1) Pick the right job title

It seems such an insignificant detail, but what you do for a living can impact on how much you pay for your car cover. This is because some professions are deemed a higher insurance risk than others. If your job title offers any degree of flexibility (perhaps you’re a journalist, but ‘editor’ or ‘writer’ would be just as good a description of your 9-5), then try inputting these different terms first to see how they affect the final price. That said, never be tempted to lie about what your job involves, as this will invalidate your insurance.

2) Avoid auto-renewing

Sure, it’s convenient to simply let your existing policy roll over to another year, but the downside is you’ll almost certainly lose out financially by being lazy. Switching cover doesn’t have to be a massive chore, and the savings will reward any extra effort. Sometimes you won’t even have to move to a new provider at all – if you find a cheaper quote online simply put in a call to your current insurer to see if they can match it. Write a reminder in your diary when your current policy nears its expiration date and devote half an hour or so to sweeping the competition for more attractive offers.

3) Use a comparison site

Comparing like-for-like cover is one of the best ways you can save money on car insurance. Get on a comparison site to see which provider offers the best deal tailored to your needs and compare this to any quotes you’ve received from companies that don't feature on these tools, like Direct Line and Aviva. Remember, if a deal looks too good to be true, it just might be. Policies that are significantly cheaper than the competition often don't provide as much cover. Read the details thoroughly before clicking through, and again before making your final purchase – occasionally the information displayed on the comparison site will have slightly different features to the final policy you’re offered.

4) Go easy on modifications

Can’t resist a flashy upgrade? Then be prepared for potential hikes in your annual premium.  Even the addition of something as seemingly innocuous as new alloys could mark you out as higher risk, and consequently see your costs increase. If you do want to make changes, it’s always best to chat to your provider first to see what knock-on effect there’ll be.

That’s not to say modifying your car is all bad. In fact, fitting security devices such as alarms, immobilisers or trackers is conversely a great way to save on your insurance, as providers will be reassured your vehicle is less likely to be stolen.

5) Be an early bird

Set a reminder on your phone: the optimum time to buy new car insurance is three weeks before you actually need it. That’s according to MoneySavingExpert.com, which analysed more than 18 million quotes to find out whether being organised and buying well in advance was actually worth the effort. Too early, their investigation found, and you could potentially overpay by £100s as there are fewer insurers returning quotes. However, if you leave it to the last minute you're likely to take an even greater financial hit, as some insurers have found a correlation between late-purchasers and higher rates of claims. The sweet spot is 21 days, which shows a degree of care and consideration that reassures providers you’re likely to be a good customer.^[1]

 6) Take care choosing your next car

Finally, if 2020 is the year you’re splurging on a new vehicle, be warned that value and engine size will play a big part in determining how much you pay to insure it. Imported cars can also attract heftier premiums, as parts will be necessarily harder and costlier to source. Before buying any car, it’s advisable to get a few insurance quotes first and factor them into your annual running costs.

Sources

https://monzo.com/blog/2019/11/15/how-to-save-money-on-car-insurance
https://www.confused.com/car-insurance/price-index
https://www.which.co.uk/money/insurance/car-insurance/how-to-find-cheap-car-insurance-a2w188j8m68j