Common Approaches to Finding Good Value Car Insurance

I have recently been shopping around trying to find the best policy for my motorcar, and I thought I'd share some of the tips that I've picked up along the way, in the hope it can help someone else save a bit of money.

The best place to start, when looking to get your car insurance premium down, is to shop around. Of course, it's obvious, but each company looks at every potential risk and puts their own multiplier onto it, which can mean wildly varying quote prices. There are plenty of comparison sites out there, so get signed up to Confused, Comparethemarket, Gocompare and any others worth trying. Each company uses actuaries to evaluate the risk multiplier for each situation, and of course they cannot be perfect.. so that's where you can take advantage, and get a better quote from one to the other.

One thing I've noticed, is that the comparison sites seem to take different levels of commission. For example, Confused always has a cheaper premium by around £10. I believe this is because the others take a larger cut. So, even though these comparison sites are checking the same companies.. they also can vary on price. Go and test this for yourselves, and you will see what I mean.

Another thing worth bearing in mind is the incentives that these various comparison sites offer you. At the time of writing, Confused are offering a whopping 1,000 nectar points to anyone who takes an insurance policy out with them. This doesn't make a huge deal of difference on a £900 insurance policy, but it does sweeten the deal a little bit.. especially when they are already the cheapest.. as they were for me.

Combine Vehicles onto one policy. Most insurers will give you an approximate 20% discount for adding multiple vehicles to your policy with them.. anything over 2. Think about your situation.. do you and your wife / husband have separate policies? Yes? Well then, you are throwing money away. This can even be extended to room mates / house sharers. As long as the vehicles are registered to the same address, there is usually no problem is sharing a policy.

Applying discounts you are eligible for can bring about significant savings. For example, you are deemed lower risk if you have a roadside recovery policy.. you may be a more conscientious road user I guess. There are discounts on offer for your job, where you live, where you keep the car over night, your education and many other variants. If you are serious about saving some money on your car insurance and bringing the cost of your policy down, then you have to look at these options within the quote forms.

Get lucky Sometimes you just get lucky with a quote. The more companies you try, the more likely it is to happen. It's not the most scientific of approaches... but it can work. Keep comparing! And good luck.

File Your Car Insurance Claim On Time

Drivers getting involved in any kind of road accident are shocked initially and it takes a moment or two for them to realise that they have actually bumped their car into somebody else's vehicle. And, one should not expect that immediately after the accident they would go to the insurance office and raise the claim.

On the contrary, if somebody takes the prompt action of reporting the incident to the police and then to the insurance office, he deserves to be applauded because that is the right sequence of doing the things in such kind of situation. But before doing that if somebody is injured, the victim should be taken to the hospital or as suitable. Now comes the question, at what time should you file for the car insurance claim.

Time to file car insurance claim

There can be so many consequences when the person gets involved in an accident. Sometimes, the person himself gets injured and he is unable to take any action. Sometimes his car is damaged at such a level that it takes time to estimate the repair cost and at other times there are so many legal formalities that there is merely no time left to contact motor car policy office to raise the claim. Insurers understand this, so they do not have stringent rules regarding the time frame. Since, car insurance policy is a contract and therefore it does have certain rules and regulations which also describe a reasonable time limit under which one should be able to raise the claim.

Understand your policy's terms and conditions

The time frame to raise the car policy claim varies from insurer to insurer. While buying the car insurance policy, one must read the documents carefully and understand each and every clause described in it. Even if you have acquired online car insurance, do not forget to read the fine print mentioned in the soft copy of your policy that mostly explains the exclusions and other vital elements relating to the contract. If you do not read it at the time of acquiring the policy, do take time to read it when you are thinking to raise the claim.

For insured's benefit

If you regularly pay your car policy premium on time, you may assume that you are in good books of your insurer. Of course, you will earn good name if you genuinely fulfil your responsibilities but it does not allow you to take unreasonably more time to file your car insurance claim.

It is always in the best interest of the insured to raise the claim as soon as possible. Though it does not have any extra benefits but it will also not cost you anything. However, if you file your claim at earliest possible time, your car insurer would be able to take less time in availing you the claim amount. Requirement of various other proof documents may come up while raising the claim. And you will easily be able to obtain that because it has not been long since you met with the accident. Added to this, you will not have to give explanations on being late comer to file for the claim.

Securing Cheap Car Insurance: Key Factors That Affect Insurance Costs

Every motorist wants to secure the lowest possible insurance cover, but the problem is how to do so without compromising the quality of the insurance coverage. But there are ways to secure cheap car insurance without necessarily affecting the extent of the protection provided.

The importance of securing low insurance premiumsrests on the fact that an automobile is not just an expensive item to buy, but to maintain and keep on the road too. Paying less for insurance is one way to keep the cost of having a car down, and ease the financial burden that can exist in other quarters.

But how can a motorist secure car insurance that is lower in cost and still excellent in coverage? Well, there are several things that can be done, from choosing your insurance company carefully to identifying the best discounts out there.

Choose Your Insurance Company Carefully

As is often the case with loans, many people think that the best deals are to be found with the largest companies. But the Internet has helped people realize that cheap car insurance - like low-cost loans - is available from some of the smaller insurance companies.

This is usually because the overheads smaller companies have to deal with are less so they can afford to offer better terms. What is more, since they are competing with major corporations, they must offer something better to attract customers. This means securing low insurance premiums is more likely when dealing with online companies.

However, the true value of their offers is reflected in the discounts available. A smaller insurance company is likely to offer larger premiums initially, but look at how their discount system can be of benefit. The car insurance can prove lower over 3 or 4 years.

Consider Policy Restrictions

Sometimes what seems like an excellent deal, turns out not to be. When it comes to getting cheap car insurance, the premium does not necessarily mean that the cost of maintaining and protecting your vehicle is lower. This is because a lower price brings with it certain restrictions that insurance companies say do not entitle the insured to a payout.

It is essential that the details of any insurance policy are examined, and any restrictions are considered carefully before deciding on the best insurance quote. It also means that securing low insurance premiums requires more than just looking at the overall price.

Elements to watch out for include what incidents are not covered by the policy, and how likely these incidents are to occur. For example, is it worth excluding theft from the car insurance policy to save $50 when the car is left at home, unguarded 3 or 4 days per week?

The Finer Details

There are a host of other smaller factors that need to be considered too, and which can help to secure a cheap car insurance policy. Some of the most obvious are the size and age of the vehicles in question, with older cars considered more likely to break down and potentially cause a traffic accident.

Another is your established driving record. Having a clean record immediately means the premium will be smaller, but securing low insurance premiums can also be helped by taking regular driving refresher courses, and avoiding getting a speeding or parking ticket.

Also, discounts are available to students with high grades, if the principal driver is female, and when extra security items are purchases, like an immobilizer for the steering wheel. When these factors are added, the car insurance premium can be adjusted downwards.