26th April 2022
How to Save Money on Car Insurance
Alternative Ways To Get Car Insurance For Less Money, Which You Might Not Have Considered.
Car insurance is a compulsory form of insurance, meaning if you own a car, you need a base level of insurance to drive it on the roads.
Car insurance may seem like just another expense, but there are ways you can lower your costs without compromising on coverage.
Pay in Full.
Paying your car insurance in full is normally always cheaper than paying via instalments. Car insurance companies sometimes charge interest when you pay your premiums in instalments, or they may sign you up to a loan agreement for your insurance which can add up to a large amount over time.
Increase Your Excess(es) (The Higher, The Better).
Your excesses are the amount of money you contribute to a claim before your insurance company steps in and helps with the rest. Car insurance companies charge fees known as “excesses” for covering you when you get into an accident.
The more you can afford to pay for your car repair, the lower your premiums will be. This is because it means that fewer claims are likely to be filed against you. The fewer claims you file, the lower your premiums will be
Your choice of car
Consider whether the car you want to own has higher or lower insurance premiums than another similar car. Car insurance companies charge more to insure cars that cost a lot of money to repair and replace. Cars equipped with anti-theft devices such as alarms and immobilizers may also lead to lower premiums.
Combining Your Insurance Policies.
The key is whether you have another insurance policy with them. Car insurance companies often offer discounts for drivers who have other types of insurance with them, such as home or another car insurance i.e., partners car
Know Your Car’s Actual Cash Value.
If you’re using an older car to save money on your premium, it might be wise to invest in know your car’s actual cash value. Basically, the amount your car would be worth if you sold it today. Car insurance companies use the value to determine how much they should charge you in the event of a total loss. Rather than guessing the value, have the car valued, or use an online valuation tool.
Be a Safe Driver.
Many car insurance companies offer no claims discounts if you have never received a traffic violation or if you have no claims filed against you this will work in your favour.
Car insurance companies usually introduce higher premiums when people make claims or receive penalty points so drive carefully, to the speed limit and pay attention.
Have The Correct Level of Cover.
Car insurance policies come in different forms, some policies only cover the driver and there are ones that also cover additional drivers. Car insurance companies usually charge more for insuring multiple people on one policy. Cover yourself and all drivers properly, as you might find that this could reduce your premiums.
Compare Car Insurance Companies.
Put simply, take some time to find car insurance and choose a car insurance provider that is right for you. It’s not just about reducing costs, but it is more important to ensure that you are correctly covered.
Car insurance companies offer many great discount options, and many car insurance companies want to save you money and may even be willing to negotiate, but it’s equally as important when you’re getting quotes from other car insurance companies that you protect your vehicle and everyone within it.
