9. Online Purchase:

If you buy or renew your car insurance policy online, your premium can be easily reduced by this move.  Some insurers offer a higher discount for online purchase. The insurance company saves a significant amount on processing and distribution costs when the transaction is carried out online.

More: 5 Factors That Will Influence Gold Price In 2013

10. Gender and Profession of the Driver:

If you are a girl, you have an advantage here. Insurance companies follow a sexist statistic that male are more prone to accidents than female, and charge young males higher premiums. Since the insurers also consider female to be a cautious and safe drivers, they offer higher discounts to female policy holders.

Even your profession is one of the parameters that are taken into consideration for deciding the premium amount that you needed to pay. If you are a bank employee, it is obvious that you would make less usage of your vehicle comparatively to a sales person, who needs to commute several times in a day around the city. People, who make less use of car, also pay lower premiums.

Since these parameters are constantly changing, so as a car owner, you must get in touch with your insurance company to learn about the latest benefits available. However, the rewards for being a good driver are not only availing discount on premiums but also a safety to your life and property.

Also Read: How Multi Billionaires Spend Their Money