Insurance is a large portion of the cost of running a vehicle today.  With the credit crunch in full swing many of us are tightening our belts any way we can but car insurance is an unavoidable cost.  Many of us will pay monthly as we simply can’t afford to shell out a lump sum for the whole year, which means we could end up paying more overall due to the interest applied. 

While it pays to shop around for cheap car insurance, there are also things you can do to cut the cost of your current premium.  Leading online insurance broker www.motorinsurance.co.uk provides some handy hints on keeping insurance premiums down during the current economic turmoil.

·         If you have a garage or driveway make sure you use it – this could reduce your premium as your vehicle is deemed as safer here than parked on the street.

·         If possible, get a vehicle in a lower insurance bracket – these generally tend to be the smaller, less powerful cars and these are also cheaper to run!

·         Improve security – fit a steering wheel lock, alarm or immobiliser, and avoid modifications to your car – if you have certain modifications such as alloy wheels, this can add to your premium.

·         Keep annual mileage low – high mileage motorists are at more risk and pay higher premiums, and keep an accurate record of your mileage so that you don’t overpay.

·         Increase your excess – opt for the highest excess you can comfortably afford, the higher your excess the more you will save!

·         Enquire about combination discounts – quite often insurers will give a 10% - 20% discount for more than one car insured at an address.

·         Limit additional named drivers – adding more people to your policy could increase your premium.

·         Protect your no claims – it may be worth paying more initially to protect your no claims discount.  If you have full no claims, you could be entitled to up to a 60% reduction.

·         Shop around – comparison sites are great for comparing prices as they provide quotes on behalf of lots of different insurers.  www.motorinsurance.co.uk is one of these comparison sites.  Buying a standard insurance policy online will usually get you a better deal than buying over the phone.

Paul Cosh, Managing Director of www.motorinsurance.co.uk comments:

‘Everything is getting more expensive these days and during the current credit crunch people want to keep their premiums as low as possible. We always aim to find the best deal for our customers, whether it's finding the cheapest or most comprehensive cover to suit their needs.'