Layla Tovey's blog : Insurance and Behind-the-Scenes Savings for those on Furlough

The behind-the-scenes costs that come with car ownership leave the biggest dent your wallet, use a car finance calculator to see what you can afford while on furlough. Below are some ideas that will help you in cutting costs on an expense you get when you own a car - insurance.

Considering Black Box Car Insurance

If you think you are a sensible driver and you are tired of having to pay a lot in insurance fees, then you should look at black box insurance. This is where a GPS device is going to be fitted in the car so that the insurance company can look at your driving habits, then adjust what you pay accordingly.

Black box insurance is there for new and young drivers who don’t want to pay high insurance fees, but more and more people are choosing this option because it gives them the chance of paying as little as possible for their insurance cover. If you are a sensible driver who follows the rules, you can save a lot by choosing black box car insurance.

Adding Experienced Drivers to Your Policy

Instead of insurance company charging more for another driver to be added on a single policy, they reduce the prices when an experienced driver with a clean driving license and no claim to your policy – especially if they work in a job considered to be the ‘pillar of the community’ (policeman, teacher, civil servant) – is added.

You can end up saving yourself a lot on insurance premiums when you add an experienced driver to your policy, but you should get their permission first. Before you commit to renewing or buying your annual car insurance, test by adding different friends and family to your policy. You should make sure you remain the main driver of the car.

Choosing Your Excess Wisely

When you see ‘voluntary excess’ on the application of your car insurance, you can be tempted to have it as small as possible. While there are advantages to having this number low, like not paying much in the event of an accident, you might be doing yourself a disservice because it is going to have an effect when you want to save on your car insurance.

When you increase your voluntary, your quoted insurance prices are going to fall, and this means you will save more. Sit down and see how much you can afford to pay out, then adjust the excess according to that figure. You might never even have to pay for the damage, which means you would have saved on your insurance that year.

Don’t Do it at the Last Minute

You stand to make a lot of savings by choosing to switch your car insurance three weeks before the renewal date. Insurance providers know many people will not bother with their car insurance until the last minute. This is why most of them will take advantage of this and increase their prices when people come close to their renewal date.

You can make a lot of savings by perfectly timing your car insurance renewal. Being organized in advance is going to help you make a lot of savings.

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