Before you plonk down your hard earned money on that dream car, you need to know that one of the biggest expenses that you will incur on your car is your car insurance and it takes only a few minutes to cut down your car insurance by as much as 15%. Here is how what I did when I bought a new Prado last year.
I was standing at the car showroom, when the insurance agent that was working with me on the new car happily handed me a quote. I took a long look at the car insurance documents, and I simply asked: ‘What about the No-Claims Discount?’ There was a long pause and finally the insurance agent said: “Yes, you have a clean record, so you will get a 15% discount on your premium. Let me revise the quote and give you a fresh one.”
In a few seconds, I had saved 15% on my auto insurance and you can do the same. So my first tip for you is to ask your auto insurance company about the No-Claims Discount and if your company does not offer that then you need to look for companies that offer discounts for each year you are insured without a claim. In some cases, having a clean driving record for 5 years can result in discounts of up to 75% on certain coverage sections.
Tip Number 2: Purchase Auto Insurance Online
Many insurance companies offer online discounts because the process costs them less in terms of overhead. Haylot Guard can save you time and money by comparing several insurance companies and offering you competitive quotes within two hours.
Tip Number 3: Shop Around
A lot of car insurance providers differ in the methods they use to calculate your quote, so shopping around will ensure you are able to maximize your savings. Choose the company that offers the best coverage at the best price.
Tip Number 4: Avoid Installment Plans
Full payment allows you to avoid paying the interest charges that would otherwise accumulate on your premium. At times, a full payment even attracts discounts. Obtaining a small loan from your bank, instead of letting the insurance agency finance your premium, may even help you save money.
Tip Number 5: Condense Your Business
You will find that most Dubai car insurance companies offer additional discounts for purchasing more than one product. Buying your homeowners, health, or travel insurance from your car insurance carrier may help you save money.
Tip Number 6: Look for a Diminished Annual Mileage (My favorite)
Driving a low annual mileage can keep your premium low Most Dubai car insurance companies quote based on 12000 miles annually. If your annual mileage is lower than this, your insurance quote may attract a discount. Don’t lie, though. Your mileage will be verified as most insurance companies in Dubai investigate past service histories.
Tip Number 7: Increase Your Deductibles
Your deductible is the amount you pay before the insurance company if there is an accident. A higher deductible means lower premium, but higher out of pocket costs if you have an incident. If you need to save money upfront, it’s a good option to consider.
Tip Number 8: Take an Advanced Driving Test (Bonus Tip)
A formal driving certification demonstrates to the car insurance company that you are a skilled, safe driver, who is less likely to make an accident claim. Taking an advanced driving test may also earn you additional discounts.
Tip Number 9: Maintain a Good Driving Record (Bonus Tip)
Your driving record is important to automobile insurance companies. You need to convince your provider that you are a safe and reliable driver. Avoid traffic convictions and accidents at all costs. This tip will not save your auto insurance costs but also prolong your life -)
