Owning a car is no piece of cake. There is a lot of investment that goes behind it; it doesn’t end with just buying the car. Then come the tax and the insurance, and let’s not even forget the fuel. Motor insurance can take out a sizeable part of your income, and especially if you happen to be a young driver. Statistics have shown that young motorists pay much more than the average premium because they are more likely to claim the insurance. However it doesn’t have to be that way. There are ways of cutting the cost and finding cheap motor insurance.
Check the insurance rating
Cars are divided into groups based on aspects like engine size and average cost of repair. If you buy a car in one of the higher groups then you will pay a bigger premium. If you think that could be a problem then check the insurance rating of your car before you do so. Also, fancy modifications will mean a higher premium so keep off the wheel trims.
Control the mileage
Lower mileage means lower premium because statistically you are at a lower accident risk than someone who is driving a lot of the time. It also depends on driving times and habits. For example, if you are a daily commuter using crowded routes, then your insurance premium will be higher since you are more likely to crash as opposed to a motorist who drives only on Sundays.
Work out your driving habits and your average mileage per year with your insurance provider. Remember that if you go over the set mileage your motor insurance policy will be invalidated.
Using Pay As You Go
Motorists who drive very sparingly or don’t drive during peak hours can go in for a massive cut on their premiums by opting for pay as you go policy. In this, your insurance provider will fit your car with a tracker that monitors the miles that you drive and so you only pay for the insurance that you require. This is a good option for people who cannot afford steady car insurance premiums or even drivers who use their car sparingly.
Follow the rules
If you get into traffic trouble, you will have to pay higher on your premium. Follow the rules and drive with care. Remember that in case you have gotten into some heavy traffic trouble, the premium might just become unaffordable for you.
If you don’t make claims you can build a NCD or a no-claims discount. If you have gone five years consecutively without claiming, the NCD can cut down more than half your premium. So, if you have small accidents, it can work out better in the long run if you repair it out of your pocket. Protect your NCD and you will reap the benefits later on.
Choose your policy with care
There are generally three kinds of car insurance that you get: Third Party, Fire & Theft and Fully Comprehensive. The most basic is the Third Party which is the bare legal minimum to drive on the road. If your car isn’t very valuable, go for a cheaper and basic form of policy. The most common and bets form of cover is the Comprehensive which has a broad range.
Make sure to drive safe, keep your car well protected `against thieves and park with care to avoid car theft. Using these methods will definitely bring down your insurance premium to an easy payment.
About the author
Paige Matthews works with one of the most reputed motor insurance companies in the business. She has personally helped many first time motorists and buyers with tips to cut down their premiums. Paige loves to cook for her friends and family over the weekend.