10 Tips to Reduce Car Insurance Premium

Insurance of your vehicle is one of the most expensive parts of owning a car. Sometimes, people end up paying more for car insurance than the value of the car, which is unreasonable. Here are some tips to reduce the premium of your car insurance:

Tip #1. Try to get quotes from as many companies as possible. It is easiest way to spot the best deals.

Tip #2. Try to have more than one insurance policy with same insurance company. Try insuring your car with the company that insures your house. It is likely that they will offer you a discount on one of the policies.

Tip #3. If there is a second car in your family, then you stand a chance of getting a discount. It is known as the second car on the motor quotation.

Tip #4. Choice of the car also affects the insurance premium. The make and model of the car, the engine size, its age and value are used to calculate insurance quotes. To keep car insurance premiums to a minimum, choose a small car that has low modifications and a small engine.

Tip #5. Car modifications should be kept to a minimum. They affect the premium to some extent. Modifications that enhance the security of the car such as alarms reduce the premium.

Tip #6. Keep your car parked safely in a garage. It reduces the risk of theft and the insurance premium significantly.

Tip #7. The deductible is the amount of money that you need to pay before your insurance company steps in to pay the rest. You can offer to pay a higher deductible and save a lot of money in the process. By offering to pay an excess, you reduce the risk associated with you. This way, you only pay for small damages and your company pays for the big ones.

Tip #8. A no claims bonus is an effective way of reducing insurance premium. You need to have your own car insurance policy before you can claim a no claims discount.

Tip #9. Women are considered safer drivers than men. Thus, some insurance companies offer cheaper car insurance to women. If your car is used equally by a male and a female family member, then you can get the insurance in the woman's name. Also, it is advisable to young drivers to add the names of older and more experienced drivers to their car insurance.

Tip #10. Even if you are happy with your car insurance company, it is better to check offers of other companies every year before you renew your insurance.

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