Car insurance companies calculate risks to determine how much a potential customer’s premium will be. Premiums usually drop when there is less risk. However, businesses don’t give away their services for free.
So how do you find the cheapest car insurance that still provides ample protection to you and your passengers should the unfortunate happen?
Looking for Car Insurance Quotes and Discounts
One of the best ways to find affordable car insurance that works is by taking recommendations from loved ones or friends. These people are more likely to help you find a good deal instead of steering you the wrong way. Nevertheless, you must complete a quote process before you know for sure how much your premium will cost. This means that you need to fill out information for all the companies that your loved ones or friends suggest.
Another way to quickly get car insurance quotes is by using Google or any search engine. Most car insurers now have a website or some sort of online page so you can easily request a quote from them. A new way to help you filter your options is by visiting quote comparison websites.
All you need to do is enter your information and within a few clicks, you’ll have numerous car insurance quotes from several different insurers. From there, you can compare rates and choose an insurance provider that meets your budget.
Once you have narrowed down your choices, ask the car insurance company or their agents which discounts are available for you. Car insurance discounts generally fall into several categories. There are deals for students, teens with good grades, and drivers with good driving records. In some cases, you can also get insurance discounts for having telematics or anti-theft devices installed in your car.
Other car insurers offer loyalty discounts, early renewal discounts, paid-in-full discounts, and multi-policy discounts for bundling your car and home policies.
Money-Saving Tips to Get a Cheaper Car Insurance
Everyone wants to save money. One way to do that is by getting affordable car insurance. But finding the perfect balance between rates that fit within your budget and the quality of coverage can be challenging. Here are some tips to help you shop with confidence:
- Think about the car you want to insure. Vehicles with small engines generally belong in the low insurance group, thus, have lower premiums. Even the road tax for these cars should be less, too. Also, if you’ve been eyeing a luxury sports car, it’s likely going to be more expensive to insure. This is because the cost of repair for these vehicles is often higher. Another reason is the notion that sports cars are more prone to reckless driving.
- Take an advanced driving course. Although it’s not always guaranteed, passing an advanced driving test may reduce your car insurance cost. The extra courses could potentially make you a safer driver, thus, lowering your risk of getting involved in a car accident. Fewer accidents mean that there will be fewer claims. In the long term, this could mean cheaper premiums.
- Limit your mileage. Try to limit the number of miles you drive each year. Usage-based car insurance companies will find that you’re at a lower risk if you have fewer miles on your odometer. When getting a quote, make sure that you give the potential car insurer an accurate estimate of your car mileage. You don’t want to pay your premium only to learn that your policy is invalid because they found you were dishonest about your mileage.
- Opt for annual payments. The monthly payment of car insurance is a loan with added interest. So, it would be cheaper to pay your premium in a lump sum. If paying in one go is not yet an option for you now, consider other options like paying on a zero-interest credit card. Just ensure that you can pay off the balance before its interest-free period ends.
- Only pay for what you need. You may be tempted to go for a more expensive policy with lots of add-ons. But it would be best to go for a deal that has everything you need for the right price. It might be cheaper to buy add-ons like a courtesy car cover, windscreen cover, legal assistance, and more, as separate products.
The Bottom Line
Is this your first-time buying car insurance? Maybe you’re about to renew your policy and want to cut the cost of your premium. Fortunately, more and more car insurance companies seem to offer various discounts today to make premiums more affordable. But as the adage goes, cheap isn’t always better.
When searching for the right car insurance for your needs, make sure that you keep your options open. Compare at least three insurers and rank them not just according to their available car insurance discounts. Equally important factors are coverage options, monthly fees, industry standing, and client satisfaction.
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