Younger drivers are at a disadvantage when it comes to calculation of premium amounts. This is because companies consider younger drivers and new drivers to be at higher levels of risk. It will therefore become necessary to look at various other options to keep the premium amount low. Fortunately many options exist where in an individual can use a combination of different options to bring about considerable savings in the premium amount that need to be paid. Here is a younger car owners can save on premium amount.
Dispense With Monthly Or Quarterly Premium Payments
The first decision needs to be the payment of the premium amount. This should be payable annually and not monthly or quarterly. This will bring down the amount payable to a certain extent. In any case car owners will need to fulfill their applications of making payments. And another advantage of making an annual payment is avoiding the possibility of defaulting on monthly or quarterly payments and then spending time and effort in trying to make the payment within the grace period.
Higher Driving Licence
New car drivers can then look at taking up the pass plus test to prove better driving skills. By demonstrating better driving skills it is possible for new car drivers and younger car drivers to be regarded as lesser risk categories and save on car insurance premiums. This works in not only reducing the premium amount payable, it actually also helps in day to day life in tackling different driving conditions and errant drivers. A combination of two to three prudent options will help you to considerably bring down the premium amount that needs to be paid for the policy.
Look At Voluntary Excess Only If You Are Confident
If you are fully confident about your ability to avoid an incident, and safeguard your car when it is parked, you can opt for adjusting the voluntary excess. This way you can keep the premium amount low. However, you need to do this only if you are fully confident of ensuring the safety of the vehicle on the road and off the road. Savings on premium should not be a double edged sword that comes back to haunt you with increased expenses in the event of any eventuality. When you save premiums the benefits need to remain with you always.
Opt For The Best Cover To Take Care Of Expenses
Choose the type of cover with similar care. Typically the three different types of cover that are used by car owners are third party only, third party fire and theft, comprehensive full cover. By default the safest and most reassuring of all the three policies are comprehensive full cover. By making more premium payments for the comprehensive cover you will actually be protecting yourself from any kind of problems in the future. Problems are unexpected and it is always best to be prepared for the unexpected. Therefore choose premium reduction by striking the right balance between your payments and possible incidents in the future.
Avail No Claim Bonus
This is a very prudent method of reducing the premium amount that you will pay. For instance if your car requires minor repairs, it would be a good idea to pay for the repairs from your pocket and keep the claim history clean. This way you will be eligible for a no claim bonus, which will help to bring down the premium payment to a certain extent. When you have a very healthy claim history over consecutive years, the claims bonus will also proportionately increase. This will actually be a better option than raising a claim for minor expenses. For instance, if the total amount spent on repairs is lesser than the no claim bonus then it would be a good idea to not raise a claim.
On the featured site you will see a list of insurance companies and various policies with details of premiums payable. This information will be populated on the screen after you have entered certain basic information about yourself, the car and the claims history. On the basis of the information that you have furnished you will see various policies and premium amounts. You can then choose the most suitable policy and if it is necessary to bring down the premium amount further you can avail of any of the above options to keep the premium amount low. By using the services of the featured sight, you will get accurate information about various policies.
