What are some of the best ways in which you can keep your car insurance premiums down? Some of the best approaches to consider include comparing the market as much as possible for specialist insurers, while also agreeing to increase your voluntary excess; other methods include investing in new security measures and choosing the right car to avoid being penalised for creating undue risk. These, and other approaches, can help you to take control of your car insurance premiums in the future.
Compare the Market
If you’re a young driver, or if you have a classic car that’s hard to insure, consider comparing the market as much as you can to prevent paying more than you should for your premium; this can include looking at specialist insurance companies such as DirectAsia.com Singapore, as well as companies that can tailor your policy to your needs.
Agree on a Higher Excess
Raising the amount you voluntarily pay before receiving money from an insurance company does represent something of a calculated risk, but can help you to drive down your premiums.
Invest in New Security Measures
You can prove to your insurance company that you’re going to be responsible by taking every possible action you can to protect your car; this includes fitting security immobilisers, leaving your car in a garage overnight, and completing advanced driving courses to improve your reactions while out on the road.
Consider Telematics Insurance
Another option to consider when looking for car insurance is telematics – – this involves fitting a black box to your car that records your driving habits and feeds them back to your insurer. Doing so can help to generate a more accurate quote for your future premiums.
Add Another Driver
If you’re a young driver, you can benefit from adding a family member or other experienced driver to your policy; this can lower your premiums by showing that you’ve made more of a commitment to sharing your driving risk with another person.
Arrange for Annual Payments
It’s much better to go for annual payments on your insurance, rather than monthly ones, as they can generate higher interest rates; this is an important factor to consider when looking for car insurance, and again makes it important to compare insurers to see which can offer you the best deal.
Choose the Right Car
You’re more likely to receive a high premium quote if you’re driving a fast car, or one that’s had a lot of modifications. Investing in a safe, reliable car can make it easier to convince your insurer to lower your premiums.
Cut Down on Your Mileage
Agreeing on an average mileage with your insurance company can sometimes enable you to receive more favourable terms on your policy, especially if you can combine this with telematics recording.