Car insurance is one of those things you payout for each month or year and never really see or hear anything from it until you need it. And if you do need to make a claim, you’re always thankful for that it’s there – especially when it’s a good policy.
There’s no straight line to gaining top-quality car insurance; there are a lot of factors which make a policy good. We break down some of the things you should look out for to avoid bad car insurance.
Tip 1: Shop around
Never accept the first offer. While you can’t really haggle your way to cheaper car insurance as it depends on many factors, you can shop around using price comparison sites. But don’t stop there. Find the cheapest policy which meets all of your requirements and then go directly to the insurer to see if they offer the same price (in some cases, they could be better).
Tip 2: Check the excess
If you’re after the lowest priced insurance, you could increase how much voluntary excess you pay. However, if you’re involved in an accident, you will have to pay the amount you’ve chosen, combined with the compulsory excess your insurer has set. While it will reduce the annual policy price, a good balance is to set the excess to a realistic figure that you could pay.
Tip 3: Pick the right cover
Sometimes, you will need to think about the ‘what ifs’. While it may work out cheaper to only have third party, fire and theft, if you find yourself in an accident that was your fault, your vehicle won’t be covered. Comprehensive cover ensures everything is covered in the event of an accident or damage to your car.
Tip 4: Consider having a black box installed
A black box, like those available from telematics insurance provider WiseDriving, can help reduce premiums as well as offering a range of benefits including helping to prove your innocence if you’re involved in an accident that wasn’t your fault and the ability to find your car if it was ever stolen – providing a greater chance that the vehicle can be recovered.
Tip 5: Build up your no-claims discount
The more years that you drive without making a claim, the higher the discount you could receive. Whether you’re choosing a new insurance provider or renewing with your existing one, your no-claims discount years are a testament to your safe driving. The safer you’re deemed to be on the road, the more discount you could receive on your insurance.
While the first thought may be to go straight for the lowest priced policy, really think about the extra details that could save you more in the long run – like excess, protected NCB and taking time to compare policies.