How to Save Money on Car Insurance

Ford EdgeDo you want to save money on your car insurance? If so, you have come to the right place. We have gathered the five best ways to help you save on your insurance premiums.

1. Add a Person to Your Policy, No Matter Their Age - Adding a person to your insurance policy is a great way to lower your insurance premiums. When it comes to adding a person to your insurance, you do not necessarily need someone with more experience or older than you. Here is an example of how of how adding a person to your insurance policy can save you money. Mr. Lambert is a 29 year old male journalist who decided to add his 26 year old girlfriend to his auto insurance policy. When he added her to his policy, his premium went down more than £200 even though his girlfriend was younger and a more inexperienced driver. The reason that his insurance policy dropped was his girlfriend was a teacher, which is considered a safer driver than a journalist. The moral of this story is never to make assumptions and to call your insurance company and get a quote.

2. Think Large - Many people dream of a cute little sports car until it comes time to shop insurance quotes. Many people are astounded to find that insurance on their dream car. Instead, you may want to purchase a van to save your money. When Nick went to get insurance quotes on his dream car, he found that it was going to cost him more than £1,300 a year annually. After considering his options, he found a van that would lower his insurance quote to a little over £500 annually for full comprehensive insurance.

3. Opt for a Classic Car - Many people think that a classic car is the old antique cars that cost tens of thousands of dollars with high premium insurance policies; however, a classic does not need to be antique to save you money according to Money Expert. In fact, certain insurers consider newer cars as classics. For example, one insurance company considers a car a classic car when it is five to 10 years old. In order to maximize your savings, the car must be garaged and no more than 5,000 miles put on the car annually. When it comes to classic cars, shop around for the best insurance prices as they can vary greatly. For example, one insurance company gave a £300 quote on a Porsche 944 while another company came back with a £1,000 quote on the same car.

4. Park Your Car on the Street Rather than in the Garage to Save You Money on Your Insurance Policy - It may come as a surprise to many car owners that parking on the street can save you money on your car insurance premiums. Read your insurance policy carefully to determine where the policy says that the car will be parked. One customer realized that their policy stated it was street parked. When he contacted his insurer, he found that his insurance premium would go up if it was parked in a garage. The reason behind this is that many insurers have found that there are more claims to garaged cars than street parked cars. One reason for this is that a thief is unlikely to know which house a street car belongs to, thus minimizing the risk of car theft.

5. Avoid Car Insurance Comparison Websites - Many people think they will save money by using an insurance comparison website; however, many insurance companies do not post on comparison websites. Instead, they offer discounts to help attract customers. For example, some auto insurance companies will offer a discount on renewal, money back if you have not filed any claims or multi-car or multi-policy discounts for those who insure more than one car or carry their homeowners or rental insurance through the same insurer. When shopping for insurance quotes, make sure to comparison shop your insurance quote at several competitors to get you the best deal.

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