We Design Your Financial Destiny


(Precious) Words of Wisdom : "Only those who are asleep make no mistakes." ~ Ingvar Kamprad

10 Ways to Save Money on your Car Insurance Premium

One. Pay for minor damages yourself. Don't make small claims. This affects your no-claim bonus, which can go as high as up to 50% and save you hefty premium year after year...endlessly...until you make a claim.

TwoNo-claim bonus is for the driver...not the car. So when you sell your old car, don't forget to transfer the no-claim bonus from the old policy to the new policy.

ThreeTake advantage of the competition. Compare policy premium rates across various insurers before buying one. Also, buying covers online are not only convenient but also cheaper.

Four. Is the probability of damage/accident low (e.g. you are a safe driver or you don't drive your 2nd car too often or you are a carpool member)? Then you can opt for higher voluntary deductible i.e. the amount that you are willing to bear in case of a claim; beyond which the insurer will pay the balance claim amount.

FiveDon't blindly opt for various add-on covers. Choose them carefully after analyzing their relevance to your requirements.

SixInstall theft-protection and safety devices in your car.

SevenConsider the option of taking membership of a recognized automobile association.

EightCheck if you are eligible for a special discount (like doctors).

NineCheck if the insurer offers any loyalty discount for renewing the policy or buying all policies from the same company.

TenMake sure that you pay your premiums on time and renew the policy before the due date. Any delay could lead to losing your no-claim bonuses/discounts.

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

101 Classic Tips Money Gyaan

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Powered by Blogger.

... Three VALUABLE Tips ...

1. NEW Year. OLD Resolutions. The Timeless Money Maxims.
Timless Money Maxims
It's time to 'sharpen' the OLD resolutions, not write any NEW ones.

 


2. Housewives Too Can Become Millionaires
Millionaire housewives with compounding
Saving for MORE TIME gives much better results than saving MORE MONEY.

 


3. Why Super Top Up Health Insurance Plan Is A Must
Top Up or Super Top Up
Top Up or Super Top Up? The choice is VERY clear...