When you’ve got a car, there are several factors that eat up a lot of your budget in maintaining it. The main expense is, of course, petrol. However, the next biggest outlay for your car is the insurance. The roads are never a hundred percent safe, and getting into an accident will result in damage that needs to be repaired and injuries that require medical attention. Fortunately, it’s possible to lower the amount you have to pay in your insurance premiums. Here are a few tips.
Know How Your Premiums are Calculated
The most important step that you can take when getting car insurance quotes from companies like Simply Insure is to ask them how they calculate the premiums. There are a lot of conditions involved into deciding how much you’ll pay. Most of the time, the people calculating your premiums have a checklist to see what adds or deducts to your premium.
For example, insurance providers often have multiple packages like home and health insurance along with their car insurance. If you already have a policy with them, you can probably get a discount on additional plans. Other conditions that can lower your premiums are also likely to be available. Be informed of these and try to meet as much of these criteria as possible.
Know More about Your Car
The next thing you need to know about is your vehicle. Car insurance is usually taken out to pay for repairs to your vehicle. Knowing exactly how much your car is worth can influence your decision on which plan to purchase. If your car is more valuable than the plan’s price, then you better choose the plan. However, the reverse is also true; car values sharply decline over the years, and you may actually be overpaying for your car’s insurance.
Remember that the money you receive from your insurance will be equal to the car’s current value, not when it was brand new. Renegotiate your premiums as needed. Other factors about your car that can lower your premiums are the size of your engine and the safety features installed.
Car insurance may seem expensive, but with the right knowledge, you can make it affordable. Visit your local insurer to find out more.
Handy tips to help cut your car insurance, TheJournal.ie
Tips to help reduce your insurance, CarsIreland.ie