Most people are already aware of the fact that most of the time, it isn’t the cost of purchasing and running a car that’s expensive. Instead it’s the cost of your insurance that’s likely to set you back a pretty penny. With this in mind, it’s crucial to get the cheapest car insurance that you can. Are you paying too much? To discover this, you need to know what the factors are for achieving cheaper insurance.
If you are security conscious and have an alarm fitted (many cars have this as standard) or you park your car in a garage, or off the road in a driveway, then your car is less likely to be a target for car thieves. This should be good news to any insurer and should facilitate a lower premium.
Think Long Term
If you can it is always best to pay your car insurance annually in one hit. Most insurers will offer you the choice of paying in monthly installments and although it may be far easier on the pocket in the short term, the reality is that it’s going to cost you more in the long term. Therefore if you have to make a few sacrifices and you really want the cheapest insurance you can get, then do whatever it takes in order to pay it off right away.
Don’t Over Insure
The fact of the matter is that when it comes to car insurance, it’s very easy to be insured up to the hilt. In some cases this can include items you won’t ever need insuring for. For example, if you never drive abroad then paying for breakdown coverage when driving abroad isn’t exactly going to help you. Alternatively you probably don’t need cover for extra drivers if you are going to be the sole driver. Having said that, you certainly don’t want to be under-insured either, so make sure you know what you want from your insurance.
Multiple Car Insurance
Finally if you have more than one car it may pay you to find a good multiple car insurance policy, which in many instances will work out considerably cheaper than insuring two separate vehicles. In some cases you may even get the second car for a mere fraction of the cost.
By taking the above into consideration, it is possible to make quite a saving on your insurance premium, especially if you know what the insurance companies consider risk factors. So don’t be afraid to do your homework and shop around. If you are unsure of the cheapest policy, speak to an insurance specialist and get a quote.