Reducing Car Insurance Premiums

Apart from choosing the right level of cover, we feel that the most important factor in reducing your premium is shopping around. Yes, your age, where you live, the make and model of your car, and your level of experience makes a difference, but you can't chance most of those factors; you can however try many different companies to find out which offers the best premium for you. You would think that with standardised insurance groups and computerisation of risk assessment the prices wouldn't vary that much. However, every company seems to use different factors when assessing risk, so while you might be seen as high risk by one company, another might consider you to be a much better proposition, and give you a much lower price for a similar level of cover. Of course the other factor related to price is the level of cover. Even a particular type of cover - e.g. Comprehensive - can mean very different things to different companies. Most will also now allow you to tailor your policy, so you can choose a smaller or larger 'excess', windscreen cover, replacement vehicle cover and a whole list of other options. Make sure you decide what cover you need, and then compare the prices of different insurers for that level of cover. Other was to reduce your premium We'll be looking at other ways to reduce your car insurance premium in more detail in other articles. For many people, the cost of insurance is a major factor in determining what vehicle they will drive. Where they keep the vehicle, who else drives it and the use that the vehicle will be put to are other major factors. Never lie to your insurer It's absolutely pointless lying to your insurance company in an attempt to reduce your premium. If they don't figure out your deception right away, they almost certainly will do when you need to make a claim. At that point, you will find that they'll reduce the payments they have to make to a minimum, and then the may attempt to recover the costs they did incur from you. Furthermore, you may find that you have also been guilty of driving without insurance, for which you will could pick up a driving ban, even on a first offence. And if that's not bad enough, you'll find it very difficult, and certainly much more expensive, to get any insurance in the future.

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