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 lower your premiums will be,the less risk there is of the company having to pay you out for theft. Installing tracking devices costs money but it will also save you money. Check your insurance policy to determine if there are some items like reasonably priced security devices that you can utilize to affect your premiums.
The truth is, and it may sound strange but married people get lower insurance premiums. Why is this the case? Insurance providers know that, statistically speaking, married couples spend more time at home. This reduces the possibility of an accident. Additionally, when all the revelers leave bars and clubs at closing time, odds are that you’ll be at home, instead of out on the roads.
Sadly, if you are too young to qualify for this discount, you’ll just have to let time take it’s course. Older drivers pay less because statistics indicate that they drive more safely than younger ones. Also, after having been driving for years, older drivers are inevitably safer and more experienced.
If you should become involved in an accident, your premium could increase significantly. Your insurance company will consider you to be a financial risk and in turn, they will respond by increasing your premiums,if you are in an accident. If you haven’t had an accident, insurers will consider you a person who simply requires insurance, rather than someone whose driving record shows that they need insurance. As you most probably already know, many insurance companies offer attractive, No Claim bonuses. Staying accident free is the single most effective means of keeping your premiums at a minimum.
So,to summarize the ways to keep your car insurance premiums as low as possible, you should drive slowly, drive safely, install a security device and try to avoid accidents. Also keep in mind that when you become older, and your car becomes older, your insurance premiums will become lower because of the lower accident risk involved for the insurance company. Drive safely!
To read more on motor insurance visit getinsurance.co.za for a free car insurance quote.
categories: insurance,finance,car insurance,auto insurance