How to Cut Your Car Insurance Premiums in Half

Fancy reducing your car insurance premiums by more than 50 percent? It can be done. A price comparison website has undertaken research into simple steps a family can take over the course of a year to reduce the premiums on a range of insurance products. Though the survey took into account payment protection, life, travel and home insurance products, by the far biggest savings could be achieved with car insurance.

The most crucial step is to shop around with an online car insurance comparison tool. According to the study, a 45-year-old male driver with a Ford Focus and five years' no-claims could pay as much as £1,458.63 through provider Marker Study Group. However, the same driver using a comparison website could pick up a policy for just £202.73 through Swiftcover. That's not just 50 percent off - it's more than a 70 percent reduction.

Admittedly the savings for you may not be this extensive. Car insurance by its very nature is variable and influenced by a number of factors including your personal circumstances and the car you drive. However, it's clear that if one driver can slash more than £1,000 off an annual premium just by switching providers it's well worth taking a look to see how much you could save by following a similar approach.

Indeed there are several other ways to save on car insurance too. For example, if you are a younger motorist you could add an older family member to your policy as a named driver, potentially saving more than £280 a year. Changing your policy excess from around £100 to £500 could cut your premiums by more than £50 and adding a partner to a policy could also reduce your payments by more than £20.