The price of car insurance is rising pretty fast. You can say that the rise is faster than a speeding bullet in a way. Because when the prices of car insurances rise up, it definitely hits your wallet fast and hard. Your wallet or savings will definitely be buried when the prices become off the hook. Here are tips that can help you lower the premium of car insurances. 1. It is cheaper to get your car insurance online. This is because of the automated process and costs them less to process your application. They are also able to give 5% to 10% discount. 2. Try to shop around first. Each and every car insurance company has different computations for their premium. 3. Most insurance companies will offer added insurance products. It is worth it if you could get the other insurances too like those for building and content. They might give discounts for purchasing more than 1 insurance product. 4. Try to avoid paying the insurance by installments if you can. If you do pay the insurance as a whole the company might provide discounts. Installments will also be more costly because of the APR's 5. Increase the excess in your car insurance. Excess is the amount you pay when there are claims made. When the excess you pay is higher the premium gets lowered. 6. Having lower mileage gets your premium lowered. The usual miles quoted by companies are 12,000 miles. Make a computation to see if you make lower than 12,000 miles in a year. Don't lie because they will check your MOT's and service histories. 7. Have some sort of protection on your car like alarms, immobilizer or a tracker. This helps make the company believe that your car has more protection against theft. 8. Show the car insurance company that you have passed advance driver's test. This will make them feel that you are a better driver and less adverse to an accident. 9. Don't lie about the value of your car. That will only piss the agents and make the premium higher. The value of your car will be based on the market value of you're the day you made the claim. 10. Take care of your credit rating. Having good credit rating means you pay your bills on your time, etc. This is important for people would not pay for their insurance as a whole because it helps lower the APR rate. 11. The cheapest insurance coverage is the Third Party Insurance. This kind of insurance only covers minimal damage. Downside of this insurance is that if you do get into an accident the damages your car has will not be covered. 12. Try to keep the records of your license clean. Having lots of bad records will make the insurance company feel that they are giving insurance to a risky person. 13. If there is another person who used to use the car, remove him or her from the insurance policy. 14. Younger drivers are considered to be very risky drivers. Have the insurance of your car named under an older person to get it cheaper. 15. Try to build up the confidence of your insurance company by reducing the number of claims you've had the past years. If possible try to avoid claims. They sometimes give 75% discount to people who have not claimed for more than 5 years. 16. The insurance premium is highly based on your car. Try to find a car that belongs to the lower insurance groups. 17. Joining car clubs can give benefits such as discounts. |
