No driver can avoid paying for car insurance, but there are some easy ways to cut the cost as much as possible. Try out these 8 ways to save money and see how much you can save.
Car insurance is one of the most expensive parts of owning a car, and you can't get around it because the law requires you to have at least a certain amount. That doesn't mean you have to pay whatever your insurance company tells you, though. There are a few easy things you can do to lower the cost of your premiums.
Shop around and buy online. Statistics show that many people don't shop around before renewing the same policy. Why not take advantage of the fact that the Internet makes it easy to compare prices from different insurance companies? Plus, if you buy your policy online, you'll usually get a discount of 10% or more.
Type of policy: Do you really need a policy that covers everything and has all the extras? Getting a third-party fire and theft policy can cut your premiums by a lot, and you should think about it if your car isn't very expensive.
Discounts for not making claims: Almost all policies have a discount that goes up every year you don't file a claim. The more money you could save, the bigger the discount. Also, look into insurance companies that offer a "no claims bonus for life." This means that your current discount level will stay the same even if you have to make a claim in the future.
Excess: The excess is the amount of a claim you have to pay out of pocket before the insurance company pays the rest. If you choose to have a higher than normal excess, your premiums will usually be less.
Security: Your premium can go down if your car has an alarm, an immobiliser, or other security features. If you park your car off the road, like on a driveway or in a garage, your insurance will also be less.
Pay once a year. If you pay in monthly instalments, many insurance companies will charge you interest. To avoid this, pay once a year if you can, or look for a company that doesn't charge extra for monthly payments.
Mileage: Your insurance will cost more the more miles you drive every year. Even if you can't cut down on your mileage, make sure you don't lie to your insurance company about how much you drive and give them an accurate number.
Drivers: The cost of your policy will go up the more people you add to it. Reduce as much as possible the number of people who are insured to drive your car, and try to get the policy in the name of the safest driver. For example, if both a man and a woman drive a car, insuring it in the name of the woman will often get you a lower quote.