When you consider fuel, maintenance and servicing, running a car isn’t cheap. And with the cost of living rising in the UK, there hasn’t been a better time to review your costs to see where savings can be made.

That’s why this weeks blog is all about how to lower your car insurance premiums.

Build up a no claims bonus

You will earn a no claims bonus for every year you are driving without a claim. Unless protected, your NCB will be reduced if you make a claim, so consider whether you should be claiming for minor repairs which you could cover the cost of yourself.

Compare policy types

Third party policies only provide the minimum level of cover, but are not always the cheapest. Because third part policy holders make more claims, there is an increased risk and therefore an increased premium on these policies. As a result, comprehensive cover which is the highest level of insurance could work out cheaper for you.

You could also get a device fitted to the vehicle for a telematics policy, which will monitor your driving and help reduce premiums if your driving is seen to reduce risk.

Use a named driver

If you are a young or inexperienced driver, adding a more experienced driver to your policy will help reduce premiums as you will be seen to be spending less time behind the wheel yourself.

Look at low insurance groups

There are 50 insurance groups, and the lower the group, the lower the insurance premium. Smaller, less powerful cars tend to be in the lower groups, so look out for this when choosing your vehicle. Modified cars also tend to cost more to insure, so it would be best to avoid them.

Give correct details

Milage, where the vehicle is being stored and class of use are things that will drive your insurance premium, so make sure these details are correct otherwise you could be paying too much for your cover.

Don’t let your policy automatically renew without shopping around

Many insurance policies are set to auto-renew. Try to avoid this as sometimes your renewal premium may not be the cheapest, so it is best to shop around before confirming the renewal of your policy.