Bringing down your car insurance cost to a reasonable level is well within the scope of most people, providing you do your research and apply some simple tips when going after new coverage.
Every company possesses its own algorithms to decide which premium level you’re going to have. You can save a great deal of money first, by going to one of the car insurance comparison sites available on the internet.
When going after very low-priced car insurance, you need to find possible policies as if looking at it from an insurers perspective. When an insurer looks at the details you have passed on to them, they weigh up the potential risk to themselves of having to pay out on a claim.
Beware of some insurers that are offering unusually cheap car insurance as many of these companies are actually registered overseas in countries such as Gibraltar. On top of that, some of these overseas registered cheaper insurers will only communicate with live chat or email and actually getting any kind of telephone support can prove difficult. It’s all well and good to use these companies, until the time comes when you have to make a claim. If you have trouble getting a settlement then getting any redress can prove difficult. With UK-based insurers you don’t face the same issues as you’re usually covered by the FCA (financial conduct authority)as well as the UK Insurance Ombudsman Scheme.
Many insurance providers give discounts to people who drive below 7,500 miles in one year. This may mean cutting down your driving, which is a wonderful method to save money on your motor insurance policy. If you’re unsure of your annual mileage, a great way of finding out how many miles you do would be to take a look at your MOT history from one year to another. MOT testers log down your odometer mileage on your certificates, so these give a good sign of the amount of miles you usually drive in a year.
Motor insurers will try to make more money from you if they can. Sometimes this is simply to cover the higher risk of insuring you, whether that’s because of your age bracket, where you live, or the insurance class of the car you drive. It all adds up to more factors that make up your insurance premium.
If you make changes to your car, you will need to tell your insurer. This might result in an increase to your premium especially if it’s a performance modification and they may also charge you an administration cost for the trouble of altering your policy to include these changes.
Some people attempt to get away with not informing their insurer of any changes in circumstance. This is a dangerous tactic that could backfire when you least expect it. You would have to contend with the insurance company potentially not paying up for the car you have hit, as well any damage to your own car because you failed to disclose the modification to them.
Don’t get caught without auto insurance today! Having vehicle insurance will stop you from being responsible for a huge financial bill and keep you on the right side of the law.