InsuranceLecturer — The cost of motor insurance is increasing with each passing day. This implies that you have to keep aside a hefty amount of money for paying your insurance premiums each month. This will create an extra pressure on you.
Hence, if you’re planning to purchase motor insurance, then it is imperative to keep few things in mind. Go through this article to know about 5 effective tips that can help you get cheap motor insurance easily.
Tips to get cheap motor insurance
The 5 smart and effective tips that can help you get cheap motor insurance easily are given below:
- Buy small car: One of the best cheap motor insurance tips will be to buy small vehicles. You must not customize your vehicle. Also, stay away from imported vehicles for insurers charge higher premium rate on them.
- Anti-theft device: Insurance companies charge lower premium rate on the vehicles fitted with standard immobilizer. So, you should install an immobilizer in your vehicle.
- Shop for online insurance: Online motor insurance offer loads of discounts on vehicles. If you’re lucky enough, you can even get 10%-15% discount on motor insurance.
- Exclude comprehensive coverage: Is your vehicle is inexpensive or old? If yes, then it is better to take third-party, fire and theft insurance rather than comprehensive coverage.
- Limit the number of young drivers: Insurers charge high premium rate on young drivers, especially who are below 25 years. So, it is advisable to reduce the number of young drivers.
Finally, if you purchase all of your insurance policies from the same company, then you can reduce your insurance cost. The fact is when you’re purchasing various policies from the same company; you’re paying them a great chunk of money.
In short, the insurance company is earning a lot of money from you. This induces the insurance company to offer you concession for each policy you take from them. This is a great way to get cheap motor insurance policy.