Car insurance, like death and taxes, is an inescapable expense for most drivers. However, if you know what to do, how to do it, and when to do it, you may quickly reduce your bill. Interested? Here are ten money-saving techniques to help you lower – and keep – your insurance prices.
- Get your quote early and don’t let it auto-renew.
There are a lot of strong opinions on when the optimum time is to renew your policy, ranging from a week before to a month before. In reality, there is no one-size-fits-all solution.
The goal is to acquire a new quote as soon as possible. The most expensive quotes are always those that are obtained at the final possible moment. Make a strategy for the future. Also, make sure to shop about.
Extra tip: Get two quotes, one three weeks before your coverage expires and the other three weeks before your policy expires. Get a second quotation 10 days ahead of time. Many (but not all) quotes are valid for a full 30 days (so double-check). You’re ‘playing’ the market rather than the market ‘playing’ you in this way. - Pay in full right away.
When money is scarce, it’s tempting to divide and conquer. However, unless your insurance is a one-time deal, it will always be more expensive.
Take the risk up front if you can. The difference saved could be enough to pay for a two-person supper out. Or, in certain situations, multiple meals — by paying a monthly payment, some insurers might add 25-30% to your policy. - Go with Fully comprehensive
Why merely cover oneself in part? It is illogical. Fully comprehensive insurance is frequently less expensive than third-party, fire, and theft insurance (TPF&T). That’s all there is to it for TPF&T. As a result, they raise their prices.
Compare car insurance with The Auto Experts in less than 5mints. - Purchase the proper car with the appropriate engine.
Insuring a large car with a large engine is more expensive. It is less expensive to drive a compact automobile with a little engine. So far, everything has made sense. However, due to EU demand to reduce emissions, there has been a trend of engine ‘downsizing’ throughout the years.
As a result, some large cars are towed (or pushed, if they’re rear-wheel drive) by extremely efficient yet inefficient motors.
So don’t overcrowd yourself or your family into a cramped vehicle. The size of the engine isn’t as important as it formerly was. What matters is what you do with it, and automakers have gotten smarter with less. - Obtain black box insurance.
A telematics box the size of a smartphone is installed in your engine compartment as part of a black box insurance policy to track your driving. You pay less if you drive safely and follow the policy’s rules.
This is fantastic news for new or young drivers because your insurance rate is determined by how responsible you are behind the wheel, not by how an insurer estimates you will drive.
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