The very thought of lowering your car insurance quote seems impossible, but nothing can be farther from the truth. It is in fact quite easy due to the different financial situations many South Africans find themselves in. Typically the cost of car insurance quotes may be affected by the following factors.
When you insure a new car your insurance quote will be reduced by the presence of built in safety device. Statistics show that new cars that have built in safety devices are less likely to be stolen therefore reducing the insured risk.
- Have a clean credit record. Some insurance companies may take a look at your credit record. If your credit record reflects poorly your cost will increase or in some cases refusal to insure.
- If you are above the age of 25 and have had your driver’s license for at least 5 years, insurance companies may view you as less impulsive and more responsible. Therefore you fall into a lower risk category than the person that is 18 and just got his driver’s license.
- If you are married the insurance company may again view you as a lower risk. Statistics shows that if a person is married they behave more responsible and are less likely to take risks.
- The area you live in plays a big role in your car insurance quote. Believe it or not insurance companies no which are the so called high risk areas. These are the areas that are mostly targeted by criminals. If you reside in a quite secure neighbourhood or residential complex your risk is lower and your insurance quote may automatically be reduced.
- Pay as you drive option. By reducing your mileage you will reduce your car insurance quote. By spending less time on the road you become less of a risk for the insurance company.
- Adding a second or even third car that resides on the same property to your insurance may also reduce your insurance quote per vehicle.
- When you have a security systems such as steering wheel locks, gear locks, alarm systems and an anti-hijacking system installed will reduce your risk factors and your insurance quote.
- Where you park your car especially at night time is important. The street and your driveway is absolutely taboo and will put you in a high risk category. This will definitely increase your quote drastically. However if you park your car in a secure yard or even better in a locked garage your car insurance quote will be reduced.
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