Car insurance prices have soared in recent years – with motorists facing hefty bills. Here’s how to bring them down using a “little-known” trick
If you own a vehicle, you might want to know this secretly not-so-known life hack.
Motorists have been encouraged to utilise a “little-known” trick to cut their car insurance by £310 annually. An average 18 year old pays £2,342 yearly for car insurance, whilst motor insurance costs have rocketed by over 81% across a decade, figures from the Office for National Statistics reveal.
But automotive specialists at Show Plates World have discovered a lesser-known “legal loophole” that could help drivers nationwide knock hundreds – occasionally thousands – off their yearly car insurance premiums.
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While the majority of motorists concentrate on age, postcode and car model when shopping around for insurance, few understand that something as straightforward as how they describe their job can drastically impact their cover costs. Want to save up up to £300?
Insurers utilise enormous databases containing historical claims information to evaluate risk. Amongst the numerous elements they consider, your profession has a remarkably significant influence.
Particular jobs, including delivery drivers, journalists, or chefs, are statistically associated with elevated claim frequencies, resulting in higher premiums. Conversely, roles regarded as lower risk, such as administrators or HR assistants, frequently result in considerably cheaper quotations, reports Birmingham Live.
Numerous online applications feature dropdown menus of professions, and that’s precisely where the chance emerges. Should multiple descriptions accurately reflect your employment, selecting the option that insurers consider less hazardous can reduce expenses – occasionally substantially. Your job title must still be honest and justifiable.
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Misrepresenting your role, such as claiming to be an “office worker” when you’re actually a delivery driver, can completely invalidate your insurance. Insurance companies also have the right to check employment details during a claim. If they discover that your occupation was intentionally misrepresented, they can refuse to pay out.
However, if multiple job titles apply to your profession, choosing the one that most accurately reflects your duties – while costing less – is entirely legitimate.
Motorists can test this for free using most insurance comparison websites.