How do you get the best car insurance deal? Of course, there isn’t a “one-size-fits-all” bill. Plus what works for your friend won’t necessarily work for you. How do you ensure you get good value for your money? What do you watch out for? Most importantly, how do you protect yourself from overpaying on insurance premiums? These tips will help you score the best deal on your car insurance:
- Add an extra experienced driver to the policy
It doesn’t seem logical, right? How would covering a 2nd or 3rd driver slash your insurance costs? However, it works. It can greatly reduce your costs by anywhere from $50 to even $1000. It’s all about the risk. If you are a high-risk driver, you should take particular note of this. Adding someone who is of a much lower risk to the policy can bring down the average risk and get you a cheaper policy. And it doesn’t just apply to young drivers who can add their parents to the cover. It’s a neat tool for those with costly insurance. Try out different quotes with different drivers who you trust. It should be someone who can drive your car- not a distant uncle halfway around the planet. Usually, people go for the parent, best friend, or even grandparent. However, do not name someone as a main driver if they aren’t. That’s actually fraud (referred to as “fronting”), and when caught you’ll face criminal prosecution.
- Tweak your job title
But don’t break any laws doing it. For example, simply writing “editor” instead of “journalist” will get you a cheaper quote. Kitchen staff is often cheaper than chef, office administrators than office managers, and a PA than a secretary. Find out if there are changes to your job description that could save you cash. If your job fits into more than one category, check different auto insurance quotes for the best deal. In case you are retired or a fulltime parent, ensure you say so. Don’t rush to declare that you’re unemployed.
- Make annual, not monthly, payments
It’s tempting to stagger your payments instead of forking it all out in one go. However, the latter is the better option, if you can afford to. In addition to saving on the actual cost of the cover, you’ll escape the monthly interest charges that accrue.
- Increase your excess
This is the amount you’ll have to pay yourself when you make a claim. If you boost your excess, you can significantly cut down on the overall cost of insurance. However, ensure that you are in a position to actually pay for the excess in case you’re involved in an accident.
- Get a black box
They are called “telematics”. When you sign up to a black box policy, the insurer installs the system into your car. It monitors your driving- speed, handling, driving times- and rewards careful drivers. You get discounts. This is especially beneficial in bringing down premium costs for high risk drivers.
- Cut down on extras
Take a comprehensive look at your car insurance quote, and what you’re covered for. It can be anything from windscreen, breakdown and theft covers to personal accident covers, driving abroad and courtesy cars. Some are necessary, some may have already been catered for by things such as your home insurance, travel insurance, AA membership or bank account. Others are downright unnecessary. Each extra means an additional cost in premiums. Go through all of them to ensure that you are not paying double for the same thing.
- Scout online for the best deals
The reason everyone is saying it is because it’s true. You can save hundreds of dollars by simply shopping around for better deals, as you purchase or renew your cover. Comparing the policies online is a convenient and effective way to cut down on the prices you pay. There are online comparison services that can do the hard work for you. All you have to do is put in your details and then check the prices that come up. Sort them out in order to ensure you get the most affordable rates. Remember to compare similar covers. A policy may appear cheaper but lack the same level f cover when making a claim.
Remember to take care of your car. Take it for regular servicing. Do you have a garage? Use it. It protects your vehicle from theft and weather elements. Install an approved alarm, tracking device, or immobilizer. These simple steps will earn you discounts when getting your premiums.