Can you imagine a life without a car in modern times? Today having a car is a must for everybody. But owning a car also comes with its share of expenses. One of the major expenses associated with a car ownership is the car insurance. As it is an expense, it makes sense to reduce your premium amount. Here are few tips to lower your car insurance.
• Avoid certain cars like Qualis, Sumo and Tavera as they are used mostly for commercial purpose. Hence they attract higher premium for car insurance, even if you are buying them for your personal use.
• Always go for petrol engine, instead of diesel, LPG or CNG engine, as they attract 10-15% more premium. Similarly engines whose body is made from fibre have higher premium than those made by the metal.
• Include safety devices like seat belts, air bags etc. These devices will not only save you in case of accident, but will also lower your insurance premium.
• Reduce the number of accessories like audio, systems, air conditioning fitted to your car. These accessories do increase your insurance premium.
• Your profile also pays a vital role in determining your insurance premium. If you have ever been in an accident, your premium amount will go up.
• Shop around for good bargains, as different insurers offer different rates for the cover.
• Imported cars attract higher premium than the indigenous cars. This is because spares for imported cars are very expensive.
These tips will go a long way in saving you money on your insurance premium.