Is the cost of insuring your car giving you sleepless nights?
You’re not alone. At a time when inflation is heating up, the price of almost everything, including car insurance, is skyrocketing, and almost everyone is feeling the pinch.
If you had your way, you could do without car insurance. Unfortunately, in many jurisdictions, it’s illegal to drive an uninsured vehicle. The good news is there are steps you can take to save on car insurance.
Read on to learn what you can do to make great car insurance savings.
1. Ditch That High-End Car
Let’s admit it: we all love high-end cars.
Whether it’s a luxury sports car or a big SUV, high-end cars aren’t just fun to drive. They’re also packed with the latest automotive technologies, which makes them safer.
Though, it’s all fun until it’s time to insure them. There’s a direct relationship between the value of a vehicle and the cost of insuring it. Expensive cars command big insurance bills.
So, if you’re looking to pay as little as possible in car insurance, it helps to drive a cheap car. This could mean selling your high-end car and replacing it with a more affordable one.
If you’re not financially prepared to acquire another car, don’t shy away from taking part in vehicle sweepstakes like these current competitions. With just a few quids and some luck, you could win yourself a Ford Fiesta or VW Golf!
2. Do Extensive Window Shopping
There are thousands of car insurance companies, and they’ll all offer you different rates for insuring your car. Therefore, it follows that if you don’t shop around widely and get multiple car insurance quotes, you might miss out on the best deal.
That said, keep in mind that the cheapest insurance isn’t necessarily the best insurance for your car. You want to get your car insured by a reliable company that won’t frustrate you in the event that you file a claim.
Vet the insurers you’re considering and choose one based on several factors, not just their rates.
3. Maintain a Good Driving Record
Insurance companies look at a person’s driving record to calculate the risk involved in insuring their car. If you’re a high-risk driver, which means you’re more likely to be involved in accidents, you’ll be slapped with higher car insurance premiums.
Maintaining a good driving record is the best way to achieve a low-risk driver status. Drive safely, and don’t shy away from fighting traffic tickets that you feel have been given to you unfairly.
4. Don’t Get More Coverage Than You Need, For Now
The law sets out the minimum liability insurance every driver should have, but you’re free to purchase additional coverage to adequately protect yourself from financial loss. For example, you can add uninsured motorist insurance and comprehensive insurance on top of liability coverage.
However, when you’re in a tough financial spot and want cheap car insurance, consider not purchasing additional coverage, as it will drive up your premiums.
It’s Easy to Save on Car Insurance
Your car is an important part of your life, but you shouldn’t pay an arm and a leg to keep it on the road. If you’re looking to cut the cost of car ownership, insurance should be your first stop. Use these tips to save on car insurance.
Explore our blog for more handy tips and hacks.
