Let’s face it; if you own a car, you have to deal with a lot of expenses. You need to pay for fuel; you need to pay for regular maintenance and unexpected repairs, and of course, you need to pat for car insurance.
Naturally, if your car is still relatively new and it has been well looked after, you probably won’t have to spend much money on repairs, but you can’t really escape having to pay for car insurance.
We’re going to take a look at three very useful auto insurance tips and tricks that can help you to save a considerable amount of money, not to mention, a lot of hassles as well.
Okay, so let’s get going:
So many people buy car insurance from one or other insurance company, then they stick with the same company for years without ever questioning anything. Their installments go up year on year, but they automatically assume that this is just how insurance policies work, so they never question anything. A lot of people also stick with the same insurance company because past experience has shown that they can, in fact, rely on the company when things go wrong.
What many people fail to realize, is the fact that insurance companies are highly regulated, and as such, they have to play by the rules. Practically all reputable insurance providers also understand that there is plenty of competition out there, so they are obviously going to treat you as fairly as they possibly can. What I am saying here is that you won’t see much difference between the major insurance companies as far as customer service is concerned. However, their prices can vary substantially, and they can fluctuate wildly from one year to the next.
My advice is that you really do need to keep your options open. Just because you have been happy with one company for the past year or two, doesn’t mean you should rule out changing to a different provider. Every year, just prior to you renewing your policy, you should do a little bit of research to see if there are any better deals to be had. You might just be in for a pleasant surprise.
No matter where you go in search of auto insurance tips, you are almost certainly going to see mention of car security. In short, the less chance there is of your car being stolen or vandalized, the less you are going to pay for insurance. Things like immobilizers; car alarms, and steering locks can all help to reduce the cost of insurance.
Some auto insurance agencies will knock up to 5% or more off the cost of insuring your car if you can meet certain criteria, so before you accept a quote, don’t be afraid to inquire about this.
“Voluntary excess” is the amount you are expected to pay in the event that you make a claim. In other words, if your “excess” is set at $500 and you have a collision, you will have to pay $500 towards the cost of any repairs, and if the total cost of repairs is below $500, you will have to cover the full cost.
One of the easiest ways to lower the price of car insurance is by increasing your voluntary excess. If you agree to pay a bigger cut in the event of a claim, it means less financial risk for your insurance company, and this, in turn, means they charge you less for your cover. However, don’t go too high if you are driving an old low-value car.
If you are uncertain about voluntary excess, you should definitely discuss your circumstance with a reputable broker before you enter into any sort of contract.
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