The used vehicle retailer Swansway Motor Group has shared a tip that can help motorists save hundreds on the cost of insuring their car.

Due to rising labour and spare parts costs, drivers have been paying increasingly high figures to keep their car legally covered on the roads.

However, a spokesperson for Motor Match recommended that drivers looking to reduce the cost of their car insurance premium consider where they park their car carefully.

They advised: “Where you park your car can significantly impact your insurance premium. Parking on a driveway is often perceived by insurers as safer than street parking, which is more susceptible to theft and accidental damage.

“Informing your insurer that the vehicle will be parked in a relatively safe location can lead to more favourable rates. It’s a simple adjustment that can have a meaningful impact on your costs.”

Whilst it may sound trivial, being particularly selective about where a driver parks when they are at work or overnight can have a serious impact on the cost of insurance.

In most cases, insurance companies prefer drivers who are able to store their car inside a garage or behind a locked gate, since there is a much lower risk of thieves breaking into the vehicle or other road users causing damage.

Drivers who typically park on the street could also save some money by renting a driveway or garage, with various online services allowing them to do so in their area on a monthly basis.

Nevertheless, Motor Match’s spokesperson suggested that drivers are as accurate as possible, else they risk a number of issues that could leave them out of pocket.

They added: “However, being as precise as possible is crucial because inaccuracies could lead to significant consequences.

“If you provide false information or fail to accurately answer your insurer’s questions – a practice known as non-disclosure – you may face several repercussions.”

In many cases, if a driver attempts to make a claim and the insurer discovers that any information supplied was inaccurate, they will refuse to pay out, meaning the motorist will need to pay full price for any repairs that are required.

However, in some cases, the insurance company will charge drivers an additional fee for giving inaccurate information and may even cancel the policy.

The latter can also have a significant impact on the price motorists have to pay for future insurance, with drivers needing to tell any other company that they have had a previous policy.