5 ways to cut back on your motor insurance premium

Never try to modify your vehicle. Additional fittings like massive tyres, spoilers, large exhausts, etc. can increase your premium rates. Moreover, this can lead to denial of claims. 1

Avoid making any unnecessary claim for minor scratches or dents. When you make a claim you happen to lose your No Claim Bonus, which is a kind of reward you get from the insurer for not making any claims in your policy period. And this bonus comes to you as a discount on your premium at the time of renewal of your policy. 2

Where you park your car is also important. There is a lot of risk involved in parking on roadside. Not only is this dangerous but also costly in terms of premium. 3

If possible, include another driver in your motor insurance policy who has an excellent track record as a driver. With this action, you are in a way trying to convince the insurance company that your vehicle is in safe hands. This is not necessary if you yourself have a good track record as a driver 4 4

If you are too much concerned about motor insurance rates and feel like it is useless and mere waste-of-money, then use a car with low insurance premium* or that is affordable for you. So give some thought before deciding on your your mode of transport. *Insurance companies decide the premium of cars based on their accident rates and other factors like theft, etc. 5

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