Tips for Lowering Your Car Insurance Rates

Tips for Lowering Your Car Insurance Rates
May 26, 2018 K Compare

Tips for Lowering Your Car Insurance Rates


These days when a person buys an automobile, car insurance is the top priority, and frankly speaking this is how it should be. Since the prices of cars keep increasing each passing day the cost of insurance cover is also on the rise.  Likewise, the renewal of insurance cover also needs an in-depth examination prior to renewing or purchasing a fresh car insurance.

Below are some good tips for lowering your car insurance rates:

  • Lowering the insurance rate is your right, this however does not mean you go for a company or an insurance package that compromises the whole idea of having a valid and viable car insurance. Car insurance rates differ a great deal from one insurance company to another. A detailed search and window shopping can bring you expected results. With such data at hand you are now well equipped to lead to smart negotiation thus saving handsome amount each year. Needless to say, your market knowledge on which insurance company is most competitive is paramount


  • If you are buying a new car you must built in the insurance cost, remember this is not a onetime cost. The car insurance premium needs to be paid each year when the car insurance policy is renewed. It is better to buy a make or a model whose insurance expense you can manage without a break. A relatively inexpensive car will surely have a low insurance rate


  • The car insurance in 2018 has risen fairly high. This is mainly due to increase in the government taxes on spare parts and accessories. The rates for out of market makes and models such as Mercedes, Audi, BMW may be slightly higher to regular makes such as Honda, Toyota or Suzuki, irrespective if the cost is similar or slightly differs. This is because the insurance company feels the repair cost will be significantly higher because of spares and accessories. By choosing the right model you can reduce the insurance rate to a great degree


  • Try to take care of minor repairs due to accidents by yourself instead of asking car insurance company to foot the bill. This way when you renew the car insurance policy you can demand no claim bonus thus lowering the insurance rate quite significantly


  • There are several general insurance companies who would be willing to offer home insurance along with car insurance at highly competitive insurance rates. If you have any plans to buy an insurance cover for your house, office, factory or a shop combine it with your car insurance to avail best possible deal


  • Similarly, if you are a two-car household having one insurance company for both the cars can fetch a good deal hence saving decent money and lower insurance rate


  • If your car is safely parked inside the house premises, and is chauffer driven maybe you can exclude the accessories such as an expensive audio system, navigation system, DVD player from the list. This will significantly lower the insurance rate


  • The renewal premium must be paid before the insurance cover lapses. There are two main reason:
  1. The car is fully secured and never at risk. In case the car insurance has expired even for a single day you have given an excuse to the insurance company to shy away from settling the insurance claim. You can rest assure that the insurance will not pay even a dime
  2. By buying a car insurance before the earlier expires you can demand no claim bonus lowering insurance rate. Supposedly your current car insurance expires in December 2107, you should have renewed your insurance before 2018 begins


  • It is advised to pay full premium in one go. Otherwise likely are the chances you will forget to pay quarterly installments thus making your car vulnerable and perhaps you’ll not receive a good insurance rate.

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