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Abstract:
There are a number of things you can do to reduce the cost of your insurance premium. Below we have listed some tips to consider, for both you and your car. Some will require a little forward planning, but it will save you in the long run:
Tip 1 – Purchase a smaller car - the smaller your vehicle’s engine size, the lower your insurance premium will be.
Tip 2 – Look for a car with advanced security features – insurance premiums are higher for those cars that are more easily stolen. Newer cars will have better security features.
Tip 3 – Avoid imported cars - if your car is an import then insurers may raise your premium.
Tip 4 – Value your car correctly – both over and undervaluing your vehicle can affect your premium.
Tip 5 – Avoid modifying your vehicle – sometimes car modifications, such as supercharging of the engine, can push up your insurance premium.
Tip 6 – Keep your vehicle safe – if you have a garage then use it, as it will reduce your premium. Alternatively you could purchase a secure parking space nearby – it may cost you less than a higher premium. If you own an older car, try updating its security features by installing an alarm.
Insurance for you
Besides these car tips, there are things that you can do yourself to ensure your premium is lower:
Tip 1 – Take a Pass Plus driving test – The Pass Plus driving course tests additional driving skills, such as driving at night, driving on motorways, and long distance driving. Passing this course can mean substantial car insurance discounts. This is especially beneficial to first time drivers’ and their more costly premiums.
Tip 2 – Be a woman! As women are considered more careful drivers than men, their insurance costs are lower.
Tip 3 – Or add a woman – as a male, adding a female partner to your car insurance policy may bring down your insurance premium.
Tip 4 – Be a careful driver – this may seem a little obvious, but the fewer risks you take as a driver, the less likely you will be to pick up speeding tickets and fines, all of which push up the cost of your car insurance.
Tip 5 - Ask for a higher excess – increasing your excess can reduce your premium, especially when it comes to comprehensive cover. If you are a careful driver, less likely to make a claim, then this is a tip to consider. However, you must bear in mind that should you need to make a claim you will have to pay out a larger up front excess cost.
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