5 Security Factors That Can Lower Your Car Insurance

by Guest on September 19, 2011 · 7 comments

in Cars

Everyone knows that car insurance is something they need to have, but in a security conscious age when we’re also watching what we spend, what can we do to help reduce car insurance costs? This article looks at five security factors that can not only improve the security of your car but also help to lower your car insurance costs.

1. Where you park it
Where your car is parked is something that insurers take into account when calculating how much you pay for your car insurance. As you might expect, parking it in as secure a place as possible will definitely be beneficial for your auto insurance quotes. For instance, many people park their cars on the road on a regular basis. In some places, this can’t be avoided and so there is little you can do about it, but many people have the option of parking their car on a drive or in a garage. This will make your car much more secure as it is less likely to get clipped by other, passing cars on the road.

2. Car alarm
Having a good alarm for your car that alerts you if anyone tries to tamper with the vehicle is another good option for people looking to improve their car’s security and reduce the amount they pay on insurance. Some cars come with alarms already installed, but if yours doesn’t then you can usually get one fitted fairly easily at your local garage.

3. Steering lock
Another good way to make your car more secure and harder to steal is to get a decent steering lock. These are relatively inexpensive to buy and make it much harder for anyone else to take your car, so they are definitely worth investing in. They’re useful whether your car is parked on your drive or in a public car park as they help to secure your car wherever you are. It’s certainly worth telling your insurance company if you have one as it might make it more likely that you’ll be able to get a good, cheap car insurance quote.

4. Wheel locks
This is a security addition that is very useful if you have alloy wheels: a good set of wheel locks. Alloy wheels are more likely to be the target of thieves than ordinary wheels and having them on your car can also add to your car insurance costs as they count as a modification. You can help to combat this, however, by using wheel locks that make it much harder for the alloy wheels to be removed.

5. Immobilizer
Finally, if your car has an immobiliser (a special, extra key that the car won’t work without), this is something else that you should tell your insurance company as this might also help to bring down your car insurance costs.

Overall, security is not the only factor that dictates how much you pay for your motor insurance, but it’s definitely an important component of it. Having a car that’s safe and secure is naturally beneficial and gives you peace of mind; the fact it can help to reduce the amount you pay for your insurance is really just the icing on the cake.

*Note: This article was submitted by a virginmoney.com representative.

The $60K Project September 19, 2011 at 11:51 AM

I know that credit rating and amount of miles driven each year also contributes to your insurance rate. Since I work at home, the amount of estimated miles I drive each year significantly impacts my rate.
The $60K Project recently posted..Tying Up Some Link Love & Loose Ends

Freddie @ Invest With Passion September 19, 2011 at 5:18 PM

Good advice. Never really thought about it from this angle, but that is so true.
Freddie @ Invest With Passion recently posted..Man Calls 911 Taco Bell

20's Finances September 20, 2011 at 8:21 AM

My car has many of these features. A nice alarm, a coded key, and now we have started using a steering wheel lock to added security. I don’t think I get a discount for the steering wheel lock, but it saves me from having to pay a deductible because it deters break ins.
20’s Finances recently posted..Is it Hard to Time the Market in a Recession?

Robert @ My Multiple Incomes September 21, 2011 at 7:10 PM

Great calls! Sometimes your insurance company won’t ask if you garage your car. If you do, tell them and save!
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Jackie September 22, 2011 at 7:25 AM

Having your windows etched with the VIN number can sometimes also help you get a discount. Police departments will sometimes do that for free.
Jackie recently posted..From $14K in Debt to $0 in One Year

Ultimate Smart Money September 22, 2011 at 9:12 PM

I have most of these features and I don’t think I am getting any discount in premium. I don’t even recall insurance company asking me any of these features. Maybe I should give them a call to find out if I can possibly get extra discounts. Thanks for the tip.
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Jerry September 25, 2011 at 4:37 PM

In NH, car insurance is not required because it is the “Live Free or Die” state. I did have it while I lived there but I wasn’t always comfortable knowing that there were other motorists who may not be covered. It can lead to a pretty hairy situation if you hit someone and you don’t have coverage but I was lucky while I was there and it didn’t happen.

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