Saturday, July 31, 2010
With the internet age there is a much simpler way to shop for car insurance. Comparison sites are cropping up all over the web, and enable you to input your details and see a variety of quotes from different suppliers in the same place.
The minimum legal policy in the UK is Third Party. This will cover the driver for injuries to other people and passengers, property or damage from attachments such as trailers or caravans. Third Party, Fire and Theft covers all the above plus cover if the vehicle is set on fire or stolen.
Fully Comprehensive covers all of the above plus damages to your vehicle no matter what the cause. It also covers damage or loss to personal items in the car. Sometimes you can also be covered to drive someone elseâs vehicle in an emergency.
Usually, the above policies will include a courtesy car in the event of a claim, free European cover and legal aid, as long as the claim is not your fault. Some also include roadside assistance and recovery, giving you access to a helpline 24/7. Check your policy to see if these are standard or added extras, and whether youâd be covered for replacing locks and personal effects in the event of a theft.
Several factors determine how much you pay for your car insurance.
Your age is a big decider, as is your gender. Statistically speaking, women are a lower insurance risk than men, with the under 25âs of both genders being classed as the highest risk. The over 50âs are seen as the lowest risk age group, and can receive the lowest premiums.
The car you drive can also affect your premiums. Those that tend to run up expensive repair bills, and high performance vehicles will attract higher premiums, and also the cars most popular with the âboy racerâ crowd can be higher than youâd expect for a small car. Shop around for more than one car insurance quote for different cars before buying, so you donât get any nasty surprises when you come to insure your new car.
If you live in an area with a high crime rate, or heavy volume of traffic, this can bump up your premiums because insurance companies will see you as more likely to need a claim. Consider the option of storing your car in a private drive, or a garage, as this will help to overcome this factor and reduce your premium slightly.
Getting cheap car insurance neednât be impossible if you know a few tricks. Building a No Claims bonus can get you as much as 65% off your insurance with some companies, if you go for 5 years or more without a claim. Paying a higher excess will also bring your premiums down â but make sure you can comfortably afford a higher excess before you commit to it.
Any car modifications can have an impact too. Some, like fitting security devices such as immobilisers, alarms or trackers, can lower your premiums because it reduces the risk of theft. But other mods like bodykits, alloys, tinted windows and other things that are typical of a âboy racerâ car can be detrimental to your premium.
Before committing to an insurance policy, consider all the above points, think if thereâs any way you could change anything, and get several quotes to find the best deal.
Insurance companies ask for an awful lot of information when it comes to getting car insurance quotes. The level of detail required by the companies is all used to judge the risk you and your vehicle pose, and how likely it is you will make a claim. There are a lot of myths and rumours surrounding car insurance quotes however, most of which are utter rubbish. Here we dispel the fiction and reveal the truth behind your car insurance quote.
Car Colour Makes a Difference
A common myth but utterly untrue; many people are led to believe that the colour of their car will have an effect on their car insurance quote. There are two schools of thought on colour affecting car insurance premiums. The first idea is that the popular car colours: silver, black and red are easier to sell on and hence hold their value much better. Higher value cars tend to have more expensive insurance quotes, and so the myth goes that if you want to get a cheap car insurance quote, buy a car in a lurid pink.
On the other hand, rumours would have you believe that unusual car colours by their rarity are much more expensive to repair if there is any body work damage, and hence insurance companies require a premium for buying a car in fluorescent yellow. Both explanations are completely false; car colour has no bearing whatsoever on your car insurance quote.
My Credit History Will Be Reviewed
Whilst this was certainly prevalent a few years ago, in most cases now car insurance companies will not check your credit rating. The advent of the internet has made car insurance a highly competitive market, and with so many companies out there, insurers are much less likely to take your credit history into account than they were in the past. Whilst it is true that you can receive a discount to your car insurance quote for paying upfront rather than in instalments, this is true for all customers and has nothing to do with credit rating.
Living in a Sunny Area Will Get Me a Cheaper Quote
The reasoning behind this perpetuated legend comes from the true fact that drivers are less likely to have an accident in clear and dry weather conditions. As the myth goes, if you live in an area which has historically better weather, you will on average have more days on the road with clear and dry driving conditions which means you should have fewer accidents as a result of your geographic location. This myth arises from confusion about one of the criteria asked for from insurance companies. When getting a car insurance quote, companies require you to provide an address because they monitor the average crime levels in your neighbourhood. The weather is of no consequence to your car insurance quote.
Kim has 2 years experience in the car insurance industry. She enjoys writing articles on various topics.
A lot of womenâs car insurance companies are very comprehensive and therefore if you are renting a car for hire the insurance may already have you covered. Buying duplicate insurance is expensive and totally unnecessary, particularly if you are insured with a womenâs car insurance specialist which is likely to give you better cover than the standard policy offered by the car hire company.
This is particularly useful if you want to save money whilst abroad on holiday but it is always worth checking before you go away how comprehensive your cover is. Not all womenâs car insurance is valid for rental cars outside of the EU for example, so if you are travelling further abroad make sure you check your policy.
