For all those that own motor vehicles, we all know that automobile insurance is cash that’s not easy to part with. For this reason, when an opportunity presents itself for one to reduce this expense, then it is accepted with open arms provided it’s legal and justifiable. How much a car owner pays for vehicle insurance is determined by the car model, the driver’s age, how clean your record is, quantity of no claims discount accrued and just how ardent the automobile insurance firm is. Though the LAPSO act of 2012 is one instrumental way that saw insurance premiums take a downward curve, there are other several ways to save that extra penny paid in insurance premiums as detailed below.
How to cut insurance on automobiles
• Have more than one driver
It is cost efficient to have the car registered with two drivers. The second driver, preferably one in close contact with the car owner, should have a flawless driving record with no outstanding penalties. Experience is also key and this second driver is one who does not frequently drive.
• Know what the insurer wants
Automobile insurers have certain preferences regarding personal information. Most insurance firms accord lower premiums for married persons or couples living together and individuals engaged in less risky occupations. The car should also be driven at times when the risk for theft or accident is low. If not so, it is more than probable one ends up dialing the tax disc telephone number because the insurer gives a rather unpleasant experience. For the ill desired personal information, insurers enact huge quotations.
• Look for the best bargain
Competition among insurers is usually at its best. Quotes vary from one insurer to the next. Before settling at the first stop it is worth your while to shop for the least expensive. But least expensive is not always the best, a value-packed package can be worth the trouble. A renewal shouldn’t be a rash decision since an old one is valid for 28 days. The wise shopper can save up to 20% on the new premium. Research is always the way to go for premiums.
• Propose your own Quotation
Challenge the current provider with the best rates the market has to offer. At times it’s never the best option to opt out of the present firm due to close to perfect transactions during the claims process. Also filling out forms for a new provider cannot be an enjoyable process.
• Pay in lump sum, avoid installments
A monthly charge attracts a pretty penny. This is because interest is charged on the monthly fee. Lump sum payments elicit handsome discount which means reduced tax cuts. No need to worry if the lump sum is not possible. Credit card payment on a 0% charge on purchases aids in stretching the payments over a period of one year.
From the aforementioned advice, it is clear that one needs to be vigilant when making decisions concerning automobile insurance premiums. With these tips, one secures the best insurance premiums in the market.