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10
Tips to Save on Car Insurance
Shop
Around
Compare
insurance quotes from at least 3 companies or get a broker to do
it for you.
Increase
your Excess
By
increasing your excess amount on the car, most insurance
companies will give you a discount on your premium. Be
sure that you can afford to pay the excess when you have to
claim though.
Don't
use your car for Business Purposes
If
possible, insure your car for private purposes only.
Business use of your vehicle will result in a higher monthly
premium. Most insurers will still give you a reduced
premium if you only need occasional business use.
Drive
Safely
If
you're not involved in any accidents, you'll be paying a reduced
premium. After each claim-free year of insurance, you
might qualify for a discount at your current insurer. If
not, you could get a better premium at another insurer.
Buy
a Low Risk Vehicle
High
performance vehicles are usually seen as a higher risk by
insurance companies (especially if you're under 25). The
replacement cost of parts is also more expensive.
Move
If
you live in a high risk suburb or in a city, you will pay a
higher premium on your car insurance due to the risk of your
vehicle being stolen or hijacked.
Overnight
Parking
A
vehicle parked on the street is at higher risk of being stolen
than one parked in a locked garage. Some insurance
companies will give you a discount if your car is parked in a
garage or behind locked gates at night.
Upgrade
Security Measures
Install
an anti-hijack device, gearlock or tracking device in your
car. If your level of secuirty is higher than the
requirement of the insurance company, you'll get a discount.
Nominate
Drivers
The
less people will be driving your car, the lower your premium
will be. This way it is easier for the insurance company
to calculate their risk.
Negotiate
Most
insurance companies are flexible with their premiums. If
you're not entirely satisfied with the quote, ask for a
discount. If they really want your business, they will
accommodate you. |
