It now costs more than ever to run a car, from road tax to servicing. Some costs can’t be controlled, but in the case of car insurance you do have options. There are many different insurance providers, each offering different rates and levels of coverage. If your car insurance rates are eye wateringly high, it may be time to give them a second look and see if you could potentially cut costs. Many drivers feel as if they are paying too much. Are you one of them? If so, see if any of these insurance-reducing options apply to you.
Drive a Different Car
If you’ve been thinking about trading in your existing vehicle for something new, reduced insurance costs could be a good reasons. There are many factors that influence the cost of car insurance, including a car’s engine size and value. Sports cars are riskier than practical sedans, because they are more likely to be involved in an accident and are costlier to repair. To get a feel for what a car’s insurance costs will be, you can read reviews that show more details of the car’s basic statistics. You can also run different makes and models through online comparison sites to see how your insurance rates might be impacted if you switched models. Often times you will find comprehensive insurance is inexpensive.
Weigh Modifications Carefully
Car modifications can be a fun way to add value to your car or personalize it, but have you thought about their impact on your insurance rates? If your rates are sky-high, those tinted windows may be the culprit. Some insurance companies believe that modifications make a driver statistically more likely to make a claim. It’s best to avoid these types of cosmetic modifications if you want to lower your rates. On the other hand, fitting extra security features to your car is looked upon favourably.
Increase your Excess
There’s a mandatory excess for all insurance policies, but if you agree to increase this amount you will be rewarded with lower monthly rates. Be sure to only agree to an amount that you can afford, however, in the event you are actually in a collision. The best policies are over at Youi comprehensive insurance
Get a Black Box
If you are a new driver or have a less than perfect driving record, a black box policy could save you a bundle. This involves placing a black box or telematics device that monitors driving. If you drive sensibly, you’ll be rewarded with lower rates.
Spend Less Time on the Road
This is a tip that’s easier said than done if you live in a remote area, but if you have access to mass transit or are able to ride your bicycle to work you could conceivably spend less time on the road. Statistically, the less time you spend on the road, the less likely you are to make a claim. Commuting on mass transit is not only better for the environment; it could be better for your bank account.
If you feel like your insurance rates are unfair, try these tips to whittle them back down to size. Shop around and compare quotes carefully from different insurance companies before you agree to any policy, as prices can vary widely.