Experts say drivers can save £600 on insurance by asking three simple questions

Ruby Flanagan & Aaron Morris

20 May 2024 at 4:05 pm·2-min read

The cost of insurance is going up ad up for some -Credit:InYourArea

Experts have explained that drivers could save a small fortune when renewing their insurance by asking themselves three simple questions. The cost of insuring a vehicle has soared in recent years, with drivers expected to pay hundreds more when it comes to renewing.

Money Expert say that 50 per cent of UK motorists saw premiums pumped by £100 on the previous policy, but the experts have shared helpful ways of saving instead of spending. Speaking to The Mirror, Director at Money Expert, Liz Hunter, said that drivers should ask themselves three questions in the form of: "Do I consider myself a safe and confident driver? Am I comfortable with my data being collected? And do I rarely drive at night?"

If the answer to these questions is yes, then Liz suggests that you consider installing a black box - a small GPS tracking system which monitors your motoring skills. Relatively new, black boxes were initially designed for young motorists, but anyone can take out a policy no matter their age.

The British Insurance Brokers' Association say that a black box policy could shave 30 per cent to 60 per cent from your policy - and with Confused.com stating that the average premium sits at around £995 at present, this could result in savings of between £300 and £600 a year.

On the flip side, if you answered no to any of the aforementioned questions, your car coverage costs could increase through a black box device. Liz said: "While black box insurance aims to reward safe driving rather than penalise minor lapses, consistent risky driving could have consequences on both your premium and coverage.

"Regular harsh braking and acceleration – especially if this involves exceeding the speed limit – will bring your driver score down, meaning your premiums could go up significantly when it comes to renewal. Worst-case scenario? If your driving is considered dangerous, your insurer could cancel your policy altogether.

"This could also make it difficult to gain coverage from another provider."

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