How Much Can You Save On Car Insurance?
Car insurance can be very expensive. No one would argue about that. Without car insurance it would cost you more to drive if you had an accident. Still, you don't want to pay too much for car insurance. So how can you save money on your car insurance premium?
Check deals from several insurance companies. Don’t fall for the headline that says they have the best insurance deal in town. Find out for yourself by shopping around. It's to your advantage to compare at least 3 quotes.
Find out how the insurance company is doing financially. Does the insurance underwriter have any complaints against them? How is their reputation for customer service? A good indicator of this could be seen on your initial visit. For example, did they take time to answer your questions or did they try to cut you off fast to make a quick sale? Taking note of these things could save you heachache later on.
Check car insurance costs for the car you intend to buy. Your premium will be based on the particular cars price, repair expenses, overall safety record, as well as potential theft possibility. Consider features that reduce the risk of injury or theft, such as daytime running lights or anti-theft equipment. Because the car insurance company may offer you premium discounts for a car with those features.
Consider paying a higher voluntary excess. It may sound odd. But if you increase your voluntary excessfrom £100 to say, £300, the cost of your comprehensive coverage would be reduced anywhere from 15 to 30 percent. A £1000 voluntary excess would save you even more, perhaps more than 40 percent.
Reduce coverage on any older car you may have. The rule of thumb is to multiply your premium by 10. If your car is worth less than that, think opting for comprehensive car insurance cover.
Buy home insurance and car insurance with the same company and you may get a reduction in your premium. And if you have more than one car, that may also get you a reduction. Don't be afraid to shop around.
If you drive far less miles than the average driver, ask about Low Mileage Discounts. The car insurance company may offer you for low-mileage discounts.
Other discounts may also be available. If you have no accidents or traffic offences for a number of years, you can get a NCB (No Claims Bonus) discount. A defensive driving course may also win you a discount.
Remove unnecessary items from your car insurance policy. Many brokers will attach items like roadside help to your car insurance package. This is a good thing, but most car insurance companies already offer this on a full coverage policy. You need full coverage when financing a new car.
As you can see, there are quite a few options for getting that premium down.
A final word; what works for you over the next few years may not work later, depending on your situation. Don't be afraid to be an alert consumer and reconsider your needs on occasion.
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