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3. Increase your "excess" for cheaper car
insurance
Many insurers will insist on a minimum amount that you have to contribute to any claim.
This is the amount that you pay first out of any claim
- referred to as an excess payment. Generally, car
insurance companies ask mature drivers to contribute £50 or £100 towards the cost of a claim
- while younger drivers can often be asked to pay more.
You can reduce your premium substantially by offering
and agreeing to pay a higher excess. Agree to a higher
excess, say £200 instead of £50, and you could reduce
your premium significantly! Many people, particularly those who have had their insurance policy for a long time, have never considered whether they ought to vary their
excess. If you have a good driving record, and are prepared to increase the risk of paying a larger amount in the event of a (hopefully unlikely) claim,
you can save some money by agreeing to a higher excess.
..... back to Cheap
Car Insurance Tips
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