How to REDUCE Your Insurance Premiums

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Save money with these tips!

Yes, you can reduce your Insurance premiums! 

You should never be without vehicle insurance, but you can keep check on your premiums. Use these strategies to reduce your premiums:

1.    Consolidate your insurance needs.

Use one insurer for all your insurance to earn a multi-policy discount. 

2.    Enquire before you buy.

When buying a new vehicle get insurance quotes on the various options you are considering. Make, year and model of the vehicle influence your insurance premium. 

3.    Increase your excess.

Discuss increased excess payments to decrease your premium. Be sure to have the excess amount available at all time. 

4.    Be a careful driver.

Avoid speeding and therefore involvement in accidents or traffic violations. Some companies reduce your premiums if you are traffic violation free for three years. Others offer attractive claim free bonuses. 

5.    Reduced cover.

It is worth reducing the insurance cover of an older and paid for vehicle to third party cover only. It will cover the damage you might cause to the vehicle or property of a third party, but the damage to your vehicle will be for your own cost. The premium will be reduced as a result. 

6.    Teen discount.

Insuring your teenage children can be very expensive. A good student that maintains a B-average or above, might have reason for a discount. So does a teen that completed a safe driving course. 

7.    Safeguard your vehicle.

Cars that are kept in a garage, has a fitted alarm and tracking device, is cheaper to insure. Ask about a possible discount if you have the VIN number etched on the windows. 

8.    Skip extras.

You might be paying for a lot of unnecessary extras. Fine check your policy for extra cover you don’t need. 

9.    Pay as you drive.

Less time on the road reduces risk of damage and should reduce your premium. 

10.  Annual payments.

Paying annual premiums might eliminate administration fees charged for monthly premiums.

 

Enquire from your insurer about all possibilities of premium reduction!

 


 

Ref.:  http://frugalliving.about.com