Whether you’re buying clothing, jewellery or shopping for car insurance, you always want to get the best value for your money. But, what’s the secret to finding reliable, affordable car insurance that won’t cost an arm and a leg?
Shop around for the best deal on car insurance
Get quite a few car insurance quotes from different insurance companies before you buy or renew your policy. Insurance companies vary, so you could get a better deal somewhere else.
Don’t be afraid to change car insurance companies
You can switch insurance companies whenever you want, even if it’s in the middle of your car insurance policy term. If you find a better rate, switch over and save. Be sure to have your new policy in order before cancelling the old one so that you do not end up with no cover for an indefinite period of time.
Car Insurance Policies
There are three types of Auto Insurance Policies:
Comprehensive Car Insurance
A fully comprehensive policy includes Third Party, Fire and Theft and also covers damage to your own vehicle in the event of an accident. There are many extras, too, for example it will also give you cover when you drive another person’s car.
Third party, Fire and Theft
You get third party cover, as well as two useful pieces of cover – fire damage to and theft of your car, including damage caused by a theft or attempted theft.
Third party Only
This is most suitable for older cars that are fully paid and covers your legal liability if you damage someone else’s physical property (walls, vehicles, gates etc.) due to a motoring accident.
Factors that affect your car insurance premiums
A great variety influences your auto insurance premiums and these include:
Age: Young drivers are charged with higher premiums because of their lack of driving experience.
Job: If you work from home, you will pay less than when you drive at peak traffic on a daily basis.
Driving Record: A good driving record shows you as a lower risk and your premiums are lower.
The car you drive: The higher the value of the vehicle, the higher the premium. High performance vehicles are also more expensive to insure than their standard equivalents.
Location of the car: You’ll pay more if you keep the car in a high-crime area or park it on the street at night. Rather park your car in a locked garage overnight and your car insurance premium will be lower.
Usage of car: You’ll pay more if, for example, you plan to use the car for business delivery purposes. You pay lower car insurance premiums if you use your car for social or domestic purposes only.
Excess Payment: The higher the excess, the lower the premiums.
Security: Gear Locks and Satellite Tracking will help reduce your premiums
Happy driving and good luck in finding the auto insurance that suits your individual needs!