All You Need To Know When It Comes To Saving On Car Insurance

April 16, 2017 · Posted in General Articles on Car Insurance 

With inflation climbing at a staggering rate in response to the current global financial crisis, we ought to be looking at all possible ways in which to save some money. If we take advantage of some of the suggestions listed below, we can reduce our car insurance rates and save some significant money: Statistics have shown that those who buy fast cars are proven to be fast drivers. Fast driving indeed increases the chances of accidents, which is well known to insurance companies. From an insurance company’s point of view, this makes you a bigger risk which they compensate for by charging you more. If you’re considering buying another car, you should seriously consider buying an economical model with a small engine capacity.

The less risk there is of the company having to pay you out for theft, the lower your premiums will be. Installing a tracking device will save you money even though you have to pay for the tracking. Check your insurance policy to determine if there are some items like reasonably priced security devices that you can utilize to affect your premiums.

Although it may sound unusual, insurance premiums are less when people are married. Why is this the case? Insurance providers know that, statistically speaking, married people spend more time at home. This reduces the probability of an accident. Furthermore, when all the party animals leave the nightclubs, you’ll more than likely be at home instead of on the roads at such a hazardous time.

Unfortunately if you don’t qualify for this yet then you’ll simply have to wait your turn because it’s a fact, older drivers pay less simply because they are no longer as reckless as young drivers. A mature driver has the experience to handle most situations that may arise when driving in traffic.

The easiest way to make your premiums higher is to have an accident. If you are in an accident, your insurance company will consider you to be a financial risk and in turn, they will respond by increasing your premiums. But then if you don’t get into any accidents, then you will be seen as a person who requires insurance instead of someone who needs insurance. You might already be aware that a number of insurance companies offer “No Claim” bonuses. Staying accident free is the single most effective means of keeping your premiums at a minimum.

We all know that it is not by choice that we make accidents, it is by accident…so the luck fairy surely plays a big role here. The only things that you can do to prevent higher premiums are: drive within the speed limits, drive safely and install a tracking device. And then you should be patient and wait until you are older and your car becomes older – then you too will benefit from lower car insurance premiums. Drive safely!

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