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In this recessionary world where everything is going up, one has to wonder if there really are any simple strategies that can be used to reduce the cost of car insurance. After all, we all know that insurance is a spiteful purchase, if it were possible, we would prefer to do without it!
In this article, we want to look at three very easy steps that you can implement today to get the cheapest quote for car insurance.
Your very first plan of action is to try to reduce your overall risk profile before engaging in the next two steps. Let’s take a look at some of the steps you can take to reduce your overall risk profile.
Lowering your overall risk profile is not as difficult as it sounds and there are many ways to do it. The first thing you can do is focus on improving the safety aspects of your vehicle. Vehicle security equipment such as alarms, immobilizers, antihijack units usually improve the overall security of your vehicle and make you eligible for discounts.
However, you need to install quality security equipment that has accreditation with the insurance industry. Of all the security devices available on the market, a tracking device will net you the highest discount with almost every insurance company you request a quote from.
Another important aspect that improves your risk profile is the security of your parking at night. Virtually all insurance companies will inquire about your parking arrangements, where you park overnight, in an attempt to determine the risk of theft. While parking the vehicle on the road will give you the worst risk rating resulting in paying a higher premium, parking the car in a closed garage will give you long term savings on your car insurance.
Other areas you might consider improving your risk profile relate to developing a safe driving record and making sure you are insured at all times. This effectively lowers your overall risk profile and has a positive impact on your No Claim Bonus rating.
Another important step towards getting the cheapest quotes for car insurance is to insure your vehicle for the right value. Most people mistakenly believe that the true value for which their vehicles should be insured is retail value. Yet, the naked truth is that in the event of a total loss of your vehicle, your insurer is not going to pay you for the retail value, however much your premium was based on that amount.
Therefore, the best value for which your vehicle should be insured is market value, or even better, trade value.
Lastly, you have to make a dedicated effort to collect and compare as many quotes as possible. The real secret to dirt cheap car insurance quotes lies in comparing multiple quotes. Fortunately, the advent of car insurance comparison sites has made it extremely easy to find cheap car insurance quotes. With a comparison site, you can easily compare multiple quotes for dozens of insurance companies with one click.
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