Step 1: Try lowering your mileage

Keeping your mileage low can save you a lot of money per year. Travelling by public transport or carpooling reduces your risk profile and as such will lower your monthly premium. Ask your prospective or current insurer whether they have a pay as you go plan.

Step 2: Increase your excess

When you claim, you will have to pay a percentage of the claim. This is called an excess, or deductible in the USA. Increasing this amount can have a significant impact on your monthly premium. Some companies offer a fixed excess, but then your monthly premium will be much higher. Consider what you can afford in the event of a claim and choose your insurance policy accordingly.

Step 3: Don’t add unnecessary cover

If you are not going to use roadside assistance or you have a spare vehicle that you hardly use, consider removing the additional cover from your insurance policy. Depending on whom you insure with, this can be a substantial amount. Keep in mind that with rental cover, the annual amount paid could be less than a single day’s car rental so it may be wise to keep that added cover.

Step 4: Mind what you drive

Different vehicles have different risk profiles. You will certainly pay more per month on a sports car or a vehicle that car hijackers prefer than if you drive a low profile, low risk vehicle. Some insurance companies will offer discounts on hybrid vehicles as well so keep that in mind if you drive one.

Step 5: Secure your vehicle

Safe parking, vehicle tracking devices, alarms and immobilizers will all lower your vehicle’s risk profile. Ensure that you only fit approved devices in your vehicle and have them inspected by your insurance company. Make sure you never leave your car unlocked or valuables in plain sight. This will only tempt thieves and will increase your risk profile with your insurers after you claim.

Step 6: Follow the rules of the road

Maintaining a safe driving record will have a major impact on the quote you receive from insurance companies. In some countries, they can even check traffic violations that you may have had in the past. Do not claim unless you absolutely have to, as this will also increase your risk profile. Make sure you obey the rules of the road at all times.

Step 7: Compare quotes

There are so many websites available that will provide multiple quotes online to make shopping for insurance a breeze. Utilize these websites and see which policy will save you the most, but also keep your eye on the excesses and other fine print in your policy.

View all Stuart Broad's articles

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About the Author:
Stuart Broad is a marketer at CheapCarInsurance.co.za and has vast experience in the insurance industry. He recommends that consumers shop around for motorcycle insurance and car insurance quotes and learn about Insurance Quote like AIG and Old Mutual.

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