With the rising costs of fuel, groceries and just about every other good or service we purchase, many of us are looking to save on our car insurance. When it comes to saving on car insurance most of us don’t know how to get a low cost car insurance policy.  There are many factors that influence your car insurance costs and knowing how to change these to fit what you are looking for can be very rewarding. See What are factors that affect the price of car insurance (premium)?

The excess is the amount you must pay first out of any claim for an accident. By increasing your excess you may be able to significantly reduce your premium.  A lot of people, especially those with a good driving record, who have had their insurance policy for a long time, have never considered varying their excess. If you have a clean driving record and are prepared for the risk of paying a larger amount in the event of a claim you can save money by increasing your deductible.

Minimum driver age restrictions can reduce your premiums as insurance companies often perceive younger drivers more risky.  If you are over 25 and don’t need to insure your car for younger drivers then you should look into this feature as it may save you money.

Restricting your number of nominated drivers can reduce your car insurance premium.  If you have 3 or more nominated drivers insurers will often charge you more for your premium.  You can also save by ensuring the nominated drivers have good driving records and are over 25 years old.

Having a good NCB can save you over half of your premium.  By reducing the number of claims you make you can slash your car insurance.  If you get to rating 1 you may be entitled to over 50% discount on your premium.   If you are under 25 you may be able to reduce your premium by completing a safe driver course.

Having a Safety device fitted to your car such as an immobiliser, alarm or tracking device can reduce your insurance as it cuts the risk of your car being stolen, especially if it is parked in the street.

Don’t pay for things you don’t need!  One reason why insurance companies differ in price is because they offer different services and benefits in their policies – that is why you should always read the Product Disclosure Statement.  If you don’t need windscreen cover then don’t pay for it, if you don’t need hire car after an even then don’t pay for it.  See Common extras available for a list of extras that can be included in your insurance policy.

Many companies offer a discount to existing customers. For example, if you have a home and contents insurance policy, bank account or even a mortgage with a particular company you may be able to get a discount for switching your car insurance to them.

Whatever your motivation, QuoteMyWheels can assist you save money and get the car insurance that’s best fits you.