3 Ways To Save Money On Your Insurance

A lot of hauliers use minibuses in their day to day business to transport staff so let us help you save money on your insurance premiums.

Whatever insurance you’re looking for, getting a great deal will be one of your main priorities.  And, minibus insurance is no different.  While it’s vital to get the right level of cover for your needs, securing the best price for this will help you and your organisation save money.

But, with insurance prices seemingly rising year on year, how can you get a great deal?  Well, there are a number of ways that you can help reduce the cost of your minibus insurance.  Here, we explain three easy ways you can help cut your minibus insurance premium.

Shop around

A survey in December 2010 by Virgin Money found that almost half of Brits didn’t compare insurance quotes before buying cover (a great site to do this at www.minibus-insurance.net) And, research published in the Daily Telegraph has shown that the average insurance buyer will accept a rise of 8 per cent in their annual premium before they switch to a more competitive deal.

Shopping around for insurance is one of the best ways to save money.  Heading online to a comparison site can help you obtain premiums from a range of leading minibus insurers in a matter of minutes.  And, considering that the Daily Telegraph has reported that ‘the Association of British Insurers (ABI) says you can save 35 per cent by comparing as few as five insurance providers’ you can often save money without spending hours trawling the web for quotes.

Choose a higher policy excess

Your excess is the amount of any insurance claim that you choose to pay yourself.  The vast majority of minibus insurance policies have a fixed ‘excess’.

For example, if your policy excess is £200, when making a claim for £1,000 you would pay £200 and your insurance company would pay £800.

When buying minibus insurance you can often elect to have a higher ‘voluntary’ excess.  This will typically reduce your insurance premium.  However, you should bear in mind that while a higher excess will reduce the cost of your minibus insurance you will have to pay more should you have to make a claim under the policy.

Restrict your named drivers to experienced motorists

While many minibus insurance policies will cover young drivers (typically under the age of 21 or 25), their inexperience may well make your cover more expensive.  So, you can reduce the cost of your minibus insurance by restricting the insured drivers to more experienced motorists or those with an excellent claims history.

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