The law requires all drivers to carry car insurance, and if you have ever been the victim of a car accident, you can probably appreciate the benefits of insurance coverage. However, car insurance cover costs money, and sometimes a lot of it. Continue reading for a guide to cheaper car insurance, with some techniques that can help you lower the cost of your car insurance so you have money left for the other important things in your life.
The easiest way to get cheap car insurance is to drive safely, and avoid getting any tickets or accidents on your driving record. Most typical moving violations add at least one point to your record, which increases your risk in the eyes of your insurance company. This will drive up the cost of your insurance. It goes almost without saying that you should also avoid getting any drink driving citations. If you get a DR10 on your licence, you may be required to carry a high-risk type of car insurance that is incredibly expensive.
You can also get your insurance cover costs down by shopping around. It is so easy to get multiple quotes over the internet these days, so take advantage and get at least five quotes. Even with the same set of facts about you, your age, driving record and other factors, there is a good chance that you will get a variety of different quotes back. Some might even be subvstantially cheaper than others. This is because every insurer develops its own weighted risk algorithms, which take your information and assign a certain level of risk. Some insurance companies do not penalize you for having a speeding conviction on your record, while others do. Additionally, do not assume that third-party only insurance is cheaper. Many insurers know that younger drivers who fall into the higher-risk categories are the ones buying third party cover. However, if you drive an older car that is not worth much on the market, then the cost of fully comprehensive insurance is not worth the money.
If you are a young driver, you can save money by getting on your parents’ policy. If you can get a job closer to home so that your daily commute is shorter, this also helps, since insurers base your rate partially on total miles driven. You can not change your age or gender, but you can buy a car that is considered “safe” with airbags, anti-lock brakes and other features that insurance companies feel reduce the risk of an accident.Some insurers charge you less if you keep your car garaged each night. Additionally, you can fit your car with a security device for another rate discount. Whenever you change jobs, homes or other things that could affect insurance, inform your insurer.
Ask your current insurer for a no-claims bonus, and ask for all discounts that you qualify for because of your student status or good driving history, for example. Never lie about your specifics, though, because if the insurance company catches you, any claims will be denied and your policy will be canceled.
Every thing that you do to reduce your risk of accident or theft in the eyes of your insurer can put you in a lower-risk class with cheaper rates. Follow the suggestions above, and you should be able to walk away with much cheaper rates.