Having your own car can be really fun, but it could also be expensive at the same time. Why? We are not really talking about the cost of the car here, but the cost of the car insurance. Is there any way for you to save money on your car insurance? The good news is yes, there are lots of them!
Here are the tips for you:
- Shop Around – If you would like to renew your cover, you can save if you shop around for the best deals. However, you need to be very careful. Keep in mind that you need to ensure that you are comparing different covers. Some policies may seem to be cheaper, but you may eventually find that you don’t have the same coverage level when you have to make a claim.
- Don’t Just Put Everyone in Your Policy – You need to make sure that only cite the names of regular drivers within your family. You can certainly add someone for a few days when they have to drive that car.
- No Claim Bonus Protection – It’s something you need to protect, as it’s the only best way for you to cut those insurance costs. This may simply increase the premium for a couple of dollars, but this simply fades into insignificance against potential loss of about 90% discount on a premium of a few more hundred dollars.
- Get Higher Excess – If you want to save on a car insurance, you should increase your voluntary excess. If you agree to pay more towards the cost of any repairs, it will surely bring down the premiums. In case you’re not the one at fault in an accident, the excess could be recovered. However, you must not be tempted to let it rise higher, most especially if you only have a low-value car.
- Secure the Car – You can fit an approved alarm, a tracking device of some sort or an immobilizer could surely attract discounts. Most of the new cars already come with these as the standard, so make sure that you check if you have them and do not forget to declare them.
- Discounts on Reduced Mileage – Some drivers can be eligible for about 10% discount if the estimated mileage is less than 5,000 in a year. Whenever you drive a little more than that, say, 5,000 to 6,000 miles, then there’s a 5% discount available for you.
- Get Multiple Policy Discounts – This is definitely an easy one, since you don’t need to do anything other than insuring everything else with the same insurance company. Your renters, homeowners, and other insurance policy for a second vehicle could easily qualify you for discounts. You need to speak with your agent and see if you can get multiple policy discounts.
If you would like to save money on car insurance, considering these tips can significantly help you out.