7 Ways to pay a lower Car Insurance Premium

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YESSS!!! Pay less on Car Insurance!

How to pay a lower Car Insurance premium

When you buy a car, you have to be prepared for some additional monthly expenses. These monthly expenses include monthly installments on your car, fuel, toll fees, oil, maintenance and last, but not least – your car insurance premium.

You can’t do anything about the price of fuel, unless you want to trade your car for a scooter and you cannot stop paying your car loan. You can choose to drive on back roads and bypass e-toll, but then you are subjected to more potholes and subsequent damage to your tires and rims. If you do not maintain your car, you may have to fork out a lot of money on repairs for mechanical and/or electrical failure. The only thing you can actually save money on, is paying a lower car insurance premium. Here’s how to do it.

7 Ways to help you pay a lower Car Insurance premium

When you buy a car, consider the following 7 factors:

1 Vehicle Value

The more expensive the vehicle you want to insure, the higher your Car Insurance premium will be. The high cost is a result of repair and replacement cost. If you want to pay lower Car Insurance premiums from the word go, buy a less expensive car.

2 Vehicle parts and repair

Vehicle parts and repair costs regarding specific vehicles are factors that also elevate Car Insurance premiums. The availability of vehicle parts also affects the premium. Cars with readily available and inexpensive replacement parts will be less expensive to insure.

3 Muscle cars and sports cars

Cars that are built for speed will require a higher insurance premium, due to the higher risk involved regarding probable speeding and accidents. These cars are also a higher risk regarding car theft and vehicle vandalism.

4 Expensive Extras

Insurance premiums will be higher when you add expensive sound systems and modifications to your car. The replacement value and the car is also a greater target foe car thieves. You can pay a lower Car Insurance premium if you keep the standard sound system and refrain from adding visible modifications to your vehicle.

5 The color of your car

Car owners with lighter colored vehicles usually pay a lower Car Insurance premium, due to the fact that more car accidents involve cars of darker colors. Statistics show that dark cars are less visible at dawn, dusk and at night.

6 Safety and Security

You can pay a lower car insurance premium if you install an improved vehicle tracking device, car alarm and gear lock.

7 High risk Vehicles

Certain makes and models of cars are more likely to be stolen. Speak to a consultant from your Insurance provider and find out which vehicles are statistically classified as high risk.

With the information provided here, you now have 7 ways in which to counter insurance costs and pay a lower car insurance premium.