Reducing the car insurance premium is as important as buying the car and insuring it in the first place. There are several ways through which you can make sure that you would have to pay the valid and minimum premium for your vehicles.
1. Take care of the deductibles
Deductible is the amount which you are willing to pay for the repair, before your insurance covers the other things. You are allowed to choose these deductibles either in the beginning or during the time of car insurance renewal. The Higher you choose the deductibles, the lower will be your premium percentage to be paid.
2. No claims for small expenses (choose wisely)
Here is the trick! Do not claim the car insurance for the damages which you can afford from your pocket. Making claims of small amounts can go against the purpose of your insurance policy, as for every claim you make, you lose some of your No Claim Bonus (NCB).
3. Compare various premiums
Before deciding on any one policy, look around and compare car insurance policies from various insurance companies, then pick the policy which is the most favorable for you. You can easily get the offers and insurance structure from the company's personal website or other websites which give authentic reviews and comparisons of the insurance policies.
Moreover, if you have multiple policies with same insurance firm, it gives you more credibility and lower premium, considering your loyalty towards their company.
4. No Claim Bonus
Many people don't know that if they do not make any claim for consecutive years, they can collect the no-claims-bonus. This allows them to get a discount up to 50% which could turn out to be a great relief in paying the premium.
5. Drive safely
Drive carefully, as vehicle insurance is already an expensive affair in general. In case you have any moving violations or accidents caused in your name, it will harm your reputation. However, in a few countries, moving violations are revoked after three years, which can be beneficial for you to regain your lost credibility.
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