CAR INSURANCE

Premium

When it comes to comprehensive car insurance the premiumis the amount that you pay for your policy.

 

The amount that you pay for your premium will depend on a number of factors including your gender, age, the car you drive, where you reside, how your cark is parked overnight and the number of drivers. Car insurance providers will also look at your driving history and your level of no-claim bonus.

 

There are a number of ways that you can reduce your premium for your car insurance. Some ways include:

  • Restrict drivers. Most insurance companies allow you to restrict the age of those who will drive the car, which could entitle you to a discount.
  • Security devices. Having a security device in your car can reduce your premium. If you have an alarm or immobilisers in your car, make sure you list this in your driver profile. If you don't have either of these types of security devices, consider installing at least one as not only may it scare off potential thieves but it may also reduce your premium.
  • Increase your excess. Increasing the amount of excess that you pay will reduce your premium. However, keep in mind that this means that if you make a claim you will have to pay the amount of excess you agreed to.
  • Pay upfront. Most car insurance companies give you the option to pay your premium annually upfront, by the month or each quarter. If you can, pay your premium in full upfront as this usually is at a reduced rate in comparison to the other options.
  • Increase your no-claim bonus. No-claim bonus is the discount off your car insurance you are entitled to as a reward for not making a claim. So each year that you don't make a claim your discount increases. To increase or maintain your level of no-claim bonus, ensure that you drive carefully and avoid making claims where possible. Be aware the 60 percent or Level 1 is usually the maximum you can receive.
  • Compare car insurance quotes online. By comparing quotes online you will be able to see what premiums other car insurers offer and what is included in your policy. Choose one that is not only cheaper but suits you well.

 

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