There is no such thing as a “one-size-fits-all” when it comes to car insurance. Insurance companies have different policies tailored to meet needs for their clients. The key to you getting your best car insurance is finding a balance between quality and affordability.
You need to determine the desired level of coverage and find an insurer with a good reputation. Buying car insurance however isn’t as easy as it sounds, and it’s easy to get ripped off or end up paying more premiums for your cover.
So we pulled together our top 5 tips that will come in handy when you shop around for the best insurance deals for your sweet ride.
1. Start with Your Vehicle
The premiums you pay for car insurance primarily depends on the kind of car that you have. New, expensive cars tend to attract higher premiums as compared to cheaper ones. If you are yet to buy a car and are looking into insurance policies, it is critical to have this in mind. Buying a less expensive car can significantly lower your premiums and allow you to enjoy cheap insurance. On the other hand, if you are undergoing financial difficulties and are looking for ways to lower car insurance, it would be a good idea to trade in your expensive car for a cheaper one to reduce your premiums.
2. Shop Around
Car insurance companies often charge different premiums for the same coverage. The odds are that you will discover substantial differences in the rates when you compare various insurers. Take the time to shop around for the cheapest car insurance rates. You can use online resources for research or just ask around for multiple quotes and compare them. This process may be tiresome, but it’s worth it.
3. Check Your Credit Rating
Some insurance companies take your credit history into account when compiling the insurance credit score which is used in calculating premiums. If you have a low rating due to overdue bills, personal bankruptcy, and other unmet financial obligations, the chances are that you will be charged more for insurance and many other things in life like rent, mortgages, and other payments. Before applying for a cover, look into your credit history and pay any overdue bills. Monitor your report and ensure that you are cleared before approaching the insurer for a policy.
4. Lower the Price
Once you get the best insurer for your policy, the next thing to do is to lower the price. Insurance premiums are calculated based on various factors and some of these are within your control. First, don’t pay for what you don’t need. Sometimes the insurer may try to sell you add-ons and legal expenses cover that will only inflate the price but offer you no substantial value. Determine whether you need the additional cover, and if not, you should not purchase it at all.
Another way of lowering your price is by buying the breakdown cover separately. If the breakdown coverage is included in the policy, check the price and level of cover. You can compare various insurers and find a better deal for the same, and this will lower the total cost of car insurance.
5. Check for Discounts
Insurance companies offer different types of discounts, and it is essential to look into them if you want the best deal. For instance, some offer discounts for having a clean driving record, insuring multiple cars under one policy, combining auto insurance with other policies such as homeowners’ or life insurance, or owning a car with certain security features. Some even offer discounts if you pay annual or six-month premiums at once. Ask for discounts when filling out the policy and take advantage of those that apply to you.
Give these guidelines a go to get the best deal on your car insurance from a reputed insurer. And always maintain a clean driving record and install safety features on your vehicle. Numerous accidents, claims, and tickets can inflate even the cheapest car insurance policy, and it may take a while to qualify for affordable premiums again.