Car insurance is something that’s often not given much thought by many people, until the point where they need to make a claim. Many people choose to go for the cheapest provider to minimise their monthly or yearly outgoings. However, this isn’t always the best approach. In this article, we look at the importance of choosing the right car insurance and what factors you should consider before making your choice.
Price
Price is one of the factors that many people base their decision on when choosing car insurance. However, companies often use tactics to make them look cheaper than competitors, but when you add on the extras you need, you could end up paying more or a similar price. When looking at the cost of different providers, you should note what that cost includes and the price of the extra add-ons; extras could include windscreen cover, breakdown cover and protected no claims. For a true comparison, select all the extras you need, then look at the price difference. Many people also choose to select auto-renew on their car insurance policy so that it continues to be in place each year. If you choose to do this and don’t shop around each year to see the other options available, you may end up paying much more than you need to pay. Providers will increase the cost each year, hoping you will stick with them anyway to avoid the hassle of moving your insurance. Even a quick call to your current provider can help you save money on your renewal cost.
Courtesy cars
If you need your car to get you to work and back or to take your kids to school, a courtesy car is a must-have on your insurance policy. If anything happens to your car and it needs to go in for repairs, you can use a car that the insurance company provides whilst you wait for yours to be fixed. Many insurance companies offer this as standard, but not everyone; make sure you check the details before signing up to see if a courtesy car is included and if there are any time restrictions or qualifiers in place to enable you to access a courtesy car when needed.
Specialist policies
You may not realise that performance cars and supercars need specialist insurance policies to cater to car owners’ needs. If you’re looking at performance cars for sale, make sure before you commit that you’re able to get insurance through a specialist provider that is willing to cover a car of such high value. These specialist policies will go into more detail about your lifestyle and how you use the car to ensure the insurance is fit for your needs. In addition, unlike many other car insurance policies, they will agree with you on how much money you will get back if the supercar is written off. This will impact how much you pay for your insurance premium. Most supercar insurance policies don’t cover the car’s entire value, as the insurance cost would be far too expensive. If you try to get insurance through a standard company, you’ll probably find they will class the car as non-standard and won’t provide you with insurance.
Reviews and previous customer experience
If you have an accident and need to claim on your insurance, the last thing you need is a company you can’t get hold of or one unwilling to pay out for your vehicle. Dealing with the sales team and the claims team of insurance companies is often very different, and you may not realise how poor the customer experience is until you are in need of help. To prevent adding more frustration to a stressful time, you should look up the reviews of different car insurance companies. These will show you which companies are recommended and the ones you should avoid. You can also speak to family and friends that have had to make a claim with their insurance in the past; this will give you an idea about which insurers were helpful and which should be avoided.
Before you select the cheapest car insurance when it’s time to renew, consider the points above and do some research to ensure that the insurer will be helpful and payout if you need to claim.
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