8 Ways to Get the Cheapest Car Insurance Possible

8 Ways to Get the Cheapest Car Insurance Possible
May 29, 2018 K Compare

8 Ways to Get the Cheapest Car Insurance Possible

In many countries, the car cannot be driven unless it is insured. In Pakistan, the owners are required to have a third-party insurance cover at the minimum, though comprehensive insurance is not mandatory. Comprehensive insurance is a choice that saves the car owner a huge amount of money if the car is stolen, burnt or meets an accident. Therefore, in simple words an insured car is a peace of mind, this “peace” however has a price tag. If the owner has an upmarket model this price tag can go into hundreds of thousands of rupees annually. The fact nevertheless remains that the insurance cost must not deter car owners from buying an insurance plan.

Now that we all agree that car insurance is a must, let’s see how a person can bring down the insurance cost at a fair price. Below are some of the tips that may help while buying a new car insurance policy or renewing an old one:

Car-Insurance insurance - Car Insurance 300x146 - 8 Ways to Get the Cheapest Car Insurance Possible

  • Homework for car insurance must begin much before a person decides to buy a new vehicle. This would give the buyer umpteen time to shop around for the insurance companies over the net or in person. The entire data will be available to compare the cost of premiums so that a conscious decision can be made. By doing so the buyer would have negotiated with the insurance company before he picks up the vehicle from the car dealership and opted for the best or the cheapest deal

 

  • Cars are too dear to men while choosing the model men to have a tendency to drift far off from the budget not realizing that they would be spending a lot more than the price tag on the car itself. Items like car registration and insurance cover are also to be considered. It is observed that by going overboard the most important ingredient; car insurance is compromised. Therefore, it is necessary that a person should select a car that has the lowest insurance rates. Fancy and Japanese models have a high premium because of expensive and scarce spares and accessories. Selecting a right model for a cheap insurance should be the high priority

 

  • Car insurance can also come cheap if it is attached with other insurances such as office, factory, shop or house. By attaching the car with other assets, the premium can be lowered to a significant level

 

  • Instead of paying quarterly or half-yearly premiums pay annual premium in a one go. There are two advantages if you do so, one; it will bring the premium amount down at a substantial degree, two; in case you forget to pay on time the car insurance cover will lapse and in case of any eventuality the insurance company will honor the claim

 

  • If you have two or more cars including the ones used for your business or office have these cars insured with the same company. Insurance companies have discounted packages for such customers which can be availed without any hassle

 

  • Negotiate hard, there is a reason to be embarrassed by feeling shy about asking for discounts or referring to other insurance companies quotes. It’s you who is paying and as a customer, it is your right to ask for a fair deal. Remember there are several insurance companies who are vying for your business and you have plentiful options

 

  • You should keep a record of dates when your auto insurance policy expires. Renewing your insurance before the policy lapses will affect the next policy thus bringing the cost down. If your car hasn’t met an accident or you have not filed any claim for damages you are entitled to a no claim bonus. Try to handle small repairs out of your own pocket rather making a claim. Many times the cost of small repairs is insignificant as compared to the no claim bonus you may receive will be renewing the policy

 

  • After market additions such as DVDs, cameras, audio system and alloy rims can be deleted from the policy if your car is generally parked at safe places. This can lower the insurance cost considerably

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