Insurance can be a costly ordeal but these questions could help you save up to £600.
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The cost of insuring your vehicle has always worried motorists especially with reports of greedy companies ripping drivers off.
Over half of Brits had to fork out up to £100 extra on their premiums last year.
But there are ways to slash down costs of your insurance.
Liz Hunter at Money Expert has advised drivers to ask three essential questions before choosing a plan.
The questions are: “Do I consider myself a safe and confident driver?”, “Am I comfortable with my data being collected?” and “Do I rarely drive at night?”
If all three are answered with a “yes”, then the expert has recommended opting for a “black box” insurance.
“Black box” policies reward safe motorists for careful driving habits as they monitor acceleration, speed and harshness of braking, as well as mileage and the times of day drivers go out.
It is a relatively new type of insurance, mostly used by young motorists, who want to save up and prove they are safe on the roads.
But it turns out they’re not just for teenagers ripping up their L-plates – experts say they’re a money-saving boon for older drivers, too.
According to the British Insurance Brokers’ Association, black box can shave up to 60 per cent off your current insurance.
With premiums averaging at £995, this could help you save up to £600 in some cases.
But you should be confident in your driving skills if you choose black box insurance.
Prices are based on your driving score, and if you are a reckless driver or not careful, punishments could be severe.
If you speed, brake heavily or drive dangerously, it will lower your score and you get a warning.
Even doing 25mph in a 20mph zone could land you with extra costs or even a cancelled policy.
With many policies, more than one warning within a short period of time — 30 or 60 days — can lead to a fine or the policy being cancelled. The latter makes it very expensive to get insurance in future.
Liz added: “While black box insurance aims to reward safe driving rather than penalise minor lapses, consistent risky driving could have consequences on both your premium and coverage.
“Worst-case scenario? If your driving is considered dangerous, your insurer could cancel your policy altogether. This could also make it difficult to gain coverage from another provider.”
‘My premium was reduced by £120 within minutes’
SOCIAL media executive Rachael Warren was stunned to receive a renewal quote 50 per cent more than the previous year’s price.
She had paid £300 to insure her Kia Picanto with Hastings Direct in 2023. But last month she received her renewal quote and it was for £454.
Rachael 34, from Gloucester, said: “The new quote was ridiculous, considering I have eight years’ worth of no-claims.
“I headed straight to Compare The Market to get a better quote so I could use it as a bartering chip with Hastings.”
She discovered it would cost £350 to insure her car for another year with Tesco and she could get cashback on top through TopCashback.co.uk.
She rang Hastings Direct and threatened to leave unless it could give her a cheaper premium than the one she found. Rachael said: “Hastings backed down and cut my renewal to £334 within minutes.
“I would encourage everyone to haggle with their provider before making a switch.”
A spokesperson for HastingsDirect said: “We issue renewal quotes based on information we hold and would encourage customers to check their details and shop around.”