With motor industries around the world suffering as a result of the credit crunch, sales of cars and vans have seen a decline in recent months as more of us have to tailor our budgets in reaction to the soaring cost of living.

Many of us are now looking to the used car market in order to find the vehicles we need to function in our daily lives. From the school run to the weekly carpool at work, our vehicles have become a necessity for the majority of us.

With the cost of car insurance quotes seeing an increase as a result of the credit crunch, many drivers are now becoming more conscious of their vehicles and the way they drive. When it comes to bringing down the cost of your insurance premium, there are a number of aspects that you should bear in mind when renewing your policy, and a number of steps you can take to ensure that you bring down the cost of your policy.

  • Age can play a part in the cost of a policy, young driver car insurance can be an expensive part of owning a vehicle at a young age. But by being careful when you’re driving and accumulating no-claims bonuses, you will be more eligible for discounts in the future.
  • Try and avoid driving convictions – speeding tickets and other offences will add points to your licence, which in turn will affect the cost of your policy.
  • Invest in some security for your vehicle – insurance companies are more likely to offer you a cheaper deal if you take steps to protect your vehicle from thieves and carjackers.
  • Try to pay off your policy in full. Whilst it may be tempting to make use of monthly payments in order to spread the cost, you may find yourself paying more than what you agreed upon when you took out the policy.
  • Research and shop around for an affordable policy. There are a number of methods for obtaining car insurance quotes – both online and over the phone – and with supermarkets and post offices offering policies nowadays; it has never been easier to find a policy that suits you.
  • If you’re looking to buy a new car, consider the make and model of the vehicle you’re buying. Also consider the price of your vehicle when deciding which type of policy you want, would it be cheaper to insure an older vehicle for 3rd party, fire and theft rather than fully comprehensive?

About the author

David is an experienced web author based in the UK