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How to Get Cheap Car Insurance
The insurance industry in general is big business. As such they are interested in profit, not giving their customers as cheap a service as possible. They only reason they will do this is in order to remain competitive.
This is not a bad thing, it is after all simply good business. It is you, the customer who has the responsibility of ensuring that you are well informed, clear on what you need compared to what you are getting, and that most importantly, you are not paying through the nose to get it.
Below are the key points you should examine carefully to obtain the cover you need for a fair price.
Cover you need – NOT Cover that looks good:
We have all bought into the odd sales line at some point in our lives. When choosing Car Insurance is no different.
A prime example of this would be a person who pays a Fully Comprehensive Insurance Premium for a vehicle that is worth less than the yearly Premiums when put together. If you are insured against any possible accident of which you are to blame, is there really a need to cover the repair of a vehicle that would likely be crap metal anyway? In addition to this, any claim made on such a vehicle will quite possibly increase your ‘Potential Risk’ and therefore increase your future premiums.
This point is something that will need to be viewed on an individual case by case basis. You would be wise to assess the cover that you need and not be sold into the idea of anything more.
Occupation / Residential Address:
These two items of information that have an impact on your Car Insurance Premiums. Obviously they are both difficult to change just to decrease your insurance premiums and you ‘should not’ lie about either of them. If caught your policy would be void!
What in some case you may be able to do is ‘slightly tweak’ your Occupation. Say for instance you were a programmer consulting for a number of city businesses. You may find for example that there could be a Premium difference between ‘Consultant’ and ‘Programmer’.
Avoid Monthly Repayments:
Many people are unaware that when making monthly payments for their Car Insurance premiums, they should read closely the fine print. Interest added to the yearly sum can be upwards of 30% in some cases meaning potentially a substantial amount! Find out what this rate of interest is. It may be cheaper to put the whole yearly sum on to a lower rate credit card. Perhaps even take out a 0% Interest credit card/loan and pay a 12th of the yearly sum per month.
Utilize Price Comparison Websites:
Within your specific country you can Google ‘Cheap Car Insurance Comparison’ (or something similar). These will give a number of price comparison websites pointing you in the right direction.
Once you find the best quotes make sure you contact them directly and confirm a like for like comparison of the quotes provided. There may be a number of items that one has and the other does not. For example Legal Protection, Breakdown Cover etc.
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