subject: Car Insurance Tips and Secrets [print this page] Car Insurance Tips and Secrets
Sometimes saving a little bit of money in the beginning might not really help you. They say that you can reduce your deductibles when opting for cheaper insurance, but the truth is you are just leaving yourself to be more exposed.
If for example you purchase a new car and you install a $10,000 stereo system in the car and you do not tell the insurance company to insure the extra addition you have made to your vehicle they will charge you less. The down side it they won't want to hear anything about the extra they should pay you if the car is stolen.
Unfortunately the best way to save on your insurance policy is time. The longer you drive without any accidents and without making any claim of any sorts your premium will decrease. If you are a male over the age of 25 There is one exception to this rule however and that is once you are over 60 the insurance may again increase, simply due to the statistics which state that senior citizens are involved in many recorded road accidents.
It may not be the best thing a person may want to hear meaning they have to drive safely for long periods of time before any real savings can be seen on their yearly premiums.
There are a few other scenarios which may appear to be better options and they are to ensure you always shop around for the best deal. Once you have secured the best deal each year it may be a good idea to have a look around at the prices competitors are charging. If you see a cheaper price ask your current insurer to match this price and if you have a long standing history with them there is a good chance they will honour the discount.
You can also ask your car insurance company if they will sell you a policy for a longer period of time. Purchasing a policy for more than the standard 6 or 12 months means less paper work for them and if you already have a great driving record it could mean more savings for you also.
We asked many Australian's what made them choose one insurer over the other most people said they did not think there was a real difference between one company compared to another the only thing they were annoyed about was the fact that it was such a hassle to shop around they preferred to just stick with the same company they had been dealing with for years because it seemed to be very easy to do, just pay the premium each year not really giving it much thought.
What most Australia's don't know is that with comparison websites these days it makes the process pretty simple. If you find a better rate from a competitor they will make it very easy for you to switch to them as it is in their best interest to do so.
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