Buying and paying for car insurance can be a huge headache, but is also a necessary part of running a vehicle. As frustrating as they can be, monthly premiums are much cheaper than repairs when you’re not insured, and, in most countries, driving without insurance is also illegal. There are a surprising amount of ways you can reduce the cost of your policy, however. Here are a few ways you can quickly reduce the price of your car insurance.
Focus On Driving Safely
As common-sense as this might be, there are few better ways to reduce the cost of your insurance policy than concentrating on safe driving. This affects the cost of your car insurance in several respects. First, reducing the amount of insurance claims you need to make will mean you less regularly need to pay your excess, which is the part of an expense associated with a claim you must pay for yourself. Secondly, insurers will offer lower premiums to people with a history of few are no driving accidents. Finally, not claiming on your insurance will help you build up your no-claims bonus, which can result in serious cost reductions.
Simply auto-renewing with your current car insurance provider each year can be convenient, but insurers can exploit this by not offering you the best deal. It’s therefore always worth requesting quotes from multiple providers to compare car insurance policies. In some cases, users can save hundreds of dollars a month by doing so. Simply threatening to switch providers may also help you negotiate a lower premium with your current provider.
Only Pay For What You Need
Insurers may sometimes automatically provide you with overly comprehensive policies, with additional coverage you do not need, such as rental car cover. However, many of these are actually optional, and can be removed from your policy by contacting your insurer. This can save you a significant amount on your monthly bill, but you should be aware that it also comes with some additional risk attached.
Limit Your Driving Where Possible
This tip might seem somewhat counter-intuitive, but insurers normally factor vehicle mileage into their calculations of insurance policies. Cars that have been driven for longer distances are more susceptible to issues and therefore attract more expensive quotes. As a result, reserving your car for essential purposes only can save you money in this respect. Driving less will also decrease the likelihood that you will need to claim on your insurance, allowing you to more easily build up your no claims bonus.
Choose Cost-Reducing Policy Options
Insurance providers also offer several other ways you can reduce your premiums, other than by decreasing the extent of your coverage. One of these is increasing the price of your excess, which may sometimes be referred to as a deductible. If you rarely claim on your policy, doing this can effectively decrease your monthly payment. Alternately, switching to paying for your policy annually can also further decrease the price you pay, overall.