The Subaru Impreza is an excellent family car with a rock-solid reputation for safety. But, we all need car insurance; it’s a legal requirement for driving on our roads, and in many cases, it can save us a great deal of money if the worst happens. However, if you asked amongst your family, friends, and work colleagues, it’s unlikely that any of them would describe car insurance as being cheap. It is true that insurance premiums have risen in recent years, but it is still possible to save money if you follow one or more of these seven simple tips.
Having a Younger Driver on Your Car Insurance will Increase the Premiums
This is a sad fact of driving; if you have a driver under the age of 25 on your car insurance policy, it will cost significantly more. In fact, many car insurers will actually offer a hefty discount if the policyholder will guarantee that no driver under the age of 25 will be driving the car. The insurance premiums for younger drivers have actually dropped slightly in the past few years. We all like to help our children out and save them money, but it’s worth investigating a separate policy for them instead. If the younger driver cannot get affordable insurance and they need to be on your policy, get them to pay the difference, and at least this way, both parties can get some benefit from the arrangement.
2. Car Modifications Drive up Insurance Premiums
Most car insurers like cars that are standard, these are easier to classify, and they take a dim view of any car modifications. Sadly, this is at odds with what many drivers want, they like to tweak their engines for extra speed, and they want to lower the suspension. If the driver makes any modifications to their car, the insurer may withdraw cover, and they may even refuse to pay out if the car is involved in an accident, and they were not informed of any changes to the vehicle.
If you inform the car insurer, they may accept the modifications, but you can expect the insurance premium to rise significantly. According to the Australian and New Zealand Institute of Insurance & Finance, most general car insurers will cover certain car modifications, including bike racks, bull bars, chrome exhausts, alarm systems, driving lights, stereo systems, and alloy wheels. There are car modifications that these same general car insurer will not cover, these include: roll bars, roll cages, racing harnesses, custom paint, turbo or supercharged engines, and nitro or hydrogen boosted engines.
Generally speaking, if you avoid making car modifications, your driving life may be a little duller, but you will save money on your car insurance premiums each year.
3. Less Engine Cylinders Equals Lower Premiums
As a rule of thumb, the more cylinders an engine has, the more it will cost to insure. After all, a car insurer wants to manage risk to their advantage, cars with more cylinders are more powerful, and this raises their risk. There isn’t much that you can do about this if you’re already driving a car with more cylinders. But, when it comes time for a change, drivers interested in lower insurance premiums would be wise to choose a car with fewer cylinders.
4. Shopping Around Works
Many drivers get a car insurance quote online and go with the first company that responds. This is a bad idea; it really is worth shopping around for the best and cheapest car insurance that you can arrange. Major savings can be made without compromising on good quality car insurance cover. At the very least, get some quotes from a few insurers before you make a final commitment to purchase any insurance product. Don’t be shy if you got a lower quote, tell the other insurance providers, and see what they can do for you. Before you make your final choice take a look at the features that each policy offers in detail. A car insurance policy may cost more, but it could be worth it if it offers something that you really need.
5. Where You Live Really Matters
Generally speaking, urban locations have higher car insurance premiums compared to suburban or rural areas. A regional area is more likely to have a like for like car insurance because the traffic density will be lower, and the risk of a car accident is reduced. Again, this isn’t very useful if you own a place in the city, but if you rent or you want to buy a home, it could be helpful. Moving to the suburbs or a rural area may offset the extra wear and tear and higher fuel costs of a daily commute in certain cases.
6. Purchasing Car Insurance Online is Cheaper
Many car insurers are now offering significant discounts for shoppers that purchase insurance online. An insurer could offer a cash rebate, or it could be a percentage discount on the overall price. Obtaining online insurance quotes is simple, and it reduces the overheads of the insurance company, allowing them to offer a discount. However, it’s important to realise that you still need to do your due diligence. A car insurance quote may look great, but it’s still essential to get multiple quotes to get the very best offer.
7. Garaging a Car Lowers Insurance Premiums
Many car insurers will offer a significant discount if the car will be garaged when it’s not being used. This is because it’s harder to steal the car, and it’s less likely that it will be hit by another vehicle when parked. So, if you have a garage and you’re not parking your car there, it may be time to clear it out and make room for your Subaru Impreza. If you’re considering moving home, perhaps a garage is more of a priority than you imagined.
We hope this helps you reduce your car insurance premium. If you’re interested in the latest Subaru Impreza car models, contact Subaru Maddington and we would be delighted to help with free demo drives.