We are living in a world where expenses are higher than savings and it has become really tough to save few bucks out of the monthly expense. When we talk about car insurance, it is the biggest expense for every Kenyan family.
Car insurance can diminish your savings if not chosen wisely. Fortunately, you can dramatically reduce your car insurance kenya costs by making a few key changes in as little as five or less minutes while choosing your insurance plan.
So, in this post, we will share some quick tips to save on car insurance in just five minutes. Surprised to listen to this? Well yes, you can save thousands of shillings on car insurance using these easy tips. We have outlined five smart ways to keep in mind while buying or renewing your car insurance policy in order to cut your costs significantly.
1. Ask about discounts
Talk to your agents if you are eligible for some specific discounts. Any customer gets discounts based on factors used to calculate car insurance premiums in Kenya which include age, marital status, number of children, credit history etc.
You may also get special discounts based on following criteria:
- Safe Car: If your car is equipped with advanced security features, then you may have to pay less competitively for an ordinary car.
- Low Mileage Discounts: When a car is driven for a certain number of miles on the road, it is considered to be less involved in accidents. So lesser you drive, lower will be the chances to claim and thus lower will be the premiums you will have to pay.
- Affiliation Discounts: In case, your company provides collaborative insurance to all of its members through a partnering insurance company, they offer special discounts for the employees.
- Good Driving Records: If you are an experience of many years in driving without any claim or car damage, the insurance company will surely offer low insurance rate for you.
One must be aware of all types of discounts whether specific or special, that can be availed by the insured.
2. Always pay for premium in full:
When an insurance customer pays his premium in bulk, there are fewer chances for the insured to pay an extra amount as taxes in installments. If a person pays the entire amount at one time, then most of the insurance companies offer discounts up to 10% for paying upfront.
3. Buy Many From One:
This is one of the best ways to avail huge savings on your car insurance premiums. It means if you buy more than one policy from the same insurer then insurers reward you with huge savings on premiums. You can even save up to 25% on your car insurance premiums.
4. Shop around for more options:
This might seem like a tedious job to shop around for another insurance companies but if your premiums are too high then it can surely help you look for better options. You can also compare car insurance quotes online from different insurance companies in Kenya.
Typically car insurance rates keep on fluctuating, thus, there is a pretty good chance to get big deals. Also, you can cancel your insurance any time and change your insurance provider. Make sure to ask your insurer if there are an early policy cancellation charges for changing provider.
5. Raise Your Deductible:
Opting for higher deductibles is completely in your hand and the good thing is that it can lower your premiums.
Yeah.. you heard it right!! But you will need to spend some more money out of your pocket for minor repairs or car damages in the event of a car accident.
Now how can you raise your deductible amount? Well, today almost every insurance company is running the business online.
Therefore, you just have to visit your insurer’s website and simply log into your account and there you can raise a deductible on your car insurance policy.
Car Insurance premiums vary from thousands of shillings to hundreds based on a number of factors. Therefore, it’s important to ask your insurer what’ factors impact insurance rates for you.
Another important thing is to read your policy carefully in order to understand what is covered in your policy and what benefits you can receive within policy plan. All credits to Allianz, Kenya.