Anyone who owns a vehicle does not want to be paying over the odds for their insurance premium. The cost of car insurance can take a large chunk out of your motoring budget but if you shop around and take the following 10 top tips into account – you may be pleasantly surprised at just how much you can lower your annual quote:
1. Shop around
Do not automatically accept the figure on your renewal premium – research has shown that on average that you can save a third just by taking the time to shop around. This is why it is great to compare multiple insurance quotes and get the lowest rate according to Autoinsurance.org.
2. Limit the number of drivers
The less people you cover on the policy – the lower the risk and the lower the cost!
3. Park it in the garage
A large number of garage owners don’t use it for the purpose it was intended i.e. parking their car! Keeping your car locked in your garage can take up to 10% off the cost of your premium.
4. Install a black box
If you know you are a safe driver and are willing to prove it then you could pay less for your car insurance cover with a black box car insurance policy. Your insurer simply fits a small box inside your car which they use to track your driving (braking, cornering, speed etc) via GPS and offer you a personalized quote based on your driving habits.
5. Install a GPS tracker
GPS trackers help to lower your car insurance because they enhance security in that they offer theft prevention as well as theft solution features. GPS stands for Global Positioning Technology and this satellite technology works out exactly where your car or vehicle is if it is stolen. You can visit this site and check out some of the GPS tracker devices to suit your needs.
6. Ask for a higher excess
If you are prepared to pay a higher excess (in the event of a claim) this will have the effect of reducing your premium.
7. Agree to a mileage cap
Cars that spend less time on the road are less likely to be involved in an accident. Roughly speaking a 12,000 mile yearly cap would save up to 10% on your insurance premium.
8. Buy online
Many insurance providers offer a discount simply for buying online. In a competitive market place many car insurance providers are willing to offer an introductory discount to get your business even if you haven’t built up any no claims discount. What’s more, choosing to buy direct can save up to a whopping 30% which is usually paid to intermediaries.
9. Third-party cover is not always cheaper
Many drivers are tempted to simply go for third party cover that only covers the cost of damage to another’s vehicle/property or compensation for injuries. However; the insurer may then assume you don’t care as much about your own vehicle and are therefore more likely to have an accident.
10. Don’t pay by direct debit
If you pay for your premium monthly; although it may feel more manageable, it will add up to 25% to the cost of your car insurance in the long run.
With all these tips, you’re sure to be able to save on your insurance costs, even if you just choose a few.