Motor insurance is probably the most widely used insurance policy in the world and with good reason. You never know what could happen to your car and the slightest mistake could be deadly, which explains why laws in most states require you to have some form of motor insurance. The trick is trying to get cheap motor insurance, and you can, but you need to know what to look for and how to haggle with the insurance companies.
Basis for Premiums
What do insurance companies look at when deciding on the costs that you need to pay monthly in premiums? Everyone knows that insurance companies have reams of statistics that they use in setting an amount for your premiums, but you needn't be a mathematician to figure out how to save some money. First you need to look at the things you do not control such as age, sex and location. Premiums are higher between the ages of 16-25, after which premiums will normally drop off significantly.
Also, you can forget the marketing hype you've heard about women getting better premiums as this usually only applies during youth. After the age of 25 the premiums are basically the same for all genders. Your location is another thing that you have no or limited control over. The longer you have been in an area, the less likely you will be involved in an accident due to your familiarity with your surroundings. Also, the crime rate and accident rate have a large influence on the premiums.
Car Control
A major dent can be made in your wallet if you buy the complete comprehensive car insurance for more than one person. Having to pay because someone may at sometime, use your car and might possibly have an accident can be a bit much. It is better to not let anyone else use your car except in extreme emergencies. Also, the historical reliability of your vehicle is an important aspect that insurances companies look at. If you really want cheap motor insurance premiums, make sure you buy a car that has a proven track record of reliability. Check with your insurance company for cars they recommend. You can't go wrong with their knowledge.
Mileage
A note to consider is that mileage plays an important role in the cost of insurance premiums. Consequently if you travel long distances there is a greater risk that an accident might take place or the car will be damaged. Many people like to mark the mileage on their policies higher than what is necessary because they feel that it is better to have a bit of leniency. Rather be realistic with your mileage so as to avoid paying excessively.
A Priceless Resource
The Internet is a priceless resource. It used to be an immense chore to find the best and cheapest motor insurance quotes but the internet has exploded with a number of reliable and excellent websites that use your details to compile a list of the absolute best cheap motor insurance companies. Don´t forget that you can buy insurance online and print out your policy, terms and card from your own computer thereby saving a lot of time in the process.
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