Credit Card Insurance
Even if you donât own a car but do need to hire a rental for a couple of days, there are other avenues outside of personal womenâs car insurance that can help you avoid paying a premium price with the rental company. If you have a credit card then somewhere in the small print thereâs probably a bonus about being covered for car insurance.
Different credit card companies have different regulations, some offer the service for free and others charge a small surcharge for the privilege. Itâs possible that you have been paying for the bonus without taking advantage of it, so now is the time to check with your bank. Unlike being covered by a fully fledged womenâs car insurance policy however, your credit card is only likely to cover you for a small basic model, so if youâre going to hire a smarter car, you will need to buy separate insurance.
If your car is in the garage for a lengthy repair, then car hire is a necessary alternative for your travel arrangements. A number of womenâs car insurance policies will pick up the tab not only for you to be insured on the rental car but to rent the car outright whilst your vehicle is being repaired. Donât pay through the nose whilst your car is being patched up, check with your insurance company to see if your car rental is complimentary.
Kim has 2 years experience writing articles for car insurance for women. She also enjoys writing articles on various other subjects.
There are many professions that require you to drive and be mobile as a part of your job. These professions could include anything from travelling to another office in the company to being a travelling representative for a company. Many companies recognize this element of employees work and provide company cars or compensate their workers for the extra money spent in petrol.
The problem is that if your employer does not offer a company car suitably insured and you have to use your own car instead then you are putting your car insurance at serious risk. Under normal car insurance cover you are permitted to drive to your place of work or to the train station car park, if you use your car for anything more than that with regards to your occupation then you need to apply for extended cover in the form of declaring the car will be used for business too.
If your car is not covered for Business Mileage then the insurance company may not cough up when you make a claim whilst using your car for work. This means that if you go on a training course or transport the day’s takings to the bank then you could be putting yourself at extra risk.
So why are people not being offered company cars for work? Well in a growing number of cases where companies offer company cars the workers are declining them due to issues over tax to be paid on them. For a long time now over two thirds of workers have claimed back mileage allowance from their employers, but employers have not informed employees that they need to include business use in their car insurance.
All insurers will ask when applying for car insurance quotes what kind of usage the vehicle will be involved in whether it’s personal or business and this is a factor that is fairly inexpensive to add to your current policy, in some cases it doesn’t add anything extra. In future make sure that no matter how frequently you use your car for work you remember to add business use to your car insurance as well as letting your employer know that they should inform all employees using their own cars needs extra insurance cover.
Andy Adams is an experienced UK writer working with car insurance.
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One of the ardent desires of people in all times and ages have been to buy the latest model cars. There is an inherent attraction in cars that just hooks people to these glorious machines. No wonder there are a huge variety of cars introduced since they were first introduced and every variety has been lapped up by people. Modern times have seen more and more variety of these wonder machines because the capacity to purchase cars have been most in people in todays times. Also the mushrooming of several financial institutions which provide loans at very cheap interest rates have also ensured that people who want to buy a car are not short of finances. All these have shown a remarkable increase in the sale of car. However, cars still come at a price which mean quite a lot to people, at least to those who belong to the middle class strata of society. So it is not difficult to understand that what happens in case the car faces some damage or is stolen. It is to help people in such a scenario that cheap car insurance was introduced.
The biggest advantage of car insurance is the fact that it is available at such a low price that it can very well be termed as cheap car insurance. The biggest help that cheap car insurance provides to people is that it relieves them from the trauma of arranging for money when his car faces some damage as that is done by the insurance company.
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These efforts would go a long way in ensuring that cheap car insurance help people a times when they need their help most.
Allan Elvin is an MBA in Finance and has a rich experience of writing on topics related to finance. He professes special interest and expertise in Cheap Car Insurance Insurance services and Car Insurance and in guiding you on its various details.
The insurance premiums for teens are much higher than that for adults. Since the number of crashes made by teenagers is anticipated to be more, the insurance company will have to face more payouts. So, the premium also comes to a higher amount. However, the insurers are always on the rush to narrow down this group which causes the most number of damages and teenagers are considered as a high-risk group. For this reason it is a difficult thing to obtain insurance for a teenager. So also, some insurance companies raise the premium amount so much that people back out from getting insurance for teenagers from them.
One way is to get your kid to join a Driver's Education course. It is seen that the probability of crashing is comparatively less in teenagers who take up this course. This is a way of getting the insurance company to lower your premiums. So also, the teenager should take a conscious effort to drive safely. This is because a major accident can lead to losing your coverage or a very high premium that you may not be able to afford. Another strategy you can plan in this regard is to get your teen to pay the traffic fees and fines. This will help to generate a sense of responsibility in them, and will ensure safe driving.
Moreover, it is seen that teens that use drugs, drink heavily, chain smoke or are bad students because more havoc due to traffic irresponsibility. So, you can try to project your child’s strong academic report to help in lowering your premiums. You can also perform a comparison of your expense on family insurance policies to the ones that cover you and your teen separately. Though the rates may be slightly higher, the savings you should be able to make in the long run will be much more.
Drive safely, keep updated on the road rules, be careful, and your insurance premiums will be as low as ever. So, do not panic; enjoy a comfortable drive with your teen behind the wheels!