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| 1. |
Shop around for cheap car insurance rates. Look at getting a minimum of three car insurance quotes. Use the search feature at the top of the page. You can instantly chat with multiple car insurance providers for free. |
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| 2. |
Before purchasing a car, you should compare the difference in insurance costs. Car insurance premiums are usually based on a cars sticker price, overall safety record, the cost to repair it, and the likelihood of the car being stolen. |
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Help reduce the risk of car theft. Many car insurance companies provide discounts for features that prevent or reduce the risk of injuries or theft. Install a car alarm and ask your insurance provider for a car insurance discount. |
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| 4. |
Ensure that you are not over-insured. Check all your policies, not just your car insurance. An example of over-insurance might be that your policy covers you for towing accidents, but your car doesn’t have a tow bar. |
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Shop separately for your house and contents insurance. A survey conducted by the Consumer Magazine found that insurance premiums varied for different areas. |
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| 6. |
If you already have car insurance, reassess the value of your car annually and inform your insurance provider. There is no use paying premiums on the value of a new car if you have owned the car for several years. If you car is written off in an accident, your insurance company will only pay out the current book value according to the age of the car. |
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To help save money on insurance, maintain a healthy credit record. Insurance companies are increasingly using credit information to determine insurance premium costs. You can improve or maintain your credit history by paying your bills on time, keeping an eye on your credit history, and correcting any errors you may find. In order to save on insurance or get cheaper insurance coverage you should always keep your credit rating in check |
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Negotiate, negotiate, and negotiate. Insurance companies have been known to offer deals in order to win a customer’s business over the competition. If you want to stay with your current car insurance provider, inform them of quotes you have received for cheaper car insurance from other providers. Ask them to match your quote. They will generally comply to prevent you from moving your car insurance policy. |
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| 9. |
Ask you insurance company if they allow you to pay a higher insurance excess in the event of a car accident. This can reduce your car insurance premiums substantially. If you decide to choose this option, be sure you have money set aside to pay if you have a claim. |
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| 10. |
Discounts are another way to save money on insurance. There are four main types of insurance discounts : |
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i) Discounts for higher excess
ii) Senior citizen discounts
iii) No claims discounts
iv) Other insurance discounts |
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