Car insurance is a compulsory cost that can drive many road users into debt. Shopping around can help you to find the best deal, but there are other tricks to look out for and snags to avoid that will keep your insurance low.
Take caution when making a claim
Many car insurance companies adopt a ‘no claims bonus’ system, meaning that if you don’t make a claim, your provider will lower your premiums. As a result, it can sometimes be less costly to not make a claim.
Calculating such costs can be tricky, plus their lots of legalities to consider. In some situations, it may work out more beneficial to hire a car crash lawyer that can deal with the insurance company for you, as well as discussing any chances of injury claims (this site http://www.seveydonahuetalcott.com/practice-areas/car-accident/ offers an example of such services). Whatever you choose to do, make sure that you contact your insurance company straight away regardless of whether you’re making a claim or not – some providers have a 48 hour rule and by not notifying them in that time, you may no longer be eligible for a claim.
Install anti-theft features
Anti-theft features such as steering wheel locks can help lower your insurance if it includes theft. Many modern cars may also have in-built anti-theft features such as alarms and immobilisers that are worth telling your insurance provider about too (you should look in your car manual to check if your vehicle has these features). Also, if you have a garage, storing your car in here could further deduct costs.
Take an advanced driving course
New drivers – especially young ones – are often stereotyped by insurance providers as being reckless. You can prove to your provider that you aren’t a dangerous driver by not collecting any points and avoiding any driving charges, but you can further prove your driving ability by taking an advanced driving course. This will cost some money to complete, but ultimately lower your insurance and save you money in the long run. There are also black box insurance schemes that can lower your insurance further.
Watch your mileage
If you’ve got an old vehicle coming up to it’s maximum mileage, you may want to think about driving less or getting a new vehicle as your insurance premiums are sure to shoot up. Whilst most cars extend beyond what the odometer claims, the likelihood of faults is greatly increased – which means you’re more likely to make a claim in the eyes of an insurance provider.
Increase your voluntary excess
Opting to pay some of your own money towards repairs in the event of a crash will also lower your premiums. This is known as ‘voluntary excess’ and the more you’re willing to contribute, the lower your insurance costs will be. If you have some savings left over or know someone that can lend you some money in the event of an accident, consider upping your voluntary excess and keeping this for emergencies – it may save costs in the long run.