The average motorist is often dismayed by the high insurance costs. The vehicle is taxed, and MoT’d, but there is the issue of taking an insurance cover so that you can hit the road proudly in your new car.
Insurance premiums can sum to their thousands more so if you are a young driver, yet you are less likely to make any claim on your insurance policies. A motor insurance is a legal requirement. In as much as you are faced with what you may think to be a costly necessity, it is possible to shave off a few dollars off the premiums using the following tips.
1. Get A Comprehensive Cover
Do not be fooled by the notion that a comprehensive cover is costlier than a third party policy. Instead, experiment with the quotes as you make comparisons to see which becomes cheaper. Taking a comprehensive insurance cover is the wisest choice particularly when it helps you save money.
2. Avoid Monthly Payments
It would be better to make upfront payment when taking a policy (if you can); it is cheaper and a better means of saving some money. Consider shopping around to find a low-interest loan that can help you make the upfront payment if you do not have the cash.
3. Increase Your Excess
The excess on your insurance is what you will pay if when making a claim. According to Moneyexpert.com you should consider how much you can pay should there arise a need to make a claim thus state an excess that is within your means. Keep in mind that policies with higher amount will be cheaper and those will a low excess are likely to cost more.
4. Stick To The Truth
Lying could muddy your reputation and invalidate your insurance increases the likelihood of paying more for your premium.
For instance, claiming a car that is safe on our driveway may seem like a bright idea that can help reduce the risk in your insurer’s eyes. However, that may not work because most insurance companies charge more for a car kept at home than one in the street.
Why is this? Most car thefts are not on the street but at home when thieves break in, find the car keys on the counter and conveniently driving off with the vehicle that is waiting for them outside the home or in the garage. So make it harder for the theft to find your car, keep it away from the house.
5. Get Your Job Title Right
Changing the job title on a policy can help save substantial money. For instance, a magazine editor is likely to be charged less than a writer, a doctor less than a nurse, or an engineer less than a mechanic. Therefore, rethink what you wish to list as your occupation as it could affect your premium.
However, do not lie about your profession. Do not say you are a doctor yet you a teacher or pose to be a nurse and you are a canvasser.
6. Add Experienced Drivers To Your Policy
It is a handy tip that young drivers can consider. Add your parents or siblings who have years of experience in driving to your policy. Having these additional drivers can help slash off hundreds from your policy since it is a move the lowers the associated risk.
Do not add someone that will not drive your car nor should you claim that the experienced person you added to the policy is the primary driver. Yes, doing this could see you save some money, but also could land you in big trouble with the law.
7. Remove The Extras
Is the legal expense add-on necessary or the windscreen cover and are these worth the money anyway? Do not be quick to go with such extras that the insurer through at you. They may sound sweet, but they are expensive extras that will bump up the premiums and will not be active when you make a claim.
8. Use A Comparison Site
The market is full of insurance providers and calling each of them would be a long and tedious process. Instead, you can lessen the time and efforts by using a comparison site to help you gather the prices and other information you need from various insurance companies to find the best choice.
9. Shop Around Before Making Any Renewal
Avoid auto-renewing your insurance policy. Take time to compare prices and do so in advance before the cover runs out; this applies even if you are to use the same insurer. You may be paying hundreds of dollar, money that you would not be paying as a new customer. So do not assume things, be informed.