You can lower your Insurance Premiums

Short term car insurance

Short term car insurance (available from one day car insurance site netfinity3 )has been one of the major successes of the past five years or so. Up until the introduction of online short term cover the only way to get insurance for a short period was to ask one's existing insurance company; this was an extremely expensive way of doing it, but now the whole process can be automated over the Internet.

The total amount one spends on auto insurance is determined by a number of factors. Some of these factors have a sort of permanence that one can do nothing about. An example of this is your gender and age. Others are however a state of being, and can change from time to time. Financing your teenage children’s car insurance is one such. It’s a short term state that will change in a few years when they become adults and independent. If you want to enjoy lower premiums on your car insurance, you must know what these factors are and how you can influence them for your benefit. Your guide to knowing the variables used to determine insurance premiums is the questions asked on the quote request form. Here is how to spend less on car insurance:

Buy multiple policies from the same insurer

When you consolidate all your insurance policies so that you buy them all from the same provider, you benefit from multi-policy discounts. If by the time you are buying car insurance you already have health, home or life insurance in place, consider buying your car insurance policy from the same provider who is insuring you on the former. If you have already bought auto insurance and now want to purchase either of the above policies, buy them from your car insurance provider.

Pay a higher excess

The excess is the amount of cash one must have paid to the insurer before they can make a claim. A higher excess means less liability for the insurer and as a result, they can afford to give you lower premiums.

Change your choice of vehicle

If you had purposed to buy a fast sports car, consider a cheaper type of car. It will be cheaper to insure. Fast cars as well as those that have a high value cost more to insure. The type of car – its speed, safety, value and performance – all affect the cost of insurance.

Location

Some areas are safer to live and drive in than others. If you live in a crime prone area, consider moving house to a safer location. If for some reason (work, business or family) you must stay in an urban place, be prepared to pay higher rates than someone living out in the countryside. Urban centers have a higher risk of theft and vandalism. They also have higher traffic which increases likelihood of accidents.

Lower mileage

Driving less has its advantages. Insurance companies give lower rates to drivers who cover fewer miles annually. Limit your mileage to a certain number and purpose to stick to it. If you agree to a mileage limit, your insurer will not be obligated to compensate you for accidents that happen after you’ve exhausted the agreed mileage.

Build up a no claims discount/bonus

A no claims discount, also referred to as no claims bonus, is given to drivers who go for 4 or 5 years without filing a claim. Protecting this NCD will ensure that you can safely file for claims if an accident occurs without losing your discount.

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