InsurTech

Smart Ways to Save Money on Your Car Insurance

Owning a car is something good. It makes your life easier, but driving your car on a daily basis means that you are at risk of having an accident. While car accident may happen at any time, having car insurance at least give you peace of mind. Insuring your car is expensive, but there are some ways you can minimize its cost. Here are a few handy tips for saving money on your car insurance:

Shop Around

You can save money just by comparing different quotes. There are plenty of comparison sites on the web which offer different prices. It takes less than five minutes to compare quotes online instead of making phone calls or searching for better deals through offline directories. Make sure you get quotes from at least five companies. Look at each policy carefully, read its terms and conditions thoroughly, and ask about the discounts they offer.

Invest in Security Devices

Fitting your car with security devices (such as alarms, steering wheel lock, and tracking system) means to the insurers that your vehicle is less at risk to theft or vandalism. You may get some discounts if you have installed these devices in your car.

Less Mileage

Lowering your mileage means two things. One is that your car is less likely to have an accident. The other thing is that your car will always need fewer repairs and maintenance. Car insurance companies offer cheap premiums to drivers with less annual mileage limit, so be sure of the kilometers you cover per year. If you drive less than 10,000 km per year, then the less-mileage policy can suit your needs pretty well.

Avoid modifications

You may be tempted to add some extras to your car such as alloy wheels, custom paintwork, tinted windows, and supercharged engine. These extras may seem like an excellent way to customize your vehicle, but they also make it more expensive to insure as many insurance providers perceive it attractive to thieves and likely to get stolen.

Bundle Your Insurance

Buying all your insurance products (homeowners insurance, auto insurance, health insurance, and life insurance) from the same insurer is a perfect way to convince them to give a discount. It worth to note that bundling your auto and home insurance can lower your premiums up to 25 percent, according to InsuranceQuotes.com. However, it’s important to ask your insurer whether they support this option before you buy the quote.

In conclusion, there’s no one-way approach to slash down your car insurance cost. It needs a combination of more than two strategies to achieve your insurance saving goals. While there are other ways to save money on your car insurance, the above-listed tips can help you get a better deal.

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