re a safe driver and consistently drive in a responsible manner, then you could end up paying significantly less on your car insurance policy. 

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Only claim when it makes sense

To be clear, you should always notify your insurer if you’ve been in an accident. Not notifying your insurer could invalidate your policy. However, notifying your insurer is different from making a claim. 

If you do have an accident or incident, assess the damage before deciding whether to make a claim or not. If it’s minor, like a small scratch that can be buffed out, it may not be worth claiming as this could affect your no-claim discount and drive up the cost of your premium.

Saving money on your car insurance doesn’t have to be hard

Shopping for car insurance doesn’t need to be expensive. By opting for a higher excess or considering a black box policy, you can save yourself some serious cash. 

Plus, flexible cover options like temporary car insurance are a great way to get the breathing space you need to find the best deal out there. 

With some research and shopping around, you may discover that you can save substantial amounts of money on your car insurance premiums.