How to Choose the Best Car Insurance Policy?
Getting a dream car is a special moment in anyone’s life. You invest a lot of time in deciding the color, interior layout and so on. But when it comes to selecting the car insurance policy, most of us simply go by what the advisor says. Very few people try to research it before taking one. True, that the technical jargon is hard to decipher but you got to learn them to have the best insurance policy. Being ignorant can cost you an incompetent policy.
Here are 9 tips to keep while choosing a car policy:
● Read, research and think:
Do not buy a policy just because your advisor or best friend told you it is best. Do your research. You have to keep in mind your income, the car variant you have, premiums you have to pay and the intervals at which they are paid. Regarding insurance, have a thorough read on what damages are covered, how much will you be reimbursed and what damages are not covered. Never ignore the tiny bits of information.
The internet has given us some amazing websites. You can always compare and contrast different insurance policies available in the market. It has dual benefits. You know which policy suits you the best. On the other hand, you can also upgrade your existing policy. For seamless comparison and detailed information about various policies, you can use the best quote insurance. The site has some insightful information regarding various policies and helps you in finalizing the best one.
Do keep in mind that insurance companies have different policies for different people. Young and old need to pay extra. How you maintain your car matters. And what has been your track record also matters. So always compare the policies keeping these factors in mind.
- Know your car:
Buying insurance is not that easy. You have to keep your car model in mind. Do not go by the advertisement for the insurers. If your car is of the old model with low fuel consumption, the premium amount will below. It is because; low fuel consumption translates to lower mobility. That means less damage. On the other hand, newer models have more efficient fuel consumption, mileage and also usability. That means more on-road damage and hence greater premium.
Do not hesitate to take a good policy just because the amount is higher. It may cover all the on-road damage repairs and will ease you out of a major headache. So when you are out to buy an insurance policy, keep your car model and year in mind. Do not expect low-cost insurance to cover your latest model. Some models like Nissan Micra, Volkswagen Polo are cheapest to insure.
That does not mean that your vintage car will have the same cover. It will go up as the car value is higher. Think about it logically. A vintage car or the latest model, both need the best in the market care. You cannot treat them like an ordinary car. It will affect their mileage and life as well. On the other hand, be alert if the insurance provider charges an exorbitant amount for your old or middle-aged models. Being informed will help you with financial management.
- Your age:
Okay, you least expected this part in the insurance guide. But know it for sure that age does matter when buying car insurance. The fact that young drivers are more enthusiastic and often resort to car stunts has not escaped the minds of the insurance companies. That is why the younger people have to shell out more premium amount.
This may ward off a large chunk of youth who want to own a sports car or any car for that matter just to be uber cool. Driving a car in public places is a responsibility. You cannot harm others or public property. If the amount of car insurance premium stops you from doing any stupidity on the roads, then let it be!
You cannot escape the fact that if you are a young buyer, you will have to pay a higher premium as well as the deductible. The same applies to older drivers as well. The fact that most truck drivers are over 50 years of age and have an aging vision and motor reflexes lead to a higher premium for them.
- Ask for a quote:
Car insurance companies do give offers when you call them personally. Give the company of your choice a call. Discuss all the details. Ask for a quote. If you need it, you can opt for bestquote.ie. They are the best insurance brokers in Ireland with a proven track record. Demanding a quote has another advantage of helping you out in the finances. You realize how much premium and the deductible you have to pay.
- Keep a track of repairs:
When your insurer sends your car for repairs, always be attentive. Reports are there where the company sent the car to unauthorized centers that manipulated the original spares. This costs you the quality of the vehicle. Also, it fiddles with the safety of a car. If a cheap replacement is done for any part, the problem persists.
The insurance company then charges something exorbitant in the pretext of giving extra repairing costs. So, just be attentive each time your car is out for repairs. Be sure to ask for a receipt for each repair. Look if they have a replacement with the original parts as well. With the EU having stringent rules for carbon emissions, you cannot fiddle with the car parts. It may cost you extra fines on the road.
● Your track record as a driver:
If you thought that you can choose car insurance based on your age or car model, you are missing out on a major factor. You need to keep your driving record in mind as well. Young drivers in Ireland have statistically proven that they are careless on the roads. As a result, the law is pretty tough on them.
You cannot escape your track record. Section 5(2) of the Equal Status Act, 2000, has allowed the insurance companies to levy higher premiums in the drivers with bad driving records. So you cannot legally complain that you are being charged higher because you have been a ruthless driver in the past! What do you advise? Try to find the policy that finds a mid-way. If you already have a bad record, discuss it with your agent.
You can show your past 2-3 years record as a more responsible driver. That may help. Many insurance companies offer lower premiums to responsible drivers.
- Keep an eye on the discounts:
Insurance companies resort to different promotion techniques from time to time. One of them is offering insurance at a discount. Keep an eye out for them. Go for the one that suits you the best. However, this part does need good research. Do not go for a particular policy just because it is offered at a discount. Choose the one that gives comprehensive cover to your vehicle as well.
- The track record of the company:
We have talked enough about the policies and drivers. Let us move to a more serious note. Do deep research into the claims and insurance deliverance of the company. See if they have a hassle-free process while reimbursing your claim.
The policy should cover damages of all sorts without you running from pillar to pillar. Insurance providers have gained notoriety in not delivering the claim on time. What is the use of buying an insurance policy if you cannot use it on time? So always go for the reviews and past experiences of the customers. Ask your friends and relatives if they know about the details of that particular company.
Owning and driving a car is not the end. You cannot drive a car unless you have proper insurance. It is utter foolishness to go for cheap and useless car insurance. Do not go for the ones that do not give you a sturdy cover over the damages. Choosing insurance can be a mind-boggling affair. You can always ask your family, friends and of course the advisor for the best deal. But whatever way you choose, always go for a policy that comprehensively covers the damages in all situations.
Many insurance providers do not cover third party damages. What is the use of having a policy if you cannot even have proper medical treatment out of it? So be an informed driver and pay attention to all the minute details of the paperwork. It will help you in saving your money while having a good deal on insurance. Be an alert driver. Drive carefully. This brings down the amount of premium to be paid without affecting the benefits. A responsible driver is always rewarded by a cheaper insurance policy.