Whichever way you look at it car insurance takes a rather hefty chunk out of your bank balance every month and although you’ve got to have it (well, if you’ve got a car you do) there are ways in which you can chip away at the premiums to save just a little bit of your hard earned cash and you know it really is true that every little helps.
Here’s a quick check list which can help to reduce your car insurance – check it off before you renew:
1 – Look around – there are some superb online comparison websites which enable you to get a number of quotes from a variety of insurance companies all at the same time – so use them. Although the insurance industry is well regulated it is still not true that they are “all the same” – you never know where you’ll get your best offer.
2 – Increase your deductibles – many people pay over the odds insurance premiums without even knowing it. If you increase your deductibles it will reduce your premium payments which really means that you will have to pay a proportion of the repairs yourself if you are involved in a motor accident. Be careful of increasing it so far that you’ll never be able to afford to fix your motor in the case of an accident but do check it out.
3 – Have a good score – a good credit score that is. Insurance companies do check on this type of thing to see what type of customer they are dealing with and, rightly or wrongly if you have a bad credit score you will have to pay more for your motor insurance.
4 – Low mileage discounts – are another great way to reduce your insurance costs. If you are the type of person who only drives a couple of miles twice a week to stock up on groceries and go to your weekly art class then ask if there are any low mileage discounts which can be applied to your policy.
5 – Rid yourself of the collision / comprehensive insurance – you could find that this part of your policy is costing you more than the value of your car – if you drive an older motor. This is well worth checking out and can help to save a massive 40% on your premiums. Collision cover is for repairs to your motor if you are involved in an accident which is your fault and comprehensive cover is for any other damage to the vehicle which has not been caused by an accident. Many older, budget cars really don’t need this cover.
6 – Check out the discounts – different insurance companies offer different discounts at different times, so don’t forget to check them out every time. They may have loyalty discounts, anti-theft discounts, discounts for pension age drivers or those who have retired, discounts for keeping your car in the garage, discounts for fitting an anti-theft device, discounts for married drivers, discounts for driving a yellow motor (just kidding and checking that you’re paying attention).
7 – Combining other policies – most insurance companies offer many different types of insurance – home owners insurance, auto insurance, life insurance, health insurance, renters insurance – if you lump all of your insurance eggs into one basket you could be eligible for a discount on all of them. It’s certainly worth asking about.
8 – Check out the insurance costs of your motor before you buy it. Picture the scene, walk into somewhere with loads of great cars like Dodge Costa Mesa – check out http://mcpeeksdodge.com – then before you absolutely and completely fall head over heels in love with a shiny new sports model check out the insurance implications and buy something which is within your budget.
