Top 3 tips to get cheap car insurance
Car insurance is an important monthly expense and one is always looking for the best car insurance deals. What are the top 3 tips to get cheap car insurance, which is low on the pocket but does not compromise on the basic coverage.
Top 3 tips to get cheap car insurance – profile out your needs – A typical car insurance covers the medical costs to the car owner for injuries, takes care of damages and repairs to a vehicle, compensates for loss of vehicle in a theft situation and also takes care of third party damages. To get a cheap car insurance, you should first profile out your basic needs and the additional coverage needs. The statutory and basic coverage should not be avoided. After profiling your basic needs, you can decide what are your additional coverage needs – it could be a medical coverage, it could be breakdown assistance in your own country, it could be a roadside assistance during a vacation etc. While doing this exercise, you could avoid duplicate coverage, if already an existing policy covers any of these. Also you could look at additional coverage when and where needed and add that into the premium at a later date. Next is to take parameters which Insurance Companies classify as risk mitigation. Examples are, a good preventive maintenance history, your car being is fitted with adequate safety and anti-theft equipment etc. This could get you lower premiums. Loyalty Bonus is another factor which can translate in two ways – you have a good standing and you negotiate for a better deal or you insure more of your cars with the same provider to qualify for volume discounts.
Top 3 tips to get cheap car insurance – do a comparison, talk and share. Price comparison with similar insurance providers often gets you adequate knowledge and bargaining power to get the best premiums. You could also talk to reliable agents from your area who could give you useful insights into similar deals. Your car garage can help you with a few decisions, especially suggestions on the best insurance provider in terms of claims handling effectiveness. And finally, there will be a host of your friends, discussion groups etc. who could share useful information with you. Similarly, you could contribute by sharing your own info.
Top 3 tips to get cheap car insurance – you have a role to play –Insurance Companies have a pre-defined deductible. So, if you can manage to pay a larger deductible, you could get a benefit of lower premium. Your clean driving record and a good credit history will play an important part in getting a good premium. And if you really have these two stacked up well, you could bargain your way. One other way is to check your mileage and stick to the threshold specified by your Insurance provider, as each mileage limit has a different price.
A really cheap car insurance is the one that takes care of your comprehensive needs, adjusts its premiums to basic parameters and offers a flexibility to include coverage whenever needed and gives you a peace of mind always with an efficient claims process.