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7 tips on how to get cheaper car insurance

Getting insurance for your car costs money. Everyone likes to save money by spending less. Moving to a cheaper car insurance product annually can be a great idea if you do the necessary research. Whilst the adage “cheaper is not necessarily better” is true, there are many perfectly legal ways to lower the amount of premium you would otherwise pay on any car insurance package. Let’s go through some of these. 

  1. Choosing the Car Make and Model

    For those who have not yet purchased their car and who are not too choosy about the car they wish to drive it is a good idea to choose a model that falls into a low insurance group. These are the popular models of car. Insurance companies charge lower premiums for these because both spares and repairs are relatively cheaper compared to the more expensive make and models.

  2. Lower your Risk

    There are various ways to minimise risk. Insurance revolves around risk and if you can provide concrete proof that certain special circumstances that apply to you lower the risk to your car then insurers are likely to charge lower premiums. It is up to you the insured-to-be to highlight and prove the special circumstances to the insurance company.  These take various forms. Since the ordinary lay person is unlikely to be aware that such special circumstances are actually present it is advisable to engage a specialist broker to help you identify them

  3. Prove you are a Low Risk Driver

    Many countries have versions of additional driving courses that one can undertake after passing the ordinary road test. Some are mandatory for specific occupations whilst some are voluntary. These advanced driving courses are proof to the insurance company that you are a lower risk driver than someone who has no such certificate. Persons with endorsed licences for previous traffic offences or with previous insurance claims will be charged higher premiums. 
  4. Undertake Annual Valuations

    Most people are not aware just how important it is to have their car undergo professional valuation to ascertain its true value every year. As a car gets older and its mileage increases its value decreases. Such annual evaluations ensure the value of your car is adjusted downwards yearly. As a result your premiums are also adjusted downwards as they depend on the value of the car.

  5. Be Wise

    Amongst insurance companies and insurance brokers, are some unscrupulous ones who will try to sell you add-ons that you do not need. That is why you need to compare your car insurance premiums on our platform. Then there are some useful extras like breakdown cover or roadside assistance which might be cheaper to buy elsewhere than having them included in the main policy.

  6. Get Multiple Quotes

    There are many insurance companies offering car insurance and they charge different rates for the same types or classes or cover. So it is wise to shop around. Spare time to do so some research and get as many different quotes  from  as many different companies as possible. Compare the different  premiums charged for particular types of cover. One can get quotes online from insurance companies websites or one can go to the insurance companies offices in person. Shopping around is even more important for those over 70 those under 25 whose premiums tend to be higher because they are considered higher-risk groups. A word of caution here.

  7. Research and Compare

    Do not choose an insurance company merely because it offers the cheapest rates in town. Carry out some research into their reputation, otherwise you might end up dealing with unscrupulous insurance companies who will fail to pay up if and when the accident or misfortune occurs.

Categories: Life