If you are struggling with your bills each month then you may be wondering where you can save some money. Cars are not the cheapest thing to own in the world but for some people it is absolutely necessary. Insurance providers know this, and as it is a legal requirement in most areas then they often sting you with monthly insurance premiums. If you are wondering how you can lower these premiums then take a look at the article below.
Shop Around
One of the first things you need to do if you are paying too much for your insurance is shop around different providers. You would be surprised just how many people stay with their providers despite the costs gradually increasing. There is no need to stay with your insurance provider unless they are giving you some of the best rates on the market.
Don’t be afraid to do a quick check to see if you could save some money each month. You could do an individual check if you have a company in mind or you could use a comparison site. Comparison sites will take all your information and give you some of the best quotes around. Certain providers may even offer you a reward for taking your services to them, a gift card is a popular one. It can seem pretty arduous to enter all your details each time but shopping around using this method can save you a small fortune.
Bundles
Something else to consider if you want to save money on your insurance is bundling different deals. You might already be paying for separate policies with different companies, there is no need to do this and you could combine them. For instance, if you have home insurance and car insurance then give your providers a call to see how much it would cost to have both with them. Many insurance providers will give you discounts when you have one or more policies with them, this could save you up to 25% on the total cost. The best thing about this other than saving money is that your policies and premiums are all in one place.
Defensive Driving
If you are wanting to cut your costs even more then how about looking into a defensive driving course. This type of course can save around 10% on the cost of your premiums. You will have to ensure you go through an approved provider otherwise you may not save anything. At times, you can even use these courses to avoid tickets and points on your license from speeding. You will learn many tips and tricks on how to become a better driver upon completion of the defensive driving course. This course is typically used by new drivers and those aged over 65.
What Vehicle
Before you head out and buy yourself a new car, it is worthwhile checking how much your insurance premiums will cost. There may be a few different cars that you want to take a look at and the deciding factor might be the one that saves you the most money each month. It might seem long but it is certainly worth checking before you part with your hard earned cash. It might shock you as to which cars make the cheapest premiums list. At the top of the list we have Subaru, Honda, Mazda, Hyundai and Toyota. So if you like any of these cars then they are a pretty good option for saving money and having low premiums.
Check Discounts
Many providers will offer a whole host of discounts when it comes to insurance premiums, these could save you a big chunk each month. For example, if you have been with the same provider for many years then you could be eligible for a loyalty discount. If you are a great driver and your record verifies that then you could end up saving around 40% on your premiums, this is a huge amount. If you are wanting to save a bit of money on your monthly costs then consider having a black box fitted to your car. Obviously this won’t work if you are a bit of a boy racer as it monitors how well you are driving and gives you insight into how you can improve.
Something else that can save you money on your insurance is how well you secure your car. If you use a feature such as an anti-theft device then you could end up saving around 30% on your costs. A few companies also offer discounts if your vehicle comes with anti-collision technology built into your car.
Pay Per Mile
Another thing to consider, especially if you drive less than 10,000 miles annually is a pay per mile policy. You will need to have a small box installed into your car that proves how much driving you are doing each year. You don’t want to be telling your insurance company you do less miles than you actually do, this could land you in hot water. To put it simply, the less you drive then the less you will pay. However, there is a small monthly fee for this type of insurance cover.
Speak To The Experts
Finally, if you are still unsure as to where you stand with your insurance premiums then don’t be afraid to ask the experts for help. This could be in the form of calling or web chatting with your provider. You can ask any questions and they will help you have a greater understanding of the levels of insurance, what you are covered for, how much it will cost, and how much it may rise by in the following years. There are also FAQs on every provider’s website, so check these out as well.
We hope you found this article useful and that it gave you some helpful insight into how you can lower those car insurance premiums. Don’t be afraid to shop around and move around different providers if it means saving a few dollars. The money you save soon adds up and can be put towards other things you want or need.
