Insurance companies have always had a knack for getting the better end of the deal after policy holders sign their contracts. From non-claimable benefits to accidents that can’t seem to get a cover, insurers work tirelessly to keep your premiums high.

It’s only fair that you know how to get back at these corporate con-men without actually breaking the law.

Below is a list of tricks you can use to keep your premiums down.

Use a Cheaper Car

If you already own a vehicle then it would be wise to trade it in for a cheaper model. Premiums are based on the value of the car. A cheaper car will therefore cost less to insure than a more expensive model. Take, for instance, a Toyota and a BMW: If both the vehicles are saloon cars, the BMW will cost more to insure based on its higher market price.

Don’t Make Claims

Don’t make any claims unless you absolutely have to. As long as you do not breach the contract, you should stay away from making frivolous claims against your insurance provider. Most companies offer a no claims benefit. Both Gateway and UAP reward their customers with no-claims discounts as long as they don’t make claims for a stipulated amount of time. All you have to do is drive safely and hope for the best.

Secure Your Vehicle

The safer the vehicle, the less excess you pay. According to UAP’s Motor Private Cover, policy holders with tracking devices only pay 2.5% of the claim if their car is stolen.  Policy holders with anti-theft devices only pay 10% of the cliam. Those without tracking or other anti-theft devices pay 25%.

Get a Better Driving License

If you get a Pass Plus license, you can negotiate with your insurer for lower premiums. This is done on the basis that you will be a better than average driver. You can take an international drivers’ test with AAR for a more renowned license. You can then convince your insurer to lower your premiums because your accident risk factor will also be considered lower than usual.

Get another Car

As long as you’re getting value for your money, you might as well make the most of it. For multiple car owners and businessmen, UAP Insurance has an additional Fleet cover fee of KES 6500. If you have 3 cars, you will pay the same amount as someone with up to 10 vehicles. The Fleet fee remains the same so why not exploit it whenever you can?

Increase Your Excess

Excess refers to the amount of money the insured party pays when they are at fault. The policy holder pays a pre-conditioned fraction for the damage he has caused while the insurance company covers the rest.

Most insurance companies with flexible policies lower their premium charges if you choose to raise your excess. For instance, Barclays Kenya has a policy where the holder pays 10% of the cost on all claims. If an insured party opts for a higher excess percentage, their premiums will be lowered. APA Insurance, on the other hand, has no excess. This means there is nothing to increase so, in this particular case, the premiums will remain the same.

Don’t Lease Your Vehicle

Whether it’s a favour or for business purposes, don’t ever lend your vehicle to someone who is not covered under your policy. Any damages done outside the fringes of your contract are yours alone to bear.

Hire an Insurance Broker

It may seem like an extra expense, but hiring a professional is a worthwhile investment. A broker ensures that you make the best decision based on his professional opinion. In the long run, you will pay less for a cover than if you chose blindly.

Ignore the Unnecessary Cover Expenses

Windscreens and entertainment systems are some of the most basic items covered by motor insurance. However, floods, earthquakes and volcanic eruptions are rare, depending on where you park your car. In such instances, it makes no sense to pay for a comprehensive policy. UAP charges excesses of 0.25% for damages caused by riots.

Policy holders should note that insurance fraud is not an option. Getting caught is the least of your worries, even if the insurer simply cancels your subscription. It’s what comes after that bears the most consequences. Aside from prosecution, those caught committing fraud could face a maximum prison term of 10 years or a fine of no more than KES 1 million, according to the Kenya Penal Code.