Expert offers auto insurance money saving tips
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A woman has managed to secure the cheapest car insurance policy one financial advice website has ever seen.
Motorists looking to reduce the amount they spend on their auto insurance may benefit from following the advice of one financial journalist writing for the Independent.Victoria Bischoff urged consumers to shop around before accepting a renewal quote from an existing provider as cheap bargain deals can be found by searching online.
When auto insurance firms come to assess the risk of insuring a vehicle, they will look favourably on those who have adequate security measures in place, according to Ms Bischoff.
Discounts can also be gained by paying off policies in one lump sum and increasing the excess consumers are willing to pay in the event of a car being damaged or stolen.
Experienced drivers are less likely to crash their car, so adding an additional skilled motorist to the policy will reduce prices for those who are not so confident behind the wheel.
The expert continued: "Finally, be aware that many insurance companies charge higher premiums for cars with modifications.
"This is because insurers often view modified vehicles as more likely to be involved in an accident and more costly to repair if they are," she added.
A car owner from Kent recently secured the cheapest auto insurance deal which is the cheapest financial website Moneysavingexpert.com has ever come across.
Barbara Wakerell, a civil servant, is currently paying 96 pence for an annual auto insurance policy because she refused to take her existing supplier's renewal package.
Written by Barbara Wintergreen
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