Once you’ve added another car to your family fleet, it’s normal to start spending more money! With double the miles come double the motoring costs, especially when you and your spouse have separate commutes. (Disclaimer: This article contains spons0red content, meaning we may receive compensation from the products or services mentioned.)
Whether you’re saving up for something special or simply trying to make your daily routine more affordable, here are some top tips for saving money on motoring costs as a family.
- Understand multi-car insurance
There’s a more straightforward option than keeping separate insurance policies on each of your family cars. Multi-car policies allow you to sort all your car insurance needs out with one insurer, often under the same policy.
The convenience of saving time and effort by having just one policy isn’t the only perk. Families choose multi-car insurance for cost savings alongside favourable rates for adding new cars in the future. Whether you’ve got a teenager learning to drive or you’re planning an upgrade, this cover option could suit your family perfectly.
- Compare insurance providers
Comparison platforms offer invaluable insight to the typical rates on the market. Going back to the same policy – or worse, allowing it to renew automatically – excludes you from the best deals for the level of cover required.
Prices change with market trends and road safety statistics, but it’s worth keeping an eye on the changes over time. Compare quotes online to find cheap insurance or call providers directly to see if your previous price can be negotiated down for a better deal next year.
- Discover discounts and bundles
Remember, loyalty pays off. If your family has been insured with a particular provider for a number of years, you could be eligible for no-claims bonuses and certain membership discounts.
Building a broader insurance product with add-on services and bundles could lead to additional savings. For example, if your home insurance is costing more than you’d like it to, why not see if your car insurance provider can offer a similar level of cover? Combining the two could mean a lower price.
- Keep your vehicles safe
Looking after your vehicles matters when it comes to saving money on your insurance. Along with regular servicing, you should ensure to book your annual MOT in good time and address any problems immediately.
When your insurer can see a strong record of reliability, you could qualify for lower premiums. Additionally, insurers will be more likely to offer a favourable quote if you store your vehicle in a safe place overnight – particularly if it’s a luxury car.
Use approved garages and install home security systems for an extra layer of protection that could lead to attractive discounts.
- Stick to good driving habits
Finally, don’t forget that the way you drive could influence your quote for insurance! This is especially true for drivers who choose a telematics policy, whereby a small device tracks movement, speed, and location.
This can work in two ways. With careful habits, including sticking to the speed limit, stopping slowly and driving outside of peak times, you can save money. But if your metrics demonstrate risky driving behaviour, you could be charged more. It’s a good incentive for new drivers in the family.
Lower mileage means lower premiums too. No matter your policy, you should always try to demonstrate a sensible and proactive approach to your vehicle use.