As a car-owner, auto insurance is something you have to pay for, but this doesn’t mean you have to dig deep in your pocket. There are some practical and manageable ways you can embrace to slash the cost of your car insurance. Here are five helpful tips to cut down your car insurance premiums.
Always shop around
According to the Association of British Insurers, you can save more than a third of your annual premium just by shopping around. This is because comparing car insurance quotes from different insurance companies can help you to find the best deal. However, it’s a good idea to look keenly on the policies offered by various companies as the cheapest quote may not give you all the benefits you need.
Pay up front
It is no secret that paying your premiums in full for a year help you to save up to 25% compared to splitting it into monthly as well as semi-annually. This is because when you pay your car insurance on a monthly basis, insurance companies will sometimes charge you a higher interest rate.
Take a pass plus course
Some extra qualifications such as pass plus can significantly help you to get cheap insurance. This is because drivers with such skills are considered safer drivers, and less likely to have an accident. It’s important to note that not all the companies that offer this kind of discount, therefore, it’s essential to confirm this discount before getting the quote.
Increase your car’s security
Insurance companies offer cheap premiums to drivers whose vehicles are more secure and less at risk to theft. The better way to ensure your vehicle is safe is to install an alarm, tracker or immobiliser. Also, park your car in a garage and ensure that you’ve steering wheel lock. The cost of these security devices may be higher, but they give you the peace of mind as well as decrease the amount of premium.
Lower your mileage limit
If you drive less, it is less likely to have an accident. Insurance companies charge low premiums to drivers who have set a low mileage limit. However, it is necessary to set up a realistic limit as the insurer may monitor you and charge you for going over the set limit.
Although car insurance is expensive, it is important to know the best route to take to get the best deal. The five tips listed above can help you save some money and still stay protected behind the wheel.