Drivers have been offered a tip to help them cut insurance costs in a matter of minutes (Image: Getty)
Motorists looking to reduce their car’s running costs have been given a lesser-known tip that could cut hundreds off their .
Whilst the overall is beginning to fall, there are still many ways in which for cover.
Greg Wilson, CEO of the price comparison site , noted that a simple way for drivers cut the cost of insurance is by checking how many miles they are covered for.
He explained: “Our data highlights how mileage can be a huge factor in determining your . Those who rack up more miles are statistically more likely to be involved in an accident or face mechanical issues, which is why insurance costs could creep up with the added risk.
“If you’re someone who drives a lot, it’s important to keep this in mind when . It’s also vital to ensure that the information you’re inputting is accurate.”
:
Many drivers overestimate how far they travel in a year, causing them to pay more for cover (Image: Getty)
Whilst drivers should always try to avoid underestimating how many miles they travel when insuring their vehicle, it is all too easy to give a figure that is too high.
In many cases, doing this can drive up the cost of cover, with insurers generally expecting those who spend more time behind the wheel to have higher chances of getting involved in an accident.
A study by Quotezone highlighted that drivers covering around 4,000 miles per year paid an average of nearly £40 more than those travelling 5,000, meaning it is vital for drivers to thoroughly check quotes before they buy their next policy.
Don’t miss… [REPORT]
Greg recommended that all drivers keep an eye on their current mileage figures to get a better understanding of the distances they typically cover over the 12-month period.
He said: “It can be difficult to predict how many miles you’ll drive per year – the key is to keep an eye on it and update your insurance provider should your estimation start to change – failure to keep your policy updated could invalidate your car insurance altogether.
“It’s also important to help you find savings, if you predict you’ll do 5000 miles but in reality you do less than that, say 4000, then you could potentially save £40 a year.”
Nevertheless, drivers must always be honest to their insurer about how many miles they cover (Image: Getty)
Average car insurance premium for mileages:
- Under 1,000 – £520.74
- 1,000 – 4,999 – £528.60
- 5,000 – 9,999 – £569.47
- 10,000 – 14,999 – £581.54
- 15,000 – 19,999 – £609.68
- 20,000 – 24,999 – £634.90
- 24,999 – 29,999 – £636.32
- Over 30,000 – £800.95