15 Ways to Find The Cheapest Online Car Insurance Quote

By James Tam on September 15th, 2006

1. Go Online: It has now become a common practice for those who want to get the cheapest car insurance quotes to go online. Since the process is automated, it costs a lot less for insurance companies to take care of your application. So be prepared to see discounts of at least 5%-10% when you obtain your car insurance quote online.
2. Shop Around: Most people overpay on their car insurance when they fail to shop around. The online car insurance quote that you receive is a result of computations and estimations based on the information and details given by you. By adding or subtracting figures after each question, your insurance premium is calculated. So, shopping around helps you obtain the cheapest online car insurance quotes and locate big savings on your premium.
3. Purchase Extra Insurance Products: Insurance companies also offer supplementary insurance products, and they usually give extra discounts if you purchase more than one product. So, buying extra insurance products from a particular insurance company can save you a decent amount on your overall premium.
4. Pay your Insurance Premium in Full: Many insurance companies will charge you as much as 15% APR on installments. So if you want to obtain the cheapest online car insurance quote, and evade these costly interest charges, pay your insurance premium in one go. It is also probable that you may also receive discounts for paying in full. However, for people who can’t afford to do that, it is recommended to look into a small loan with a reasonable rate.
5. Increase your Voluntary Excess: The “excess” refers to the amount you pay in the event of a claim. Your premium is inevitably reduced by your insurance company should you increase the excess. Â
6. Lower your Annual Mileage: Obtaining the cheapest online car insurance quote also requires you to lower your annual mileage, since most insurance companies quote you for approximately 12,000 miles a year. It might be possible to get a discount if you are sure that your annual mileage is likely to be less than that. However, you need to be honest about this because your old MOT’S and service history may be checked in order to verify your mileage in the event of an accident.
7. Install Anti-theft Devices: Another useful technique in receiving the cheapest online car insurance quote is to install anti-theft devices, such as alarm, immobilizer or tracker on your car. Since these devices reduce the chances of your car being stolen, you will get a discount from most insurance companies.
8. Take the Advanced Driving Test: Having extra skill when driving reassures the insurance company that you are less likely to be involved in an accident, so passing an advanced driving test can be of great help for a little discount on your online quote.
9. Be Honest about the Value of your Car: Obtaining the cheapest online car insurance quote doesn’t mean that you inflate the value of your car, which will only increase your premium. This is because only the current market value is taken into consideration in the event of your car being stolen or written off.
10. Check your Credit Rating: You also need to maintain a healthy credit rating in order to avoid additions to your premium, since most insurance companies check your current credit score as part of the calculation for your insurance premium.
11. Insure your car Third Party Only: “Third party only” is the cheapest, and the minimum cover you are required to have by law. Owners of ‘low value’ vehicles should consider this type of cover to get the cheapest online quote, but should also remember that in the event of an accident, any damage to the car will not be covered for repair.
12. Keep a clean license: Being a safe and careful driver always have some bearing on the way insurance companies compute your premium. That’s why you need to maintain a taintless license to receive the cheapest online car insurance quote.
13. Remove Unnecessary Drivers: If there are any drivers on your insurance policy who no longer use the vehicle, removing them will reduce your premium.
14. Add older named Drivers: Some insurance companies will reduce young driver’s premiums if they have an older named driver on the insurance.
15. Build up your no-claims discount: The number of years to your “no-claims” is one of the main aspects affecting your car insurance premium. For instance, you could receive up to 75% discount for around 5 years of no claims, because the insurance company will regard you as a safe driver if you have more years of claim-free.

Share This