You canít live with them and you canít live without them. Cars fall into that particular category. Without a doubt they are an essential part of family life, how else would you manage to ferry the kids to school or pick them up from their friendsí house? But, it costs money, every single aspect of owning a car costs money; petrol, maintenance and the insurance.
So how do we go about reducing our costs? Unfortunately, every car needs fuel to run so that is a necessity, the same goes with the general up keep and care of the car, however, what and where you go for your car insurance is one area where you can cut costs and save money.
So when it is time to sit down and review your car insurance policy
, take a moment to remember this guide, and put it into action.
GIO is a leading car and travel insurance broker in Australia. This post aims to make you aware of the ways you can cut costs in 2012 and save money on your car insurance.
Help Me, Help You Ė Get to Know your CarHaving a good knowledge of your carís specifications and safety features can help you qualify for a discount when getting a car insurance quote. Any safety features that helps reduce the risk of injuries or theft will help reduce the cost of your motor insurance so do some research before you call your provider or take matters into your own hands and fit an alarm.
Wherever I Lay my Hat thatís my Home - Where you Live MattersA few miles of dirt can be the difference between saving $500 and not. If you live in a location which happens to have a high rate of crime including car theft and vandalism then you will generally pay more for your insurance. A lot of people live on the borders of towns or cities so be sure that you make your insurance provider aware of which side of the suburb you park your car.
What you Drive MattersAnnual reports show that there are certain brands and models of cars that are more likely to be stolen or be given speeding tickets. Keeping aware of this list could help you save money when the time comes to exchange or upgrade your car. In the US in 2011, the 1995 Honda Civic and 1995 Accord were both within the top 5 of cars which were likely to be stolen or vandalized. Others were the 2009 Toyota Corolla and 2004 Dodge Ram Pickup.
I Love you but NO - Restrict your DriversYou can love your kids with all your heart but you might not want to have them on your insurance plan. You can choose to restrict drivers of a certain age, most often the under 25 age bracket, which will help you get a cheaper premium.
Spring Clean - Know your Credit ScoreA recent study conducted in 2011 found that people with credit scores above 750 can save around $783 annually on car insurance. Unfortunately, those with a score lower than 750 are considered a high risk and are treated accordingly, with a higher premium. So, in order for you to save money in your home, research who has the better credit score between yourself and your partner and then apply for your insurance under that name.