Everyone wants to get the best value from their car insurance. Car insurance comparison will help you to get a good deal, follow the tips below for the best price.
Many people don’t know how much mileage their insurance covers. Make sure you know. When you have high mileage, you pay high premiums. If you inflate your estimate, you are going to pay more in insurance premiums.
This doesn’t mean lowballing your estimate or understating it. If you do this, you risk higher claim costs or it can be even be denied. You should take your time when estimating your mileage.
Estimating your mileage is not that easy. You have to take some time to log your mileage over a given time, then developing an accurate picture of the distance you drive every year. You can use past data to estimate your mileage because it provides the most accurate estimate.
2- Valuing Your Car
When valuing your vehicle, accuracy is very important too. When you overestimate the value of your car, you end paying high premiums. The value is going to be important if your car is stolen or damaged beyond repair; the estimated value is the one that is going to be used when determining how much the insurance company is going to pay you.
The higher the value of the car, the more risks for the insurer, and this will cause the premiums to rise. The insurance company expects more claims from people with high-value cars.
If you don’t know how to get started with the process of estimating the value of your car, don’t worry because there is an easy way. Start by visiting Parkers. You can get a free estimate from them, but it is for cars that were manufactured after 1999. You can also get a fast estimate from Auto Trader, but you have to pay a small fee.
The risk of theft is a big factor when it comes to calculating your insurance premium. When you take steps to reduce those risks, it lowers your costs. A car parked in a garage is more secure. Parking in the driving is safer compared to the stress.
You need to let the insurer know so that they can factor in when calculating your premiums. Installing security equipment such as a tracker, alarm, and/or an immobilizer is a good idea because it will help you reduce your insurance premium.
When you describe your car usage on insurance forms, pay careful attention. Commercial vehicles and private vehicles used for business purposes usually pay more in insurance premiums compared to cars used for commuting. Make sure you are honest about how you use the car.
Read Also: How to get a cheap car insurance?
5- Multiple Car Usage
If you have more than one car or use more than one car for your transportation needs, then make sure the insurer knows this. You can reduce the premiums you pay on each car when not being used on a full-time basis.
6- Buying the Right Car
When buying a car, many people don’t think about the insurance until when they start paying for it. You should keep insurance premiums in mind when looking for a car because you can save yourself a lot of money. Insurance premiums usually increase based on engine size.
Make sure you check with the insurer to see how much the new car is going to cost to insure. This is going to help you make the right decision. This can even help you stay away from vehicles like sports cars that cost a lot to insure.
Modifications on your car increase your insurance costs. This will include adding spoilers, installing bigger engines, and fitting alloy wheels. You can easily end up voiding your existing policy if you do extreme modifications.
The best way to keep your insurance premiums low is to try and keep the car as close to the factory condition as possible.
8- Deductible Tinkering
Accepting a larger deductible is a great way of lowering your premiums. You have to pay more out of your pocket when making a claim, but it is going to significantly lower your insurance costs. When you choose higher deductibles, you are reducing the risk on the insurer’s part, and this is why they lower your premiums.
You should be sensible when it comes to deductibles because you don’t want to be faced with high costs if you end up in an accident.