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Keeping Your Car Insurance Low
If you are looking for car insurance or already have car insurance, then you might have found there is a vast difference in price quotes. Keeping your car insurance low can be tricky, but if you know where to look and what not to do then you can get a really good price.
The easiest way to keep your car insurance low is to look at as many different lenders as you can. There is a great variation in the quotes you can receive so shopping around can really pay off. Looking at online lenders is the quickest way to compare prices, but you should also look at your local high street lenders as well.
Look at insurance before you buy
Before you buy a car it pays to look at insurance. You may have found a great deal on a car but if the insurance price is too high you may be paying more than you want to. Compare the price of new and used cars, and how much it costs to insure each model.
Ask for a high deductible
Having a high deductible, or the amount you have to pay before the insurance works, can lower the costs. Having a higher deductible means that your overall yearly payment will be less. However, remember to have the deductible money set aside, and that if you need to make a small claim the high deductible might not be cost effective.
Have low cover on old cars
If you have an old car, it may not be cost effective to have comprehensive insurance on it. If the premium you are paying is more than one tenth the cost of the car, then you should reduce your policy to lesser coverage.
Maintain good credit
If you have a good credit rating then insurance is much easier to get hold of and you can get better rates. Make sure that you pay bills on time and stay within your means and you will get better deals on all types of insurance.
Keep your mileage low
Another way to keep car insurance low is to drive less. Many car insurance companies offer lower rates for people who keep their yearly mileage low, as there is less risk of accidents or car failure. If you can drive less or share work driving with someone this can lower your premiums.
When choosing a car, try and pick one that has good reliability and low fuel consumption. These factors don’t mean you have to lose out on luxury or features, but will help to keep your insurance low. If you have an economical car and keep driving to essential journeys then you will definitely save money on your insurance. Even if you are a new driver or have a high-powered car there are deals to be had as long as you shop around and are willing to compromise.
About the Author: Peter Kenny is a writer for creditcards-gb.co.uk.
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