Insurance is one of those purchases that requires a mature and foresightful mindset. The reality is that it's not really about if you will have a bump or a scrape, but when... Once you come to terms with this, it then becomes a question of spending as little as needed on your premiums whilst getting comprehensive cover for you personal needs.
There can be a number of different factors affecting your cars insurance rates, typically younger (and therefore less experienced) drivers and those having suffered through accidents will get charged higher premiums. So, you may ask, what measures can be taken to reduce your car insurance?
Nowadays, motorists can install a monitoring device in their vehicle that tracks the way that you drive. The device will measure how frequently you brake harshly, how fast you accelerate and whether you exceed speed limits, among other criteria. By displaying good driving habits you make yourself a lower risk liability, which can influence your premium for the better. (In some cases a tracking device is considered a security requirement and a discount will not be applicable.)
You can also apply for a voluntary excess where you agree to pay a higher excess, resulting in a lower premium. This is a slightly more risky approach if you are accident prone.
Taking an approved defensive driving course can also help reduce your premiums and make you a more diligent driver in the process. These courses alert you to the dangers of the road and can also provide accident prevention training, teaching you how to handle hydroplaning on wet surfaces and other advanced road safety techniques.
If you have more than one vehicle, another way to obtain a discount is by insuring all of your cars or drivers at once. Some insurance companies will offer a bulk rate if you are insuring multiple vehicles and providing them with more business.
Also bear in mind that when you claim, it can count against you at your next premium review. If you have a minor incident that is barely covered after your excess, it might be a better idea to cover it with cash and save on higher premiums later down the line.
It is important that you directly ask your insurance company/agent before taking measures to reduce your premium that might not be available or applicable.
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