Finding the Right Car Insurance Deal
Buying your car insurance can be a daunting task and one that many people dread each year when their car policy comes up for renewal. There are over 100 insurance companies in the UK alone, each offering different features and benefits and at a range of different prices.
So how do you find the right insurance deal?
We have compiled a list of items to take into account when searching around for the best insurance deal. These should only be used as a guide and it is advisable to seek advice if in doubt.
Compare like for like: It is essential that you compare premiums on a like for like basis. This includes the type of policy - comprehensive, third party fire and theft and third party only, the inclusive features and benefits and even the payment options each policy is offering. A deal which might initially appear the cheapest option might not necessarily be the right choice when it comes down to a claim, so choose carefully.
Hunt around for offers and online deals: Your annual renewal is likely to set you back a couple of hundred pounds so it is worth researching any seasonal deals or online discounts which might be available to reduce the initial outlay.
Payment options: Policies can be paid in full, by a few instalments, on a month by month basis and even on a pay-as-you-go basis. Carefully consider which option suits your financial situation best, taking into account interest rates, credit card charges and deposit amounts.
Haggle: If you get an insurance quote over the phone it is always worth trying to knock a bit off the price you are quoted. The premium will always include fees, which in some cases can be negotiated down with the agent.
Smaller engines insurance group: Cars with smaller engines are generally cheaper to insure, especially if you are under the age of 25.
Voluntary excess: Some insurers give you the option to increase the excess you pay in the event of a claim. If you opt to take voluntary excess this will reduce the premium you pay when you take out the policy, however following a claim you will be liable to pay both the compulsory and voluntary excess which can be expensive.
Security: Adding an approved alarm or immobiliser to your vehicle, and keeping your car garaged at night will all help to reduce the chance of your vehicle getting damaged or stolen and subsequently, drive down the cost of your premium. Remember it is a legal requirement to have insurance – never underinsure to save money as in the event of a claim, not having your car properly insured can be a costly and stressful experience.
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