Bringing down the cost of your insurance
Here are the top 10 ways to reduce your car insurance premium, according to financial adviser Bob Quinn of the myrecession.ie website:
> Buy your policy online. Many online insurers apply significant discounts for those who complete the process online.
> Insuring your spouse/partner as well as yourself on your car may reduce the premium by as much as 12.5pc.
> Declaring that your spouse/partner currently has a car insured in their own name or that they have the full-time use of a company car can qualify you for a discount of approximately 20pc with many insurers.
> If you are short of a full five years' no-claims bonus in your own name, previous claims-free experience as a named driver on another policy (e.g. spouse's car, family car or company car) can help you make up the shortfall. This could save you up to 10pc for each additional qualifying year up to the maximum of five years.
> Security features such as an alarm or an immobilizer can reduce the premium.
> Discounts of up to 17.5pc are often available to Irish licence holders with no penalty points. A lower annual mileage can reduce the premium with some insurers.
> While comprehensive cover is preferred by most drivers, it may make more sense for very low value cars to choose third party fire and theft.
> Compare prices and reduce your car insurance bill.
> Online motor insurance quotation systems will automatically apply many of the discounts which are appropriate, but if you think you may be entitled to further discounts then request a call back.