16 Tips Smart for Cutting Car Insurance Premiums Costs - Ratinah

Car Insurance Premiums - You should know before buying or renewing your car insurance premiums. These tried and tested tips won't cost you a penny but could save you hundreds every year.

16 Tips Smart for Cutting Car Insurance Premiums Costs - Ratinah

Car insurance is compulsory,  but it's not necessary to pay more than you have to. A few simple steps combined with some time surfing for competitive car insurance rates really can save you serious money at renewal time.

1. Cut the Risk and Cut the Cost

The easiest way to cut your car insurance premiums is to cut the risk and accept a higher voluntary excess. An insurer's standard excess may be £100 but if you meet the first £250 of any claim, you'll see a reduction in your premium. This is because you're taking on more of the risk so you get a discount. But it's a gamble, be aware that you might have to meet the cost of a broken window after an attempted theft or a bill for repairing bodywork damage after a car park crunch.

2. Security Means Savings

Fitting security devices can also result in cheap car insurance premiums. All major insurers insist on Thatcham rated security equipment, usually a minimum of an alarm. If you live in a high-risk area for car crime, it makes sense to fit extra security. It saves you money when your insurance renewal is due and gives you extra peace of mind.

3. Annual Mileage, Less Means More in Your Pocket

If your annual mileage is, 5,000 miles or less, ask insurers if they offer discounts for agreed mileage restrictions.

4. Named Drivers Trick

Adding a named driver to your policy can increase or reduce your premiums depending upon the named drivers age, sex and driving record. Adding a young driver will increase your premiums, particularly with a limited or poor driving record. However, adding a driver over 30 years old with a long and clean driving record can cut premiums, particularly if the named driver is female!

5 . Shop Around and Save Even More

The biggest car insurance savings come from shopping around. There can be massive differences between the lowest and highest car insurance quotes for exactly the same car and driver(s). Start off using good comparitive online quotation sites, take their best quotes and go direct to the cheapest car insurance company for more specific quotes.

6. Always buy car insurance from the same company

Loyalty does have a price. Likewise as a car insurance customer. If you use car insurance from company A every year, then after the protection period expires, it's a good idea to buy it again at the same company.

The reason is, some car insurance companies provide cashback, discounts, and other interesting promos, if you buy insurance products at the same company.

7. Equip the car with the best security system

Why does this one reason make premiums cheaper? The answer is that the risk of severe damage will be less. Disasters such as accidents, no one can predict.

However, if you show that the condition of the car is good, especially in security systems such as airbags and brakes, it will affect the premium price which is much cheaper. This also applies to those who want to insure a second car or an old car.

8. Maintain a good relationship with your insurance agent

You still have to maintain a good relationship with agents who sell insurance products. By maintaining a good relationship, you can also get more detailed information regarding the purchased policy.

In addition, you can also use the closeness to persuade agents to calculate premium prices that are really cheap.

9. Buy car insurance online

Buying insurance online is also beneficial for lowering premium prices. The reason is, buying all risk car insurance and TLO online can reduce agent services and commissions.

By buying online, like at Lifepal, you can also get the best car insurance costs that fit your budget and needs!

10. Buy TLO car insurance

The cost of TLO car insurance aka Total Loss Only is indeed cheaper than All Risk or Comprehensive. The reason is clear, the TLO insurance policy only covers the risk of serious damage of more than 75% or loss.

However, you can get a premium percentage of the price of the car much cheaper.

11. Ensure company credibility

Before making a choice, it's a good idea to first check the credibility of the insurance company. You do this by studying the details of the company's reputation when solving various problems with submitting car insurance claims for its customers.

Don't forget to check how long it takes the insurance company to process a claim. Preferably, choose a company that already has quite a lot of customers and is widely known by the public. \

12. Choose the type of insurance according to your needs

Based on the type of insurance that is often offered, you can choose the best insurance according to your needs. Be it all risks insurance or total loss only (TLO).

As explained above, all risks insurance will provide full coverage for all risks for your car, including minor or major accidents. Of course, this type of insurance is the most appropriate choice for new car buyers who are often used every day.

However, if the vehicle is more often at home, then the type of cheap car insurance that should be chosen is TLO. The reason is, this one insurance will guarantee vehicle damage that occurs above 75% only.

Therefore, before choosing the type or product of vehicle insurance, you need to also consider the condition of the engine, age, physique, and other supporting factors besides the price offered.

13. Study the policy offer carefully

You are required to study in detail all types of insurance options that you are interested in. Then, choose the type of policy that best suits your individual needs and abilities.

Don't forget to also pay attention to the details of the type of cheap car insurance policy based on the benefits and functions that you really want.

14. Don't be tempted by cheap premiums

Given the current tight competition in the insurance business, not a few companies offer many attractive promos. For example, promotions by offering super cheap premium prices.

Know, the facilities you get from car insurance really depend on the premium value. The higher the premium you pay, the greater the facilities you will get.

15. Pay attention to Dealer recommendations

There is nothing wrong if you ask for a recommendation from the best car insurance company from the dealer where you bought the vehicle. That way, you can more easily carry out the screening process to find an insurance company that has good credibility.

16. Pay attention to the insurance company partner workshop

Of course, you have to be able to make sure the insurance you choose has a good track record. You can check the network of branch offices or partner workshops.

In general, the network of branch offices and partner workshops will affect the claim process when there is damage or an accident. However, a more practical way in choosing the best car insurance company is to listen to the natural survival instincts that make you both safe and comfortable.

Prices do need to be considered, but don't just choose cheap

Having insurance is a must for four-wheeled vehicle owners, because it can provide protection to the owner's assets and finances. There are at least two types of insurance that can be chosen to provide protection for your favorite car according to its benefits, namely TLO and All Risk.

Both provide different protections, such as TLO insurance which provides compensation when damage occurs above 75% percent of the value of the vehicle. Meanwhile, All Risk insurance provides more comprehensive protection, for both minor and major damage. Of course, both have different premium values according to the form of coverage.

So next time your renewal quote arrives, don't just accept it and give your money away to the insurance company. Use the steps above and get the right cover at the right price.

That's 16 Tips Smart for Cutting Car Insurance Premiums Costs


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