Having splashed cold cash on the vehicle itself, it is only fair that you get a reasonable insurance cover for your car. Despite the rampant mushrooming of car insurers, the cost of insurance remains considerably high, and shopping for reasonable rates could help you save hundreds of dollars in the long run.
Better Renewal deal
Whether you are looking for insurance for your new car or just a renewal, there are multiple ways you can get a better deal that will save you tons of dollars. In the case of renewal it is advisable that you don’t blindly accept the renewal quote from your insurer given they are likely more expensive compared to rival offers.
Well, if you are pleased with the services of your current insurer- negotiating for a better deal won’t harm. You can always have leverage on the negotiating table if you present them a better offer from their rival(s) in which case they’ll be forced to match it.
Customization and Non-Discount Claim
Also, settle for a company that permits customization of your insurance plan. According to your preference, you can as well lower/increase your excess and pay less/more premiums respectively. Customization allows you to add or strip additional benefits which will affect the premium.
Shopping for insurance with a no-claim discount is a solid negotiation tool. Safeguard your No-claim discount (NCD) and avoid paying up to twice the standard premiums. Other insurers offer a No-Claim Discount protector where you can make one claim that will not affect your NCD. Ideally, a single claim will drain about 30% of your NCD, and you’ll be staring at exorbitant premiums henceforth.
You can also pay reduced premiums if you drive fewer miles annually. This is subject to what you use your car for. Lastly, if it is not necessary to avoid listing young inexperienced drivers on your cover, they are extremely expensive.