Auto insurance is quite expensive, and millions of drivers are paying hefty amounts every year for renewing their policies. They may even pay more by the end of this year as it’s predicted that the cost of car insurance may shoot up as 2019 goes on. To bring down the cost of your car insurance premium, here are helpful tips to follow:
Shop Around Online
There’s a list of comparison sites on the web. This site gives you a chance to compare the prices of different insurers. As you shop around online, ensure that you read and understand the terms and conditions of the policy before you accept the quote. Even though some insurers may seem to offer cheaper services, don’t blindly sign up for them without confirming if they suit all your needs.
Bundle Your Cover
Insurers are now tweaking their insurance prices to win the hearts of a particular group of customers. For example, some are giving huge discounts for clients who not only want to insure their life and property but their cars as well. If you want to save a few bucks, take advantage of discounts that come as a result of bundling your insurance.
Don’t Upgrade Your Car
Whether it’s improving your car’s performance or making some aesthetic changes, modifying your vehicle will lead to high cost of insurance. Modifications raise the value of your 4-wheels, make it more likely to have an accident, and attract potential thieves. Since upgrading comes with a lot of risks than benefits, many insurers always raise the insurance cost of all modified vehicles.
Keep Your Car Secure
One way to ensure your car is always safe is to park it in a garage overnight. If you don’t have a garage, consider parking your vehicle in a driveway rather than leaving it on the roadside. You can also invest in security devices such as an alarm, immobiliser or a tracker. These devices not only deter your car from being stolen or damaged, but they bring down its insurance premiums.
If you use your car every day to get to work, then you need to stop this habit. Consider walking, riding a bicycle, or get a lift from your colleague. Driving less will reduce the cost of repairs, increase your car’s life expectancy, and most importantly, it’ll trim the size of your car insurance. In fact, insurers may offer a cheaper premium if you keep your mileage as low as 10,000km per year.
The price of car insurance is still high across the country, and there’s not hope that it’ll go down any time soon. But by embracing the above-listed tips, you can make your auto insurance premiums more affordable.