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Save money by reducing your car insurance premiums
When it comes to renewing your car insurance policy there are a variety of different factors that affect the size of your insurance premium. These include the type of car you drive, where you live, your age, your sex, how much driving experience you have and the number of previous accidents amongst other things. Some of these are obviously out of your control but the following 123money tips should be able to save you some money on your car insurance.
1. Shop around for insurance quotes, don’t just accept your current insurers renewal quote. Insurance prices can vary significantly from one insurer to another and so it is important to get at least 3 quotes from different insurance providers/brokers.
2. When discussing your current insurer with other potential insurers providers always praise your current insurer as this will make their competitors work harder to win your business.
3. If the insurance provider/broker say something along the lines of “come back if someone else gives you a better quote” then what they are really telling you is that the quote they have given you is not their best quote. To avoid this simply tell them that you are shopping around for 3 quotes and will take the cheapest , this should encourage them to give you their best quote as you are effectively telling them that this is their one and only chance to win your business.
4. Keeping your car in a garage or on your drive will get you a cheaper quote than if you park it on the street. Similarly fitting extra alarms and security equipment will also reduce your motor insurance premium.
5. If you are considering buying a new car you should check to see which insurance group your new car will fall into as this will have a big impact on your car insurance.
6. Taking an advanced driving test will save you money on your car insurance as the chances of you making a claim should be reduced making you a less risky individual.
7. Avoid modifying your car as those flashy spoiler and other modifications could result in you paying a higher motor insurance premium.
8. If your car is quite old or has a fairly low value you should think about just getting ‘third party, fire and theft’ rather than taking ‘comprehensive’ cover.
9. Avoid speeding as the more points you collect on your license the more of a risk an insurer will see you and the less they will want to insure you hence the more they will charge you in motor premiums.
10. Just before you agree to your cheapest quote it may be worth going back to you second best quote to see if they would be willing to undercut your best quote.
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