​For many of us, our expenses tend to exceed our earnings. The credit for this, to some extent, also goes to inflated cost of living. In presence of high inflation, anyone would like to work on strategies to save money on as many things as possible.

So, take a look at three ways of reducing your premium amount during car insurance renewal online and add on your yearly savings.

1) Opt for online quotes of car insurance: At the time of online motor insurance renewal, look for online premium quotes offered by different car insurance companies. You can generate online car insurance renewal quotes free of cost. Almost all car insurance companies offer the facility of vehicle insurance renewal facility on their websites. You can either use the car insurance renewal premium calculator, available on the websites of these companies, or on other assisting websites. Getting different quotes of car insurance from various websites and car insurance providers will give you a good car insurance renewal comparison, and thus helps you in making the best choice. Therefore, make it a rule to compare car insurance quotes online, before making your final choice.

2) Increase your deductible amount: Increasing the amount of deductible towards motor insurance policy is probably as one of the common practices observed during car insurance renewal online. However, doing so would mean exposing yourself to more risk in event of a claim. Therefore, ensure that you increase your deductible, only to that amount which you can afford easily.

3) Grab discounts when available: Almost all motor insurance companies offer certain discounts at the time of car insurance renewal. Ensure, if you are eligible for the discounts, grab it and enjoy your next one year’s car insurance premium at reduced rate.