Minimise car insurance costs by improving security

Mozo

Friday 07 October 2011

Aussies hoping to reduce their car insurance premiums may want to consider installing security devices and parking their automobile in a safer place each night.

Security measures 'may reduce car insurance'

Quotes may be higher for those who leave their car on the road, whereas those who keep their machine in a garage could find they can pay less for cover.

However, the location in which vehicles are parked may not be something that Aussies can change, but those in this situation can still cut the cost of car insurance by fitting an immobiliser and steering wheel lock.

Those who must park their car on the road should not try to reduce their outgoings by informing their insurance firm that the automobile is in a garage though, because this could invalidate a policy and leave Aussies paying for repairs or a new car out of their own pocket in the event of an accident or theft.

In 2010, Australia's new vehicle market enjoyed its second-highest annual sales figures on record, with the number of cars bought rising by more than ten per cent year-on-year.

Have a question about car insurance? Ask the money gurus at Mozo Answers. ADNFCR-1761-ID-800751997-ADNFCR

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