5 steps to lowering your car insurance premiums

Car insurance is something you must have, but you don`t have to pay more than necessary. If you follow these simple steps and combine them with surfing for competitive car insurance rates, you can really save some serious money.

1 – Lover risk, lower cost.

The simplest way you can cut down on your premiums is to cut the risk and accept a higher voluntary excess. The standard excess of any insurer may be $200, but if you pay the first $400 of any claim you will get a reduced premium. The reason for this is that you as an owner take on more of the risk yourself so you can get a discount. There is a risk attached though: you should be aware that you might have to pay for yourself the cost of a broken window after someone trying to break into your car. Furthermore, you`ll might have to take the bill yourself for the bodywork after a car park crunch.

2 – Security equals savings.

Fitting some kind of sevurity device in you car might result in a lower car insurance premium. Most major insurers insist on you having some kind of rated security equipment, usually this means an alarm. It makes sense, especially if you live in a high-risk area for car crime. What`s more than saving you money when your renewal is due, it can give you some extra peace of mind.

3 – Less annual mileage, more money in your pocket.

If you have a annual mileage on 5.000 miles or less, you can ask your insurer if they offer a discount for agreed mileage restrivtions.

4 – The trick with the named driver.

If you add the name of the driver to your policy this can reduce or increase your premius depending on the drivers driving record, sex and age. If you add a young driver this will most likely increase your premiums. On the other hand, if you add a driver over 30 years old with a good, clean driving record, this can seriously cut down on your premiums. This particularly if the driver is female.

5 – Want to save more? Shop around.

For the biggest savings on your car insurance, shop around. If you do that you can run into some major differences between the highest and the lowest quote for exactly the same car and driver(s). If you use Google, you can find a few really good websites that compare quotes. Take their best quote(s) and contact the cheapest car insurance company to get more specific quotes.

Last but not least: when your renewal arrives, don`t just pay up. Use these steps and get the cover you need at the right price.