The cost of owning a car isn’t cheap so it’s definitely worth looking into ways to save money and one place to start is with your car insurance. All drivers must take out car insurance protection, but the mistake often made by many is picking an insurer to cover your first car and just renewing it every year, without checking if you are getting a good deal. If you shop around and consider your requirements carefully, you could end up saving some cash.
Covers the Vehicle at All Times.
When choosing car insurance, it is best to do your homework and check out what a company's policy does and does not cover before purchasing it. Make sure the policy you pick is right for you and covers the vehicle at all times. Accidents happen and whether the collision is your fault or somebody else's, dealing with the accident is bad enough, without having to worry about the financial side of things.
Do you need personal injury and personal liability?
Personal injury protection, also known as no-fault insurance, will cover healthcare expenses should you be injured as the result of a car accident. Personal injury protection will cover the medical expenses for both the injured policyholders and passengers. It will give you peace of mind that you and your family will be looked after if you need to make a claim.
Protect yourself against uninsured drivers
Despite laws making it compulsory to purchase auto insurance, many people choose to drive without it. Many drivers simply can’t afford it and choose to take the risk, hoping they won’t be involved in an accident. Paying for uninsured drivers is annoying for motorists who follow the rules as the costs are passed to you in the form of uninsured motorist’s coverage. Don't be upsold insurance you don’t need An insurance agent will usually try to sell you more coverage than you actually need so they can make more money. In general, you don't need a high amount of coverage unless you own an expensive vehicle, do a lot of driving, or don't have adequate health insurance. Car Breakdown Cover If you do not have a separate car breakdown cover, you can choose to add this to your car insurance policy. Make sure that you check whether it will be more cost-effective to add to your policy or to purchase a separate breakdown cover.
7 Tips To Save You Money
1. Mindful Driving Cuts Costs - The more mindful you are, the more accidents or violations you’ll be able to avoid, these events can raise your insurance rates. Insurance Companies often offer discounts to no claim drivers.
2. Larger Cars Cost More to insure - Buying a huge SUV may sound exciting but it can be more expensive to insure a larger vehicle than a smaller car. Some insurers will offer a discount if you buy a hybrid or an alternative fuel vehicle.
3. Increase Your Excess - When selecting car insurance, there are different amounts of excess you can choose from. This is the amount of money you would have to pay before insurance picks up the tab in the event of an accident, theft or other types of damage to the vehicle. Make sure you could afford to pay this excess in case of a claim.
4. Pay all at once - Where you can, paying for your policy in one go tends to be cheaper than paying on a monthly basis.
5. Enhance your security - The harder it is to steal your car, the less of a risk it is. This usually means lower insurance prices. Most newer cars have an engine immobilizer and alarm fitted. Adding a tracker adds another level of security.
6. Be accurate with your mileage - Don't assume that the lower your mileage, the lower your prices will be. The trick is not under-or over-estimating your mileage, check the clock and get the real figure.
7. Look at how you use your car - Make sure your policy reflects the way you use your car. If you're only using it to drive to the shops, you don't need a policy that covers commuting.
To Round It Up
Having the right car insurance coverage is a very important decision to make sure that you are covered in the event of an accident. You don't want to experience money problems when you are already dealing with the trauma of an accident. Do your research, compare quotes, and create a package that gives you the best cover possible within your budget.