Cheap monthly or annual premiums are not the only factors to consider before buying a car insurance policy. Never be carried away by the cheap final quotation of a car policy which may land at high payments when it is time to do a claim. Be wise and find out early the comparison between your expected premium contributions and your future claim excess payments in case of accidents or car theft.
What types of car insurance policies to consider ?
Many insurance companies offer two standard car insurance policies One is known as comprehensive car insurance. It is structured to replace a stolen car or repair damages. This can be pricey. The second one is the balance of third party. This pays in cases of fire and third party claims only. If you own or intend buying a new car, you should consider buying the former since it has a high replacement value. If you own or intend buying an older model, it is advisable to consider the latter since older models' value depreciate each year.
The best car insurance policy is that which is tailored to your specific needs and circumstances, offering you best value for money. I have scribed more important points.
Important points that are considered by Insurance Companies
- The demographics of the car insurance policy applicant play an important role when insurance companies draft the policies. The car owner from a high crime infected area, will tend to pay higher premiums. It is not pre-listed for the public to know high or low risk areas and is kept internally
- The age of the driver also plays an important role. Younger drivers are alleged to be prone to accident claims. The middle aged are considered to be safe drivers. Lady drivers sometimes fall under the latter category. The aged pay the cheapest premiums of them all.
- A one car driver will pay less premiums than more drivers you add to your policy. As a result,the more expensive it will become. But sometimes it is unavoidable to be a one car driver and if you include additional drivers,then you may wish to take out comprehensive insurance. If you can avoid adding drivers who will only be using your car infrequently then you will make large savings.
- A car owner who utilizes his car for income purposes, will pay higher premiums than a retired car owner. Be careful to disclose full car usage intentions in your application to avoid unnecessary future disappointments.
- Also, if you are experienced and have a clear driving record, with no claims bonus, your premium should be relatively low. This may mean you are able to afford a higher level of cover, such as fully comprehensive. It is worth remembering that individual insurers offer different options on their comprehensive cover. If there is something specific you would like covered, then you should inquire with the insurer you choose after using our comparison service.
What is a no claims bonus?
The best car insurance company is the one that compensate good drivers. This is termed as a no claim bonus. Your car insurance policy will accumulate some cash back on every anniversary, provided you did not claim. The more no claims bonus you and your additional drivers have, the greater the discount you will get on your car insurance premium. The principle behind this concept is motivating drivers to drive safely on the roads.
What is our site offering?
Before you put down your million dollar signature on any car policy, shop around online for the best car insurance that will suit your pocket. We have fortunately done a lot of spade work for you and did extensive comparisons of available car insurances online.
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