Car Insurance rates are really something we put our mind into. And the funnier thing is that it is proportional to various factors indeed. For example, if you drive carefully and avoid bad roads you can get a better sum for the Car insurance.
You didn’t know that? I told you, it is directly proportional. Here are some of the tips to reduce auto insurance premiums that will help you in cutting your car insurance costs.
Key to getting lower car insurance rates
To reduce your car insurance premium you can take these notes into account:
- Shop Around for Better Premiums: If your policy is about to renew and the annual premium has gone up markedly, consider shopping around and obtaining quotes from competing companies.
Remember, cheap doesn’t always mean good, and going with the lower-priced company isn’t always the wisest decision. After all, what good is a policy if the company doesn’t have the wherewithal to pay an insurance claim?
- Mileage: Car insurers also take into consideration how frequently you use your vehicle, which means your car mileage also affects the rates. The less frequently you drive your car the less costly will be your insurance policy. Consider using mass transit or even carpooling to decrease your mileage and do away with any unnecessary additional insurance costs.
- Luxury brings high insurance: Though owning a sports car may be your ultimate dream you need to consider if it is worth your while. More often than not, luxurious cars have a knack for attracting troubles which make them possible targets for car thefts.
Also, repair and maintenance of these cars can be extremely expensive as their spare parts are not easily available. The insurance companies also perceive sports cars to pose more safety threats and be more prone to accidents.
- High Deductible: When you are opting for a car insurance policy you have to pick a deductible amount which you will be required to pay in case of an accident. It is wise to select a higher deductible to get a lower annual premium.
For instance, in the UAE the deductible amount ranges between AED500 to AED2000 and selecting the higher deductible amount will get you the cheapest car insurance.
- Additional discounts: Insurers provide a variety of discounts. Check for discounts such as these:
- Offers to let you pay the entire annual or six-month premium at once
- Agreements to receive e-bills and documentation
- Memberships in particular organizations or groups that offer discounts
Don’t be swayed by a long list of possible discounts. Compare both discount and regular prices from multiple insurers.
- Anti-theft Aids a Must: It is critical to install safety features in your car. By buying gear lock, steering lock or an anti-theft alarm, you can also reduce your annual insurance premium by 5%. If you are linked with bodies such as WIAA, you can avail of special discounts.
Conclusion
These are some of the major ways to reduce your car insurance premium. This will let you cut the slack easily and will let you go more distance without worry. Key to getting a lower car insurance premium is to follow these steps. Though there are more tips that you can follow for cutting your car insurance costs, these are some of the pro tips to do it.
