Tips to lower car insurance as prices rise 18 percent in three months

The insurance price comparison website Confused.com has revealed that car insurance in the UK has risen by unprecedented levels.

According to the company, in June 2023 the average cost for a 12 month car insurance policy was £776, an increase of £119 since three months prior.

Louise Thomas, a motor expert at Confused.com explained how the rise in prices can affect motorists.

She said: “Car insurance has quickly become one of the biggest expenses for drivers. If prices continue at this rate then there’s no doubt drivers could be priced off the road, as they battle with other rising costs too.”

“But what we do know is that many drivers were able to save some money when it came to renewal. And shopping around was the key to this.”

However, as prices continue to rise, Confused.com also gave drivers some tips on how to lower the cost of their next insurance policy.

Louise explained that you are more likely to save money by looking at policies from different insurance companies, rather than simply renewing the current one.

She said: “The key to this will be shopping around and seeing what the best price out there is. It’s a competitive industry and we’re confident that switching will result in savings.”

In addition to this, Confused.com also recommended making sure you are accurate with your mileage, as many policies assume the fewer miles a driver covers means a lower risk of accidents.

However, the company continued, it is always worth checking the prices of policies with different mileages, as some insurance providers also believe those who travel very low miles may also have a high risk of accidents.

Another way to lower your car insurance is to pay for it annually rather than monthly, as companies always charge interest for spreading the cost of the payment. 

Confused.com added that you can save money on the policy by increasing your voluntary excess, the amount of money you pay towards an insurance claim.

Nevertheless, they also advised drivers to make sure they would be able to afford the excess, in case an accident occurs. 

Finally, the company also recommended providing to the insurance provider that you are safe by fitting security features that would make the car harder to steal, such as an alarm, dashcam or steering wheel lock.