4 Tips To Get The Best Car Insurance
Compulsory car insurance is a fact of life and insurers know it. Fortunately there is a decent amount of competition, which means that there are options for keeping costs down. Here are some tips to save your pennies.
Start saving early
There is one factor common to almost all car insurance companies; premiums are substantially lower if you pay annually than if you pay monthly. Ideally you should therefore have the money ready when your insurance is due to run out. If you really can't, you could try taking out a credit card with an interest-free period on new purchases and then making sure you pay off the insurance before this period runs out. There are limits to how often you can do this so do whatever you can to get the money ready out of savings.
Use cash back sites
Everybody knows to shop around and everybody knows that some of the major insurers do not allow their data to be used by comparison sites. Once you've narrowed your possible policies down to a short-list, bearing in mind that price is not the only criterion for buying insurance, have a look on the cash back sites, such as Quidco, to see if there are more savings to be made.
Think about black box insurance
Black box insurance means that the insurer will fit a tracking device to your car and base your premium on how you drive. While this does have overtones of Big Brother, the alternative point of view is that there is so much CCTV in the UK that a black box makes very little difference to your privacy but can make a whole world of difference to your premiums. This is particularly likely in the case of younger drivers, whom insurance companies generally view as a very poor risk. The other benefit is that is your car does get stolen; it is simple to trace it.
In a way, there's a strong argument for saying that black boxes are just an extension of the sort of strategies motorists have long used to lower their premiums, such as fitting car alarms and immobilizers and making arrangements for secure storage. They just use modern technology to do so.
Get the right level of insurance cover
There are essentially three major branches of motor insurance cover. They are: third party; third party, fire and theft and fully comprehensive.
Third party is required by law, anything else is optional. It is important to tread carefully when considering enhanced cover and to have a complete understanding of what is and is not included in the cover.
For example, insurance against theft is unlikely to cover you for the full purchase price of the car, instead, the insurance company will use their book value, which may be significantly less. Hence it can be helpful to take out gap insurance from directgap.co.uk to cover the difference. Likewise fully comprehensive insurance is intended to cover accidental damage to your car, but it may or may not include breakdown cover.
The author is a professional writer, translator and penny-pincher. When not working she is often to be seen out and about with her collie dog. Otherwise she's likely to be taking photographs, playing poker or backgammon or reading books be Ian Rankin or Terry Pratchett. One of these days, she's going to write a novel.