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Popular car insurance hacks debunked including parking in a garage & buying low-mileage motor – it could cost you MORE
It's a common misconception that simply buying a low-mileage motor will save you.
AN EXPERT has debunked a number of popular car insurance reduction 'hacks' that many drivers have started following.
With insurance premiums skyrocketing, car owners are increasingly keen on finding new ways to cut their insurance costs - including one that's actually illegal and could "have severe consequences."
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Brits scrambling to find ways to lower their car insurance should first heed the advice of Darren Miller from - who picks out some of the most common misconceptions about reducing premiums.
Parking in a garage means cheaper car insurance
Perhaps one of the most commonly known ways of lowering car insurance premiums is by parking your motor in a garage - instead of on the street outside your home.
However, while it is true that where you park can influence premium costs, it also varies widely.
Darren said: “Parking in a driveway may be seen as safer due to less manoeuvring involved compared to entering or exiting a garage but insurers may view risks differently.
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“It's important for drivers to compare quotes for both parking options to determine the most cost-effective solution for their situation."
Lower mileage means car insurance will be cheaper
It’s a strong belief that having a car with lower mileage automatically means lower insurance premiums - but this is a common misconception.
While mileage can affect premiums, other factors also play a role.
Darren said: “Drivers with lower mileage may still face higher premiums if they primarily drive during peak times or on unfamiliar roads, increasing their risk profile.
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“It's important for drivers to realise that insurers consider various risk factors when calculating premiums, and mileage is just one aspect."
Cut car insurance costs and save money
Putting the policy in a parent’s name
Martin Lewis recently warned young drivers they could accidentally commit fraud in a desperate attempt to save money on their car insurance - by adding a parent as their car's main driver.
Darren backs up this warning, and said: "Fronting, the practice of naming an older or more experienced driver as the main policyholder to lower premiums, is illegal and can have severe consequences.
"While adding a parent or experienced driver as an additional driver may influence premiums, misrepresenting the main driver's identity is fraudulent.
“Insurers assess risk based on accurate information, and fronting undermines this process.
"It's important for young or first-time drivers to explore legitimate ways to reduce premiums, such as telematics or black box insurance."
New cars are more expensive to insure
Many drivers will believe that owning a new car will also mean insurance is more expensive.
But while newer vehicles may have higher replacement costs, they often feature advanced safety features that can mitigate risks and lower insurance premiums.
Darren added: “Additionally, factors such as the make and model of the car, as well as the driver's age and driving history, are significant in determining premiums.
"It's important for drivers to consider multiple factors when assessing insurance costs for new cars."
Eight tips to save money on car insurance
According to SheTalksCars
- Buy in advance - 23 to 26 days before you need cover is the sweet spot
- Add a named driver - even a learner can knock money off
- Try different parking places - a garage isn't always cheaper
- Choose the right job title - make sure they are always accurate
- Shop around - comparison websites are your friend
- Pick a multi-car policy - share it with others in your household
- Add your licence number
- Pay annually rather than monthly - save yourself interest payments
Negotiating can help
Think you can talk your way into a better car insurance deal? Think again.
According to Darren, negotiating car insurance premiums is a widespread misconception among drivers.
He said: "Unlike other purchases where negotiation may be possible, insurance premiums are typically calculated based on risk assessment.
“While different insurers may offer different rates, negotiating a lower premium with your insurer is generally not an option.
"However, drivers can explore cost-saving measures such as adjusting coverage levels and leveraging available discounts to potentially lower their premiums."
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It's not all bad news though, as another car insurance expert has revealed the "ideal window"; to renew your policy and save £100s while you're at it.
Elsewhere, Wheeler Dealers host Mike Brewer has revealed the most important rule for car owners to save their motor from "decaying."
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