Following announcements from main motor insurers in 2007, premiums for UK car insurance are usual to rise by 10-20% in 2008.
A range of causes have been quoted from a rise in claims due to unforeseen events such because the recent floods to premiums already being artificially low for several years. Whatever the reason, a further hike inside motoring costs coupled with increases inside other non-discretionary costs of living mean that 2008 possibly will be an expensive year for millions of UK residents.
Fortunately, there are a numeral of steps you can take to counter these inflation busting increases on your motor insurance.
STEP 1 – Don’t consider the hype
In spite of what the adverts speak you, there’s far extra to finding the cheapest cover up than only comparing the quoted rates. It’s a complex, multi-variable product, and deserves your attention since of this. Have a groovy consider about how and when you practice your car and what diversity of cover and options you do and don’t require. Lots of of us continue to renew policies using options we don’t require and are unlikely to exercise.
STEP 2 – Search online for the factual cover and the lowest price
The major benefit of searching online is that you can compare cover up and premiums from several dozens of companies with the same information. Price comparison sites will give you a baseline to work from, but be aware that not every comparison sites are equal. A few make assumptions about your needs and buy quotes that may be higher or lower than you will be offered. Look for comparison sites that guarantee the accuracy of the premiums quoted.
STEP 3 – Look to non-accepted and newer insurers for the greatest prices
A surprising study run by a shopper advocacy group ran profiles through 33 insurance companies via multiple price comparison sites, and checking a number of risk profiles. The end result was that newer insurers, and insurers not known for doing motor cover up consistently came out with the cheapest premiums. Don’t close your eyes to a magnificent price just because the company isn’t “known” for car insurance.
STEP 4 – Get cover that matches your driving needs and habits
Several of us only acquire a standard car insurance policy using cover options that we are unlikely to need or apply. If you’re a low mileage driver with a standard policy you may possibly be wasting hundreds every year. There is even a new ‘pay because you drive’ policy that uses a GPS device installed inside your car so that your premiums are linked to your personal driving habits including mileage, the roads you practice and period of day you practice them.
STEP 5 – Decrease the danger and make the most of discounts
Premiums for some insurance are based upon risk, so to decrease your premiums try and reduce the risk of needing to claim on your policy. Factors such as where your car is parked, how it is used and how secure it is are all factored into premiums. A small known trick that can work with any insurers is to add a low risk named driver to your policy. A female on top of the age of thirty using a clean driving record can cut your premiums by 5-10%.
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