So, you’ve bought your brand new touring car. After you’d spent hours browsing through showrooms and websites, after you sat patiently in the driver’s seat, feeling its contours with your (hands) (fingertips); finally arriving at that decision which would dictate the rest of your life… an exciting time for sure!
But then that sinking feeling sets in. The one where you realise that the list price of your car doesn’t include road tax, insurance or breakdown cover.
Not to worry! Here are 10 simple ways to save money on your touring car insurance premiums.
10. Shop around
The first and most obvious tip: shop around. There are lots of different car insurance companies out there and they’re not all the same. Some offer better deals than others, so by simply moving your business to a new company you could instantly save yourself hundreds of pounds a year. Car insurance comparison sites can really help with this as they make the whole process a lot easier.
9. Drive safely
In much the same way as you can be rewarded with cheaper petrol if your driving style is efficient, companies often give financial incentives to drivers who do not make any claims or have been driving responsibly for many years. This can range from simple ‘good driver’ discounts to big fat cheques for thousands! So drive safe, drive responsibly and save some money.
8. Watch your speed
Yes, yes, you’ve heard it all before but speeding tickets are expensive and can really screw up your insurance premiums if you rack them up. If you keep within the legal limit (and I mean within – no cheating!) then not only will you save money on your speeding tickets but your insurance will thank you too.
7. No speeding, no phone calls
While we’re talking about speed limits, did you know that if you are caught driving at over 100 mph then not only can you (quite rightly) expect a serious fine and points on your licence but the cost of your insurance policy will usually more than double, regardless of whether you’ve had previous speeding tickets or not? This is because high speed driving dramatically increases the risk to both yourself and others on the road. So drive sensibly… no speeding, no phone calls.
6. Make sure your car is insured
This one sounds stupid I know, but it happens all of the time. So, go on then… how many of you have ever had to leave your car somewhere for a couple of hours? You know what I’m talking about – when you get off the train or bus and are waiting for a friend to turn up so you can drive home. Or perhaps you’ve got some shopping to pick up and you have to leave your car on a busy road for a few minutes while you pop into the shop.
In these circumstances it is absolutely vital that your car has third party insurance cover, otherwise if someone were to drive into your stationary vehicle they could not only sue you but claim compensation from your insurance company as well! It’s also worth remembering that if your car is parked on someone else’s property, whether it be at work or in a supermarket carpark, you will need to tell your insurance company.
5. More than two cars on your policy?
This one is an absolute must! While some insurance companies may allow this for an additional premium fee, the big savings are to be made by sticking to one car per policy. This is because the insurance company sets a discount based on how many cars are insured under one policy – so if you have two or more cars insure them together and make some big savings!
4. Pay in full, not monthly
Many companies offer discounts for paying your car insurance premiums in one lump sum as opposed to monthly installments. For example, if you paid for your car insurance by direct debit from a bank account and always managed to make your payment at the end of the month you’ll know that this typically costs a bit more than paying by cash or credit card due to a small premium fee charged by the company.
This means that if you are paying monthly installments, try paying in one lump sum instead. This way not only will you receive the discount for making a single payment but you’ll also save money on the small charge made by your insurance company – it’s win-win all round!
3. Look after your car
If any of us were to put our hand up and admit to smashing or crashing our car we know we’d be taking a shot straight to the hip pocket. So how do you avoid this? Well, make sure your car is in good condition and pay any repairs as soon as possible (this usually saves money anyway), but also consider getting additional cover such as “accident forgiveness” to ensure that you won’t be hit with a premium price hike should your car break down due to wear and tear.
2. Switch insurers for even more savings
If you’ve followed all of the above tips but are still struggling to make ends meet, why not take a quick look at some other insurance companies? While shopping around can be a little time consuming, it could make all the difference to how much you pay for your car insurance – so dig out those old quotes and see what has changed over the past few years. Remember though, one of the most important things is that the insurance company is reputable and trustworthy. So do some research into their financial standing before buying a policy to ensure that they are the right company for you.
1. Don’t drive like an idiot!
Of course, there is no better way to save money on your insurance than by avoiding accidents altogether… so drive sensibly and safely at all times – just because there’s no police officer watching you doesn’t mean that you’re not being watched! Driving smoothly and slowly will not only help you avoid accidents, but it’ll also save fuel and reduce your chances of being involved in a crash. All this means that not only will you save money on car insurance, you could also receive a lower road tax bill too!
● When making any claims to your insurance company, make sure that all the information is correct. For instance, if you are taking your car to be repaired ensure that it is taken to the right place otherwise problems may arise later on.
● If your insurance company sends out an independent repair centre or a repairer make sure that they are not trying to rip you off. The best tip would be to find a garage yourself that has good reviews and then give the details to your insurance company.
● If you have been involved in an accident it is likely that your car will require repairs, but do not let the garage try to charge you for unnecessary work or repairs – this could end up costing you even more! Always make sure that any quotes are checked over by yourself or a family member to ensure that the work is necessary.
● If you are in any doubt about anything when it comes to your car insurance then do not hesitate in calling up your company for clarification!
How much will I need to pay for my Touring Car Insurance?
The amount that you will need to spend on your Touring Car Insurance depends upon a range of factors including the cost of your car, your age, location and driving history.
I am not very good with cars; should I still buy insurance?
Everyone has to start somewhere when it comes to understanding how their car works, so buying insurance is a good way to start learning about how things work. Also by having your car insured you have the peace of mind that if something goes wrong then you will be covered!
I’ve never made a claim before; will this effect my Touring Car Insurance?
It is certainly possible that making an insurance claim may increase the cost of your policy in future. However, you shouldn’t be put off from making a claim if necessary as it is important that you and your car are protected at all times!
I am under 25; can I still get a good deal on my Touring Car Insurance?
Yes, it is certainly possible! Whether you are under 25 or over 100 the best way to make sure that you get a good deal is by ensuring that your vehicle is well maintained and serviced regularly.
What happens if my car breaks down?
If your car breaks down then it will usually be deemed as being off the road until it has been repaired. This can affect your insurance policy if you have included any type of no claims bonus, so make sure that you keep in contact with your insurer!
As You Can See
What are your thoughts on these 10 practical tips to save money on touring car insurance? Comment below and let us know what you think. We’d love to hear from our readers!