If you are looking to reduce costs on your insurance plans and want to buy a plan that spans for 12-months, then you can opt for cheap car insurance no deposit policy as it will save you from paying the full amount of money on your first installment as a deposit.
You can opt for this policy and save from paying the initial deposit when you buy the policy but there is a myth that this insurance policy is a free insurance policy. Well, it’s a cheap policy but not a free policy. What is no deposit car insurance then?
What is auto insurance no deposit policy?
This policy is not a product that is offered by insurance companies specifically. When you go to buy insurance, you have the opportunity to split your premium evenly and pay your premium in the 12-month plan. For some drivers, the first installment of the premium will be more expensive than consequent payment; this first payment is called deposit or down-payment.
Now, you know what no deposit car insurance is and it is time to know how to get this cheap car insurance for your car.
How to get car insurance with no deposit?
There is no specific way you can get no deposit car insurance as some companies may ask you to pay a smaller or larger down payment based on your driving history. Make sure you don’t pay more for extra fees and charges in exchange for a good rate.
Buying no deposit car insurance is no rocket science as this policy has certain criteria you must meet and you can avail the policy. To get the best rates, you will need to have:
Maintain Clean Driving Record
You will be either sorted out in low-risk driver or high-risk driver as per your driving record. The low-risk driver gets more affordable insurance and attractive premium rates as compared to high-risk drivers. The lesser the chances of accidents the lesser the amount you have to pay a deposit.
With a safe driver tag on you, the chance of you claiming your insurance will be low and that will save the company’s money. This encourages insurance companies to give cheap rates to safe drivers. So, if you maintain a good and clean driving record, you will fetch good insurance rates.
Good Credit History
If you pay your installments on time, then the company will establish trust in you and will think about giving you affordable rates to show appreciation for your regularity in paying the premiums and never missing the installment date. To maintain a good credit history, choose for the auto-payment option as it will make the payment to the insurance company from your bank account at a pre-decided time.
Avail Various Discounts
There are many discounts available at your disposal if you want to bring down rates of your insurance policy. Good driver discounts, discount for going paperless, bundle policy discounts, safety features discounts are such insurance. Ask your insurer if you are eligible for this insurance or not. If you park your car in a safe garage then there is a discount you can take benefit of.
Alias Insurance will help you with trustworthy advice and help you fetch good and affordable rates for your car insurance. The panel of experts are there to guide you through your policy deciding phase and will help you to save money on your insurance plan.