Not
sure how you can save on your insurance premium? There are some pretty
straightforward tricks of the trade that you can use – and most don’t cost a
penny. Take a look at these:
Get
a black box This is otherwise known as telematics, and will
give your insurer a plainer view of just how safely you, as an individual,
drive. They’ll be able to monitor speed, times you drive, and how you handle
your car. Do it all safely, and you’ll see your premium drop. Perfect for those
drivers who find themselves in a costly bracket (e.g. younger, newer drivers).
Opt
to do fewer miles Ever not been clear why your insurer
asks you to estimate the mileage? Well, it’s because the more miles you do, the
higher the odds are that you’ll have an accident. So – reduce your mileage and
reduce the risk – and the cost. But don’t fake it, because this could land you
in some serious trouble with the law.
Offer
to stump up higher excess By increasing your voluntary
and agreeing to pay more towards the cost of repairs in case of accident;
you’ll receive a lower premium. However, on the other hand, don’t offer to pay
too much - be mindful of the actual
value of your car.
Check
how much the premium would be before buying Don’t buy a car blind – check out what everything costs - especially the
insurance!
Protect
your no-claims discount Insurers usually allow drivers to
accrue five years—worth of no-claims discount before it hits a ceiling.
However, that discount can be up to 90%, so for goodness sake, pay a little
more to have it insured! And drivers beware: the definition of no-claims discount
can vary massively from insurer to insurer, so make sure you go through all the
small print.
Author bio Laura
is an experienced writer, and now writes about tips and advice around business
and personal finance.
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