Auto Insurance Tips - Get Your Premiums Down!

Get quotes from at least three insurance companies to compare price and service options. For this to work, you need to make sure you're comparing like with like. Rates will vary from one company to another. That's just how a market works. However, the lowest priced insurance may not give the extent of coverage you need. Look at what's covered in the event of a claim, the price, benefits and services.

Look for discounts. Things like a good driving record, your car's safety and security features, your mileage or security equipment, some occupations or professional affiliations will bring your premiums down. Using the same insurance company for home, car, even life and health policies will bring the cost of your car insurance costs down.

Your driving record will affect your premiums. This is based on the number of years you've been licensed to drive and the number of convictions you've attracted or the number of at-fault accidents you've been involved in. The better your record, the lower your insurance premiums.

The type of car you drive. Cars are rated differently even amongst their own class. Theft and injury rates, the collision history, comprehensive claims and vehicle values vary across a spectrum. The less likely x model is to be involved in any kind of claim, the lower your premiums.

Never take the first quote. Refuse it and wait for them to call you back with a lower one. If they want your business, they will.

Offer a higher excess. This is the amount above which you will require compensation for e.g. your excess is £200. If the loss to you is £205, the insurance company only pays you £5 in compensation. You accept a higher excess so that your premiums will be low. Your insurance company is looking to save money, just as you are. If you can easily afford x amount if your car gets damaged and you're a careful driver, it makes financial sense not to waste money by sending it to an insurance company every month.

Tell The Truth. Tell the insurer if you've modified your car e.g. with alloy wheels. Tell them if you're going to be using it for business or if someone else will be driving it. Insurers look for ways not to pay out on claims. This is entirely legitmate. They're not a bank. If you make a claim and the car or your record is not as you've described it, they can deny your claim.