Insure Life: securing a cheaper car premium

The journey to your desired car insurance final destination is a rocky road...

10:25 23 October 2013

High premiums are keeping motorists grounded

The trend of late has been that of very high insurance premiums and it doesn’t seem to be heading down any time soon. To this end, it is important to find ways of mitigating the cost to a manageable level.

Below are some of the ways that most people have adopted to keep costs down.

Switching your insurance providers

Walking away is one of the ways of ensuring that you are free to make the best choices available. When you decide to ditch your current insurance provider, you should take the no claim bonus and save money.

Why make the move? In an effort to lure new policy holders, insurance companies come up with special discounts when you join. However, the mystique that comes with them often disappears as soon as a year is over. If you are unhappy, you can always switch and take advantage of the deals that come with the move.

If you are looking to stick with your current provider, then you should keep an eye out for automatic policy renewals.

Add a second driver

In order to keep insurance costs down, parents have adopted a novel method of naming themselves as the second driver.  Most insurers will allow parents to be enjoined in the young driver’s policy.

 

However, if you are the second driver, list yourself as such lest you be accused of fronting.

 

Fronting invalidates your insurance claim and is a recipe for trouble.

Deals: Make one and save

Haggling is something you might have to employ if you are looking to keep your insurance costs down. However, don’t over-quote the prices because the reps know what will be quoted. You may get a discount for loyalty.

The right policy is important

Take what you will use and leave all that other things behind.