Which Car Insurance is best for me? 0

Car Insurance
Picking the right vehicle insurance policy for you, can be a tricky business. There are scores of policies to choose from, but in the case of Insurance, cheapest is most definitely not always best…. Or necessarily cheaper in the long run.

Firstly, you need to decide which of the three main types of policy you’re going to get: Fully Comprehensive; Third Party, Fire & Theft; or just Third Party. Once you’ve decided which level of cover you want, you then need to assess which company to go with.

When doing your research (which unfortunately you must do to get the best policy for you), you need to compare more than just the price of the policy, or the “premium”.  Many of us make the mistake of basing our choice solely on how much our policy is going to cost.  If you look beyond this and research exactly what you are being covered for, you may find you start to favour the more expensive premiums.  For example: How much Liability Cover do you get when you are determined to be at fault? Do you get windscreen cover? Do you get roadside assistance? Or a courtesy car if it’s required? Are your keys and locks covered, and by how much? Is your car covered if anyone other than yourself drives it? There are a lot of questions to ask, and you need to decide which of these ‘benefits’ you require.

Often a low premium goes hand in hand with a high excess and few perks – so if you do need to make a claim, the excess could be higher than the cost of the repair, which would mean the insurance company will not reimburse you for anything. The companies that offer a higher premium may offer a lower excess, or may offer other perks such as windscreen cover, roadside assistance or cover the cost of a rental car when required.

Another thing to you need to consider is whether or not you have the highly sought after ‘No Claims Bonus’. Some companies specialise in insurance for drivers with No Claims, so if you have built up No Claims for a few years, you could save a lot of money by switching to another company – it is best to review your Insurance annually, to ensure you always get the most benefits.

In order to determine the price they set for each policy, there are hundreds of variables the insurance companies filter through. Much like the odds on gambling, the odds on your involvement in a collision are very carefully assessed and figures are determined on that basis. The insurance companies are there to protect you if the worst should happen, but they are also a business, there to make profit – so don’t be fooled by low premiums! Do your research, ask the right questions and shop around.

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