5 Top Tips For Choosing and Saving On Auto Insurance
The choice of motor insurance provider is not one to be taken lightly. Your insurer’s reliability and efficiency might be all that stands between you and life-altering inconvenience and expense. It makes sense then to take the time (a few weeks or so) to make a decision that you will not come to regret in the event of an accident, theft, or damage to your car, bike, or other vehicle type.
But with so many short-term insurers flooding the market with promises of fast claims, low premiums, and service excellence, how do you know who to choose and how do you make a choice that you can be happy with?
1. Find Established Companies and Brokers
Your first mission when researching insurance companies is to make sure that you don’t fall victim to unreliable insurers or fly-by-night brokers who don’t have your best interests at heart.
Don’t use an insurer whose longevity you cannot verify and don’t use a broker whose transparency is less than complete – you have the right to know which insurance companies your broker represents and to be made aware of any potential conflicts of interest that might impact you should you have to file a claim.
2. Ask Friends & Family and Research Reviews
Word of mouth can provide you with some of the most powerful testimonials regarding your potential auto insurer – after all, who better than existing clients to tell you what service you can expect from an insurance company?
Ask friends for their advice and experiences; use online review services like hellopeter.com; and check out the activity and the comments left on social media pages. While any company can be forgiven for one or two bad reviews out of a dozen or so, if the complaints start piling up, it’s probably a good idea to look elsewhere for car insurance.
3. Assess the Cover You Need and the Cover You Can Afford
While you want to cover your vehicle against as many unforeseen possibilities as you can, if you’re on a budget it would be wise to purchase an insurance policy that covers against only those disasters you are actually likely to encounter.
For example, if you stay in a very dry area with a predilection for low rainfall (climate change notwithstanding), you might want to consider dropping cover against flood damage from your policy.
Working closely with a dedicated insurer or broker, you can determine exactly what your needs are and craft a policy that meets only those requirements most pertinent to you.
4. Compare Cover Quotes
It might surprise you to discover just how much difference there is between the costs of near-identical policies across different insurers. Don’t just take the first quote you’re given – compare quotes between insurance companies, weighing the cost of a policy against the comprehensiveness of the cover afforded by it.
When comparing quotes, make sure to take more than just the cost of each policy into account. Cost-effectiveness should be far more important than just cost – after all, a cheap policy does you little good if it leaves you uncovered in the event of disaster.
5. Regularly Review Your Policy
Even if your vehicle is covered by an insurer whose service you’re satisfied with, there’s nothing to stop you from regularly reviewing your policy to make sure that its cover reflects your current needs. Have you bought a new car or had your current one recently valuated? Maybe you’ve moved to a lower crime area or from the traffic-heavy city out to a more rural setting.
Your life is in a constant state of flux, but don’t let the details and cover options of your car insurance policy fall behind the reality of your circumstances or you might find that your motor cover lets you down when you need it most.
If you follow the simple steps in this article, not only will you end up with an insurance company you can trust, but you’ll keep your policy up to date and in line with your day-to-day cover needs. So, engage investigative side, follow these steps, and make the right choice in vehicle insurance providers!