Motor Insurance Tips: How to Reduce Your Costs

There are many things that you can do to reduce the cost of your motor insurance. The list below is far from comprehensive, but if you remember the overall notion of reducing risk for the insurance company means a lower rate, then you will be able to add to the following tips.

 

Tip: Buy new

New cars that are delivered straight from the factory are considered less risky than used cars. If you can afford to do so, buy new. Even if you cannot buy a car new, newer used car models will mean less of an auto insurance payment.

 

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Tip: Drive less

Every insurance company will ask you how much you plan to drive your vehicle before setting a rate. Cut down on the overall mileage of your automobile to save on the insurance premium.

 

Tip: Do not purchase a sports car

Sports cars are considered more risky than other types of transportation. SUVs and non commercial trucks are considered the safest vehicles, while motorcycles are definitely on the high end of the premium spectrum. Basically, the larger and more sturdy your vehicle is, the less of an insurance payment you can expect.

 

Tip: Do not upgrade your vehicle using third party aftermarket parts

There are ways to upgrade your vehicle without voiding the warranty. You must remember that your insurance payment and your warranty are separate, however. If you make your vehicle more powerful using aftermarket parts from third party companies, the insurance company will consider this risky behavior and charge you for it.

On the flipside, you may actually be able to reduce your motor insurance payment if you spend money on third party aftermarket safety features. New airbags or an anti-theft system are just a few of the options that you can report to your insurance company in order to receive a lower premium payment. As long as your upgrades reduce risk instead of increasing risk, you will help yourself.

 


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