Slash your car insurance rates by as much as £500

As UK motorists continue to face rocketing motor car insurance costs, industry experts have come forward with a few simple tips that could result in as much as a £500 reduction to their car insurance rates.

Cheap car insurance is truly becoming harder and harder to find in the UK.  However, experts say that significant savings could be as close as right around the corner by taking simple steps such as adding an additional driver to your insurance policy.

The reasoning behind a reduction for an additional driver is simple; having more than one driver on a policy assumes that the two names are part of a couple, and will thus be less likely to be out at all hours partying. Adding a second driver has been found in many instances to reduce annual premium prices by at least £200 .

Many motorists have found that purchasing an older car is also a good way to cut insurance costs.  Some specialist insurers will consider a car ‘vintage’ as long as it’s at least 10 years old, which can add up to as much as £440 in annual savings.

Other tips included haggling with your insurer.  While you may not be able to get a reduction to the price, but many policyholders have had success in dropping ‘extra’ charges such as cancellation fees from their premium.

Other ways to save were found to be as simple as describing your employment as accurately as possible.  In one instance, after correcting their job description from nurse to paramedic, one policyholder saved £50 on their annual policy.

Finally, those who have access to an additional vehicle, such as a company car, can also benefit from lower insurance rates as well.  This is because insurers will interpret motorists with access to another such vehicle as having more experience behind the wheel than a driver with only one car.

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