Tip 1: Try to raise your deductibles or "excess." Most of the time, the excess is the amount you have to pay for a claim before your insurance starts to pay. Due to rising insurance premiums, most of us don't claim all of our deductions. Because of this, it is better to keep the deductible at the lowest, most comfortable level. For example, if you raise your collision deductible from, say, GBP200 to GBP500, you will save 15% to 30% on your annual auto insurance premium.
Tip 2: Always drop collision coverage when you fill out your auto insurance application. Collision coverage pays for the cost of fixing your car, no matter who was at fault. If you drive an older car, you should always think about dropping collision coverage if your premium is more than 10% of the value of the car.
Tip 3: If you have a security alarm, anti-lock brakes, or air bags in your car, you may be able to get a discount on your auto insurance. Use them by telling your insurance company that these things are on your car.
Tip 4: If you've been a good driver for a few years and haven't had any accidents or tickets, ask your insurance company about "good driver" discounts.
Tip 5: Don't choose an auto insurance company with a bad track record of paying claims. Even though they can afford to offer lower premiums, you're wasting your money if you can't make a claim when you need it the most.
A reputable and financially stable insurance company will take care of your claim quickly and pay you on time. At www.ambest.com, you can find out what people think about your carrier. You can also use the site to find out how strong your company's finances are. Before you buy coverage, don't forget to ask your agent about how stable the company is.
