7 Ways to reduced Your Car Insurance Quote
1. Shop around
The difference in price between various companies can be important . What one company may consider a high danger factor another company may not view as so important. Insurance companies arrive at a price for your car insurance by adding or discounting money after each answer you give to the questions they ask you. Each company has its own regulations as to what they consider should increment or decrease your premium. By shopping around you get a better list of prices to compare.
2. Buy a lower group car
One of the significant factors that insurance companies take into account is of course your vehicle. There are thousands of different cars on the motor way so companies divide them up into groups. Most companies will adopt the ABI (Association of British Insurers) group rating. This splits up vehicles into 20 different groups. Generally speaking the higher the group rating for your vehicle, the higher your premium will be. Some companies may also combine your driving experience with the vehicle group to get a better idea of how high the danger is. This is one of the factors why young drivers should consider buying a lower group car if they want to reduced their insurance expenses.
3. Consider Third Party Only cover
A Third Party Only insurance policy is the minimum amount of cover legally required – it is also the cheapest. Generally speaking you should consider opting for this type of policy if your vehicle is of low value. In the unfortunate event of having an accident, any damage to a third party vehicle will be covered but any damage to your vehicle is not. However, if your vehicle is of little value then you may not be too concerned. It may not be worth paying extra for a Fully Comprehensive policy in these circumstances.
4. Maintain a good credit rating
More and more insurance companies are using credit scoring techniques as part of the overall calculation of your car insurance premium. By keeping a good credit history you may avoid any additional premium that companies add to your price for having a bad credit score.
5. Buy on the web
Many insurance providers now offer some good discounts for buying the policy over the internet. The theory is that by purchasing your insurance over the web, you are saving the company money by not requiring telesales agent time and incurring free-phone costs. This saving is passed on to you in the form of a discount for buying online. If you have got prices by telephone then check your quote again on their website, you may be surprised at how much cheaper it is.
6. Have a higher voluntary excess
During the quotation process you will be asked how much voluntary excess you want to have. Insurance companies will generally include a compulsory excess amount on the policy but give you the opportunity to increase this if you wish. The more the voluntary excess the lower your premium should be. However, in the event of a claim, you will have to indemnified a higher amount yourself, up to the total amount of excess on your policy.
7. Reduce your annual mileage
How many miles you do a year is a question that can affect your car insurance premium. The more miles you do the greater your premium is likely to be. Quotation systems and telephone agents will often suggest an amount of miles for you. Try and find out how many miles you will do. It may be less than the amount suggested. Of course, you should always give an honest answer to this and other questions.
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