Tuesday, February 21, 2012

How To Get Cheaper Car Insurance - 8 Easy Tips To Follow

By Jennifer Bowers

Car insurance is one of the most expensive costs involved in driving a car, and it's not something you can avoid - a minimum level of insurance is required by law. That doesn't mean you have to blindly pay whatever your insurer quotes though, as there are several simple things you can do to reduce the cost of your premiums.

Try shopping around and buying online. Figures show that many people simply renew their current policies without shopping around. Thanks to the Internet, it is easy to compare prices from different insurers, so why not take advantage of this? Not only that, you will also usually get a discount of 10% or more just for buying your policy online.

What is the policy type? Is a comprehensive policy with all the extras what you really need. If you go for a third party fire and theft policy, then this can reduce your premiums hugely and it is definitely worth considering if your car isn't an expensive model.

No claims discounts. A discount that increases for every year that you don't make a claim is featured in nearly all of the policies. The more you could save the higher the discount available. Another thing you should do is look at insurers offering a 'no claims bonus for life' feature, where your current discount level can be fixed forever, even if you have to make a claim somewhere down the line.

Excess. When it comes to the excess on a policy, it refers to the amount of a claim that you have to pay before the insurer pays the rest. Most of the time, choosing to have a higher than standard excess level will mean lower premiums.

What about security? Leading to premium reductions is fitting your vehicle with an alarm, an immobilizer, or other security devices. Parking you car off-road, for example on a driveway or in a garage, will also mean a cheaper policy.

You should pay annually. For the privilege of paying in monthly installments, many insurers charge you interest. You can look for one of the companies who don't charge extra for monthly payment or pay annually if you can afford it so you can avoid this.

Mileage. The more mileage you run up every year, the more your insurance will cost. Even if you can't reduce your mileage, make sure you're not overestimating how much you actually do drive, and give your insurer an accurate figure.

Drivers. Your policy will cost more if you happen to have more drivers on your policy. Reduce the number of people insured to drive your car to the minimum possible, and try to get the policy in the name of a driver with the lowest risk profile. For instance, insuring it in the woman's name will often result in a cheaper quote if a car is driven by both a man and a woman.

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