Simon Read: Don't wait for car cover to fall - get a cheaper policy now

The boss of Direct Line, Paul Geddes, had good news for motorists when the firm announced its results last week. He said that the cost of cover will come down.

That's not an idle boast or the company trying to steal a march on its rivals. It's based on the fact that referral fees paid by ambulance-chasers have been banned from the beginning of last month.

The net effect of the ban is that there should be fewer claims from people encouraged to seek compensation for whiplash or other spurious injuries. That's because accident lawyers will find it harder to track down the details of accident victims.

Mr Geddes said the reforms should lead to lower premiums for all but, in particular, younger drivers. In fact premiums have already begun drifting down.

According to the latest AA Insurance Premium Index, the cost of motor cover has fallen 4.1 per cent over the past year. That's left the average premium at £746.75.

But hard-pressed motorists can reduce their own insurance costs now. For starters it could pay to slightly change your job title when applying. I was quoted a lower premium by describing myself as editor rather than journalist, for instance. Money Saving Expert has a useful tool at tinyurl.com/4n75a3 where you can see how different job titles can affect premiums.

Other savings can be made by increasing your excess, adding a second driver, becoming an advanced motorist, and more. The power is in your hands - use it!