Are you thinking of buying a new car in the near future? Then it’s time to start looking at car insurance. However, if you’re new to the process or looking to change providers, then this process might seem very daunting.
To help guide you through this process, here are 5 simple steps that you should take to find the most suitable car insurance for your requirements:
The Type of Insurance
It’s important to know that there are three main types of insurance available to every driver. These are Third Party, Third Party including Fire and Theft and Comprehensive. Car insurance is a must no matter where you’re located, so the minimal level of legal cover you can have is Third Party.
The three levels differ in the following ways:
- Third Party – this will cover you if you cause any damage or have an injury when within another vehicle. This type of car insurance will not cover any costs that are associated with your own vehicle.
- Third Party Fire and Theft – this is the same as the above with the added bonus of protecting your vehicle in case it’s damaged, stolen or there is a fire.
- Comprehensive – the highest level of cover available, it will include the following:
- Injury to other drivers and any damage costs.
- If your vehicle is damaged or has been stolen.
- Accidental damage and medical expenses.
- Theft of your vehicle’s contents.
There are also providers out there specifically designed for certain types of drivers – including first-time drivers and those who have been in accidents before due to drink driving for example.
For the latter, drink drive insurance offers the option to past offenders to have budget-friendly car insurance, giving them the opportunity to get back into driving.
Look at The Claims Bonus
When looking at different types of insurance, pay attention to whether it has a no claims bonus. The longer that you’ve been driving and have not had an accident, the better the price of your car insurance.
If you have had an accident and you’ve had to claim on it, you’ll lose up to two years of no claims bonus, resulting in an increase in your premiums. Some insurance providers offer no claims discount protection. This means that even if you make a claim, there will be no impact on your bonus.
Pay Attention To The Coverage
Alongside the type of car insurance, you should look at exactly what’s covered under the policy. As well as damage to your car, you might also be covered for:
- Loss or theft of car keys.
- Vehicle recovery.
- Accident transport.
- Car stereo, sat-nav or speaker damage.
Provide Accurate Information
When you’re on the hunt for car insurance, make sure that you provide accurate information each time you’re requesting a quote. By doing this, you’ll be able to get the most reliable estimates for your car insurance, which will make your final decision easier.
Compare and Contrast Different Providers
By comparing a variety of different providers, you’ll be able to find the best cover and best price for your car insurance. It’s advisable to not opt for the first provider that you see just because of the tempting price, but to look at a range of them, to uncover the level of coverage along with the payment options (i.e. do you have to pay monthly or can you also pay annually for your car insurance?).