MOTORING experts have revealed the six simple ways you can reduce the cost of your car insurance – and your loved ones can help you.
As Brits across the country grapple with the ongoing cost of living crisis, many will be looking for ways to make savings and drivers will be looking to shave a few pounds off their insurance premiums.
The experts at the International Drivers Association have compiled a list of ways some changes to your policy can save you significant savings.
It’s possible to save hundreds of pounds simply by customizing your job title.
Insurance companies store historical information about claims they have paid for in the past and analyze this data to make predictions about claims they may face in the future.
So if you choose a job title that is deemed high-risk when you apply, you will pay a higher price.
For example, a recent study shows that with an average annual premium of £420.70, if your current job title is ‘chef’ you pay among the highest premiums.
However, adapting your title of ‘chef’ could save you almost £120 as the average premium for this role is only £302.51.
The experts say: “It’s definitely worth trying out a few job titles before accepting an offer. Whilst you always need to make sure you tell the truth about your job, choosing an alternative job title that still suits your role can save you hundreds of pounds on your annual offer.”
If you’re in a relationship but haven’t tied the knot yet, you can save hundreds of dollars just by saying “yes.”
This is because auto insurance companies consider married people to be “lower risk” than single people.
Research shows that married drivers file less expensive claims than unmarried ones.
Therefore, insurers can offer a more attractive insurance premium if you have stopped.
Premiums can drop dramatically by as much as £200 for couples in their 30s, who make the most savings overall.
Even if you’re in a traditionally “high risk” insurance group, marriage can give you an edge.
While this may seem unfair, studies show that lone drivers are twice as likely to be involved in an accident behind the wheel than people who have tied the knot.
However, if you are not quite ready to marry but are cohabiting, some insurers offer special discounts for cohabiting couples.
Some insurers feel encouraged to do so because they assume you’ll spend less time driving alone.
The experts say, “While there are so many wonderful reasons to get married, an extra saving on your auto insurance is another added bonus.
“If you are getting married, remember to update your provider and send proof of your marriage license to ensure your policy is updated and you can take advantage.”
By simply registering to vote, you can lower the cost of your insurance, which is calculated based on a variety of factors, including your credit rating.