Secret Ways To Slash Your Car Insurance Costs
Posted by admin at 17 December 2017, at 18 : 41 PM
Over the past year, motorists everywhere have been hit hard in the wallet by the rising costs associated with their cars, and it’s not just about their insurance. Petrol and gas prices are rising alongside the cost of car insurance premiums. Many people try to get around the rising insurance costs by shopping around, but the number of websites out there that can give you a car insurance quote is rising, which can make it more confusing!
Car insurance premiums, no matter how high or low, can sometimes make sense. Don’t worry, we’re not sticking up for the extortionate costs of some insurance companies, but people who live in places with statistically higher car crime are more likely to pay a higher insurance cost as there is more of a risk. If your car is a more expensive model, you are also likely to find yourself paying a higher insurance premium to account for the higher cost of the car. Insurance companies work out everything, from whether your profession makes you more or less likely to one day need the services of an accident lawyer, to whether your star sign can make a difference to your criminal record and thus be more likely to cause a crash. These statistics may seem ridiculous to most, but the trends that have been studied over the years has determined some of those statistics to be true. What it means, however, is that your insurance cost can climb based on your job title, gender and job as well as where you park your car.
The good thing? Car insurance providers don’t have to have it all their own way with high insurance costs. There are things that you can do to keep your car insurance premiums right down. So, how can you do that? How can you ensure you don’t get overcharged for the same car insurance as everyone else? We’ve got some secrets for you below to help your wallet and squash down those monthly costs.
Job Title
Did you know that the way you write your job title can really make a difference in your insurance? By declaring yourself as a ‘music teacher’ instead of just a ‘teacher’, you can end up adding almost $100 to your car insurance quote. It’s not just teachers that encounter this problem, either, with ‘chefs’ paying more than ‘kitchen staff’ for the same insurance package. While you don’t want to be charged more for your insurance, you also don’t want to invalidate your claim by misrepresenting yourself. You can check out this guide for more on how your job title can affect your car insurance. If you are a parent in the home or you are retired, make sure you check the right box for that. Choosing ‘unemployed’ as an option can raise your car insurance by almost $300!
Add Someone Else
It is illegal to lie and say that someone else is a lead driver of your car if they aren’t, but adding a second driver is perfectly legal. You don’t have to tell lies to your insurance company to save money, especially when the naming of a second driver can also save you some cash. Of course, you will need their permission to be named on your insurance, but whoever you ask, make sure they have decent insurance themselves with no claims, and a clean driving licence. Watch those dollar signs fall when you add on your second driver.
Renew On Time
Did you know that renewing your car insurance in the weeks before your insurance is due to be renewed rather than on the day can save you money? Searching around for the best quotes and switching over to a new insurance provider can really save you a few hundred dollars. New drivers often pay more for car insurance, but you can make big savings if you look in advance. Most drivers just accept their renewal quote – it’s easier than looking around and changing provider. However, this way of thinking is not going to save you any cash!
Pay Up Front
Insurance isn’t exactly the cheapest utility bill in the mail, but if you pay for your year of insurance up front, you can save yourself quite a bit of money. Payments that are monthly often have a few extra dollars thrown on top and works out as much more expensive in the long run. You don’t have to pay a monthly interest to your insurer if you spend out the whole amount at the start of the insurance year. It may be a lot, but save it up and you can save yourself more overall.
Strip Down The Extras
When you set up your car insurance, you can be tempted by the extras on offer. Windscreen cover, driving abroad cover, courtesy cars when you break down: all of these extras are lovely, but they sure do add to your overall insurance cost. The whole idea is to bring those costs down, so by saying no to the extras, you can manage that. A lot of the extras that car insurance quotes offer you are already covered by your travel insurance or home insurance. Even your bank account can offer you those extra services. So, before you go ahead and start ticking all the boxes for your car coverage, check what cover you already have elsewhere. There is no sense in paying out twice!
Haggle
You may not be ready to haggle in the real world, but for car insurance you need to learn to barter. If you like the insurer but not the price on offer, you can quote them the cheapest offer online and see if they will match it.
Your insurance doesn’t have to be your most expensive monthly bill, if you are smart and savvy about it you can make it one of the cheapest things to pay for. Compromise on the cost – always, but never the quality. Insure yourself and be honest with the company you choose to use.