The most common crime that many drivers commit in terms of their personal finances is not shopping around for the best insurance premiums. You should look for a cheaper car insurance premium that can save your pockets. So what is the cheapest car insurance company?
Cheapest car insurance can be considered equal to a mirage on the desert. However, with little care by following some of the useful tips, you can get a cheap insurance deal. Following are some of the useful tips to find out the cheap insurance company that demands lower premiums:
Look For Best Deals
You can save hundreds of dollars if you take time to find out the deals around. When planning to shop for car insurance, you need to make sure that you are comparing two similar covers. Though some policies seem cheaper, you may later find that they do not cover same level of cover compared to the one with a higher premium. Overall, while comparing you should not only look for cheaper car insurance policies but also for the ones that cover all the possible damages when you claim if necessary.
You can use online comparison charts for best car insurance deals on the web. After entering your details and mileage that you usually drive, you will get quotations.
Avoid Putting Everybody On The Policy
Make sure to include only regular drivers on your policy. If necessary, you can add someone in future when they need to drive your car.
Protect No-Claims Bonus
A No-Claim Bonus usually increases your premium by a few dollars. However, it fades to be insignificant compared to the potential loss of a 90 per cent discount on a premium of many hundred dollars.
The definition for no-claims bonus may vary widely among the insurers. Though it may not impact on the accidents caused by another driver, it could impact the ones caused by the insured driver. Here, the main point is to check the policy carefully.
Increase The Voluntary Excess
Make sure to increase the voluntary excess. When you agree to pay more money towards the cost of the potential accident repairs, the premiums you need to pay can go down. When the fault is not yours during an accident, this can recover the excess. However, do not be greedy and get tempted to increase it too much, especially when you have a low-value car.
Secure The Car
Fitting a tracking device, an immobilizer or an approved alarm can bring you an attractive discount of up to 5%. Most of the new cars in recent times have these features. Make sure to declare them if you have any such in your car.
Do Less Mileage
The lesser miles the car covered, the higher the saving can be. For example, you can save up to $100 if you cut 10,000 miles in a year. However, you should be genuine about the annual mileage. Else, the inaccuracy can risk any claim.
Make sure to declare whether you will be using the car to drive for business or to work, both of which can increase your premium. You may get a cheaper rate when you do not use your car for any such cases.
Think Twice While Adding Drivers
Adding inexperienced or young drivers may be a mere loss on your premium, especially when your car is of high power or large one. The premium of the insurance can still be affected by them and may not even have a no-claims bonus. So, do not add your children or any inexperienced drivers until and unless they will be the main drivers for your car.
Be Careful With Insurance Trap Cars
Make sure to check with your insurance company before you change the car to know whether or not the model will have any significant effect on your insurance premium.
Remember, Sports cars may attract a higher premium. Sometimes, a smaller engine or slightly different model car can make much difference in your premium, and you may save some dollars from it. It would even save petrol too.
Use Your Garage
Make sure to clear your garage if it is filled with junk. Keep your car inside your garage. Most of the cheapest insurance companies like those cars that are kept inside the garages all the night. It can cut on your premium. Not only will this method save the vehicle from theft but also you will not have to keep scraping the ice off from the car during winters and heavy snow fall.
Sign Up For A Blackbox
Blackbox policy is a policy where your insurer will install a system on to your car in order to monitor your driving, and reward you when you drive carefully.
These are also called as telematics officially. It checks your car speed, driving style and how carefully you are driving the car. It also notes down if you are on the roads during alleged dangerous timings such as early morning hours.
Telematics or blackboxes can lower your premiums significantly once you have proved yourself to be a good driver. The biggest win would be for those whose car insurance premiums are higher, especially with young drivers.
5 Steps To Cut On Your Car Insurance
Compare Prices: Compare the insurance costs among different car insurance companies. You can use online comparison services to do this job for you.
Bargain: Once you have compared the insurers and got the information, get on to the phone and begin bargaining.
Do Not Pay Monthly Charges: Instead pay it from 0 per cent purchase credit card, and then clear it within the interest-free period.
Think Uniquely: An Admiral’s Bonus Accelerator kind of no-claims bonus could give a year’s no claims bonus for you just after 10 months.
Named drivers, family and friends: Make sure to check if you were ever placed as an additional driver in any previous policies of your family or friends so that you can transfer a no claims bonus to your car insurance coverage.
Some of the insurance companies like Direct Line and AA offer this service. You may try to get a discount on your insurance by including two or more cars/vehicles among your family members or friends with the same company.