Owning your first set of wheels means freedom… but it also means more responsibility that you don’t necessarily think about up front. Suddenly, you have to deal with added expenses like maintenance and insurance.
Younger drivers pay more for car insurance, because their inexperience poses a higher risk. In fact, drivers under 25 pay on average about 30% more for their car insurance.
If you’re looking for a cheaper car insurance alternative, don’t compromise on the quality of your cover – these handy hints from Old Mutual iWYZE will help you save on your car insurance quote.
- Improve your driving skills
There are numerous advanced or defensive driving courses available. Completing such a course will not only teach you valuable driving skills, but will provide you with leverage to negotiate a better premium with your insurer.
- Think smaller
The lower the engine power of your car, the safer it is deemed by insurance companies. High-powered vehicles are often considered more dangerous. Cut the kilowatts to cut the insurance costs.
- Build up a good record
There’s no substitute for experience – your driving and claims history are two of the biggest factors when insurance companies calculate your premium. It’s tempting to be a little more reckless when you’re young… but safe driving will build your reputation and track record which will lead to lower car insurance premiums over a relatively short period of time.
- Consider your options
Many insurers nowadays offer a ‘pay as you drive’ option, which means the less you drive, the lower your premium, based on the idea that the less time you spent on the road, the less chance you have of being involved in an accident.
- Go for a higher excess
Agreeing to a higher excess could drastically reduce your monthly premium. Think carefully though, you need to be sure that you can afford a big lump sum excess payment should something go wrong.
- Improve security
Security is a big deal to insurers. Make sure you add any possible security features, such as a tracking device, to your car. Your premium will also reduce if you park your car in a locked garage overnight instead of a carport on the street. The more security measures you have in place, the bigger the impact on your premium.
- Avoid aftermarket additions
‘Pimping’ your ride won’t do your insurance premium any favours. Aftermarket items such as boot spoilers or larger rims can impact the performance of your car, while big sound systems increases the likelihood of thieves taking an interest. Adding aftermarket elements could increase your insurance premium.
_________________________
Need affordable, reliable car insurance at any age? Make the wise insurance choice and contact Old Mutual iWYZE for great benefits, affordable premiums and loads of value-added extras. GET A QUOTE and see how much we can save you.
Underwritten by Old Mutual Insure Ltd (FSP12), an authorised FSP. Risk profile dependent. Terms and conditions apply.
Additional sources:
https://businesstech.co.za/news/motoring/179817/how-to-reduce-your-car-insurance-premiums/
https://www.news24.com/Archives/City-Press/How-To-Cut-premiums-for-young-drivers-20150429
