Thursday, September 9, 2010

Chances are you are paying too much on car insurance. How can I say that? Simple. Most people can't be bothered to research short-term insurance companies. There is no reason in today's technological age for anyone to pay too much for insurance. The Internet is a fantastic tool that's available to most people and it makes researching our choices as easy as one, two, three!
So why don't we? If we all realize that the Internet can force insurance companies to be more competitive, they will do just that. They will have to offer more comprehensive packages and at lower rates. Please keep in mind the following list when assessing your car insurance policy that may save you quite a lot of money at the end of the day.
There are five main ways to lower your insurance premiums. They are:
1. Keep your driver's record clean.
2. Research all the discounts you qualify for, and claim them!
3. Don't drive 'high risk' vehicles and make sure you equip your car with safety devices that will lower your monthly premium.
4. Adjust your coverage to carry more risk i.e. Take a higher excesses.
5. Shop around for a good, low cost insurance provider.
There are a number of discounts you may qualify for, and I'll go over them briefly...
Safety devices and assuming more risk
Fit your vehicle with a tracking device (if you can afford it), an alarm, gear lock and as many different safety devices as you possibly can. This will more than likely lower your monthly premium considerably. Also, most insurance companies have deals worked out with vehicle tracking companies that will offer you a lower monthly subscription.
Also, consider a higher excess. You are not planning on being in an accident or having your car stolen. If things worked like that, we wouldn't need insurance in the first place! Always remembering to drive cautiously and always obeying the traffic laws will lower your risk considerably and make the chances of you having to pay over a large excess much lower.
Combined insurance and renewal rates
Try and insure all your home contents and cars on the same policy. This will most likely save you a significant chunk of cash every month. Also, ask for a discount after a few years of claim-free insurance, as you'll be a loyal customer. They probably won't want to lose you as a customer and will lower your premiums.
Occupations that are lower risk
It sounds silly, but over the years insurers have created a risk profile of prospective clients based on their occupation. Architects and engineers, for instance, are less likely to get into accidents than for instance, a DJ or a bartender.
It's never a bad idea to ask your prospective insurer if your occupation will affect your premiums.
Hopefully you will take to heart all or some of the tips provided in this article, but always 'Shop Around'! To find the lowest possible car insurance premiums you will need to compare, compare and compare some more! Good luck.



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