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| Car Insurance |
There are a number of other alternatives you can take to reduce your car insurance costs. It is important to know what to take and what to keep to meet your needs. What applies to others may not apply to you.
Tips for saving money on your car insurance.
Marital status:
Single men pay more for their auto insurance than married men. Insurers conducted research and showed that married men have lower claim ratios, and therefore they are more willing to charge less for their vehicle insurance.
Vehicle Security:
The safer your vehicle, the less likely it is to be stolen, and the less likely your insurance company will have to process claims. As such, the auto insurance company will reward you for installing items such as an alarm and an immobilizer if your car doesn't already have one.
Check with your employer to see what will reduce your premiums the most, as some safety equipment can be very expensive. You want to make sure that the costs are offset by the savings in your coverage.
Driving behavior:
Being caught speeding or committing some other traffic violation can increase the cost of your auto insurance, or even jeopardize your chances of getting any coverage at all. The closer to the letter of the law you drive, the better or both financially and in terms of security for yourself and others.
Modification:
If you modify your car in any way, you should let your insurance company know. Performance or styling modifications will always increase your premium. If you are looking for cheap auto insurance, you should keep any changes to a minimum.
Main Driver:
If a car in the house is split equally, but one driver has significantly more experience or fewer penalty points, naming them the primary driver (with you as the designated driver) can save money on your auto insurance.
Safe Driver Discount:
You are entitled to a 5% discount given by the Traffic Police if you have not committed a traffic violation in the last 3 years based on 30% or more of the No Claim Discount.
Sell your car at the right time:
Let's say you took out insurance in April and intend to sell your car in May of next year. In the context of insurance, you must fulfill 1 year to enjoy your 10% to 20% No Claim Discount (NCD) entitlement.
Therefore, it would be more advisable to sell your car in December to enjoy the rights. However, if you enjoy a 50% NCD (the maximum that an insurance company can provide), it doesn't matter when you want to sell your car.
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