Cheap Insurance!!! But How?
Author: Adeel
Cheap insurance is not a secret anymore, just grasp an idea how insurance companies view your profile as a possible risk and what aspects you should look into save your hard earned cash overpaying them. Remember your risk profile is composed of controllable and uncontrollable factors, so try reducing your controllable factors as much as possible to minimise your premiums to acceptable levels.
1- Correct policy, always compare quotes for third party, third party fire and theft and comprehensive before choosing.
2- Monthly payment plans, most companies make you a quote and then put you on a monthly plan, while charging you interest on initial quotation. Eventually you end up paying more at the end of year. Always read terms and conditions very carefully and then decide whether to make lump sum payment or pay in instalments.
3- Tweak your job. Do you know that changing your job title (as a manager can be called administrator) which is acceptable if it convinces general common sense can save you bucks. Make sure you don’t lie or cheat as it invalidates your policy altogether.
4- Market coverage. Checking only one company or comparison site is not enough; always get multiple quotes from different companies. Usually policies are bought for a whole year so spending a couple of hours is not a big deal especially considering the fact that this toil is most likely to save you some decent money. You should try to save money as it can be used on lot of important places, like charity, paying bills, holidays or some extra days out which definitely have more utility then paying those cheeky insurance companies who prey on your ignorance.
5- Specialist covers, like young driver, multi cars or drivers with driving offences. Although you have same risk profile but companies view and explain this in different way e.g. there may be a company which gives discount or don’t penalise a driver who has got only 1 driving offence as contrary to the most companies who offer insurance on inflated prices. It is because they think that most drivers calm down and become more responsible after committing or making mistake of any driving offence.
6- Park and drive carefully. Use and park in your garage or off street parking and don’t forget to mention as it is highly likely to get a discounted quote. When it comes to drive, always drive carefully and responsibly for yourself and other road user’s sake. It has financial benefits also on occasions when you are looking for insurance quotes.
7- Add a 25 plus person. Ideal for newly qualified young drivers. But don’t add anyone who is not going to use same vehicle only for the sake of saving on insurance. As this is called “fronting” and is considered as insurance fraud.
8- Picking right car, using a car which is suitable for your circumstances is best when you are seeking insurance quotations. Imagine 18 year old newly qualified driver buying a super car can have a massively huge insurance bill.
9- Security device, having an additional immobiliser or security device other then a factory fitted one can get you a discounted quote.
10- Mileage, make a careful calculation of your usage of car. Lesser miles means reduced risk as you will be driving volume is low. So companies tend to give you a reduced quote owing to a safer risk profile.
11- Unmodified car, any additional accessories are likely to attract higher premiums.
12- Must tell your insurer any change in circumstances, like change of occupation or change of address. They can impact your premiums and not informing your insurance company can invalidate your policy.
13- Extra excess. Excess is the amount which you commit to contribute when there is a claim. Choosing a suitable access can impact your insurance policy; try different excess amounts to see how it affects quote.
14- Drive some one else’s car on your insurance,as a lot of companies allow you to drive other cars. It reduces your own mileage as mentioned in point no. 10 and so earns benefits.
15- New car free insurance. Some companies offer you free insurance when you purchase their cars. If you can afford to purchase a new car then this can save you some decent amount.
In next post, we will show you how you can reduce controllable risks to reduce your insurance bill, click HERE.
To apply for cheap car insurance or to see exclusive comparison sites,online brokers and insurance companies,click HERE.
Don’t forget to read our other useful pages e.g MOT,to find out everything about MOT,how to avoid failing MOT, retest fees and finding a cheap,reliable MOT test centre near your home run by your local councils.
Warranty,to find out best policies.
Amazon treasure hunting and cheap shopping tips.
Breakdown cover,to find out best policies and deals.
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