How to reduce your car insurance costs (without sacrificing cover)

Many drivers pay more than they need to for their car insurance, either because they haven't shopped around or because they're unaware of some basic money-saving tips. The good news? You can significantly reduce costs without cutting back on the cover that protects you. Read on to see what affects insurance premiums and what you can do to keep them down.

What determines the cost of car insurance?

Insurance companies take many factors into account to set the price of your policy:

7 clever ways to reduce insurance costs

1. Compare prices before committing

Don't buy insurance out of habit. With COSMOTE Insurance, you can compare prices and cover from many companies, and clearly see what you're paying and why.

It's worth noting that 81% of COSMOTE Insurance users renew their policy on the platform, which demonstrates their satisfaction with the services received. Of these, 67% continue with the same insurance company, while 14% change companies, taking advantage of the ability to compare and find a better offer.

2. Opt for annual insurance

Annual policies are significantly cheaper than quarterly or six-monthly cover.

COSMOTE Insurance shows that the average annual insurance is up to 45% more affordable than the total price of 3-month policies over a year.

3. Choose a package that suits you

If you have an older or less valuable car, you might not need fire or comprehensive cover. Conversely, for newer vehicles, a more extensive cover could save you greater expenses in the future.

4. Maintain a clean driving record (Bonus-Malus)

If you avoid accidents, you maintain a “Bonus” and benefit from lower premiums.

Especially new drivers, by starting carefully, can see a noticeable reduction in their policy costs within 2 years.

5. Add only the cover you need

Choose cover like Roadside assistance or Glass breakage if you drive many kilometres, but avoid anything that doesn't make sense for your profile.

6. Look for offers and discounts

Some companies offer additional discounts if you are in uniform or a public sector employee. Also, at times they release beneficial offers, which if you manage to catch and take advantage of, can save you a fair bit of money.

How COSMOTE Insurance helps you save money?

The online platform of COSMOTE Insurance offers you:

• Insurance packages from the 18 largest insurance companies
• Package comparison in a table, so you clearly understand what you're seeing
• Adding and removing cover in real time
• Price transparency without hidden clauses

Conclusion

The cost of car insurance is not fixed; it is influenced by many factors and by your choices. With a little care and research, you can have full cover at a much lower price.

Take the first step.

Visit COSMOTE Insurance, check prices, customise cover, and find the policy that suits your needs and your budget.