Car insurance is one of the many things we do not pay attention to while spending.Here are certain tips to save on insurance for your car.
- Generally people choose to pay monthly insurance premium. However it only appears cheaper and you are actually paying interest up to 24% which will add to the cost. Hence pay lump sum to reduce cost upfront.
- Check insurance coverage every six months, to see the coverage required. Coverage which is not required may be dropped. For example the coverage required for a learning driver is different from a skilled driver. Also moving to a new area where coverage may change due to local legislations.
- Search for discounts when renewing using comparison on the internet. Sticking to the old insurer means on losing discounts. Generally it is found that insurance companies offer discounts for acquiring new customers. Also ask your agent about potential cost savings. The agents are better equipped to offer different kind of packages.
- Claim insurance on bigger sums, and less frequently. This helps in keeping the premium low. Learning to drive safely helps in this case.
- Good credit scores can help to reduce the insurance premium as well.
- Always install anti-theft devices and tracking devices in your vehicle. This can result in additional discounts.
- The most important thing is to not let your current insurance lapse. It increases the cost of insurance.
- One more tip…tries to bundle home, life and car insurance from the same service provider. This can help to save on all three.
- Driving history and habits of the driver also influences the amount of premium. Learn about good habits which will keep your history good.
- Government employees or current or ex military employees may get additional discounts on premium.