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Car
Insurance
FIVE STEPS TO CHEAPER
AUTO INSURANCE
Although car insurance is compulsory, it's not necessary
to pay more than you have to. A few simple steps
combined with some time surfing for competitive car
insurance quote rates really can save you hundreds.
Step 1 - Cut the Insurer's Risk
The easiest way to cut your car insurance premiums is to
reduce the insurer's risk and accept a higher voluntary
excess. An insurer's standard excess may be $100 but if
you meet the first $250 of any claim, you'll see a
reduction in your premium. This is because you're taking
on more of the risk so you get a discount. But it's a
gamble, be aware that you might have to meet the cost of
a broken window after an attempted theft, then a bill
for repairing bodywork damage after a car park crunch.
Step 2 - Security
Fitting security devices can also result in cheaper car
insurance premiums. All major insurers insist on
Thatcham rated security equipment, usually a minimum of
an alarm. If you live in a high-risk area for car crime,
it makes sense to fit extra security. It saves you money
when your insurance renewal is due and gives you extra
peace of mind.
Step 3 - Annual Mileage
If your annual mileage is 5,000 miles or less, ask
insurer's if they offer discounts for agreed mileage
restrictions.
Step 4 - Named Drivers
Adding a named driver to your policy can increase or
reduce your premiums depending upon the named drivers
age, sex and driving record. Adding a young driver will
certainly increase your premiums, particularly with a
limited or poor driving record. However, adding a driver
over 30 years old with a long and clean driving record
can cut premiums, particularly if the named driver is
female!
Step 5 - Shop Around
The biggest car insurance savings come from shopping
around. This has been made much easier with the
explosion of the internet. There can be massive
differences between the lowest and highest car insurance
quotes for exactly the same car and driver(s). Start off
using good comparative online car insurance quote sites,
take their best quotes and go direct to the cheapest car
insurance companies for more specific quotations.
By:
Simon Markham
Article Source:
http://EzineArticles.com/ |
