If you are about to renew your car insurance, you may be considering ways to reduce your premiums a little. Running a car isn’t cheap, so any money you can save will, no doubt, come in handy.
Here are 6 ways to save money on car insurance.
Read More: 7 Ways to Save Money on Car Insurance
1. A Clean Driving License
If you get caught speeding, running a red light, or committing any other traffic violation, it can substantially increase your car insurance premiums. Traffic offenses indicate that you are perhaps not as safe on the roads as you should be, so bear this in mind the next time you are in a hurry or not paying attention. You may very well end up paying for your mistakes by way of an increased premium when you next renew.
2. Where will You Park?
You may not be aware, but where you park your car at night can affect your insurance quotations. For example, a vehicle parked in a secure garage is far less likely to be broken into or stolen than one parked on a busy road. It is, however, crucial to note that you must be honest when you answer this question. If you have no intention of parking your car in your driveway, then you mustn’t suggest you will as it could invalidate any future claim you try to make.
3. Monthly or Annual Premiums
When shopping around for affordable car insurance, you will be asked whether you wish to pay monthly or annually. Paying your insurance once a year requires less administration time and comes with less risk to the insurer, so a one-off payment will be cheaper. So if you can afford to pay a lump sum once a year, it makes sense to do so rather than opting for monthly payments.
4. Don’t Auto-Renew
If you already have insurance, your existing provider will usually contact you a month or so before your renewal date to advise you of your new premiums. It is common for this to be higher than the previous year’s premium, so it is advisable not to set up an auto-renew when you take out your policy. This will give you time to find out what other companies can offer and save you a bit of cash in the process.
5. Ask for a Discount
If you don’t have time to shop around and, for whatever reason, want to stick with your current provider, don’t be afraid to ring them and ask for a discount when the time comes to renew. They don’t want to lose you as a customer, so if they feel that may happen, they will likely offer you some form of loyalty discount.
6. Don’t Leave your Renewal until the Last Minute
The closer it is to your renewal date, the more expensive car insurance quotes are likely to be, so don’t be tempted to leave it until the last minute. Make a note in your diary to sort it out around 3-4 before your existing policy lapses, and you should get some pretty competitive results.