The simplest strategy to reduce insurance premiums is to accept a VOLUNTARY EXCESS (see above). An insurer's standard excess may be £100; if you meet the first £250 of any claim, you'll see a useful reduction in your premium. You're taking on a risk that the insurer doesn't have to cover, so you get a discount. But it's a gamble: you might have to meet the cost of a broken window after an attempted theft or a bill for repairing bodywork damage after a car park crunch.
Fitting SECURITY devices can also reduce premiums. Most insurers insist on Thatcham-rated equipment, usually an alarm. If you live in a high-risk area for car crime, it makes sense to fit extra security - it pays dividends when your insurance renewal is due and gives you peace of mind.
If you do a LOW ANNUAL MILEAGE - 5,000 miles or less - ask insurers if they offer reduced premiums for 'agreed mileage' restrictions.
Limiting NAMED DRIVERS keeps premium costs low. Ideally, just insure yourself to drive - adding your partner can add 10% to 15% to premium costs. And unless you're generously teaching a 17-year-old to drive, keep young drivers off your policy. However, twenty-somethings whose parents have a clean claims record can sometimes reduce their premium cost by adding a parent as a named driver!
The biggest saving comes from SHOPPING AROUND. There will be huge differences between the lowest and highest insurance quotes for the same car and driver(s). Phone direct-sales insurers and brokers, and use online brokers like motorquote.co.uk and screentrade.co.uk