Five Steps To Beating Rising Automobile Insurance Premiums
Following announcements from leading motor insurance companies in 2007, premiums for UK automobile insurance are expected to rise by 10-20 % in 2008. An array of causes have been quoted from a rise in claims due to unanticipated activities such as the recent floods to premiums already being unnaturally low for some years. Whatever the reason, a more hike in motoring costs coupled with increases in other non-discretionary costs of living mean that 2008 can be a pricey year for millions of UK residents. Luckily, there are a number of steps you can take to counter these inflation busting increases on your motor insurance. STEP 1 - Don't believe the hype In spite of what the adverts tell you, there's far more to finding the cheapest cover than merely comparing the quoted rates. It's an intricate, multi-variable product, and deserves your attention due to the fact that of this. Have an excellent think of how and when you use your automobile and what sort of cover and alternatives you do and don't need. Many of us continue to renew policies with alternatives we don't need and are unlikely to make use of. STEP 2 - Search online for the right cover and the lowest rate The primary benefit of searching online is that you can compare cover and premiums from numerous dozens of companies making use of the very same details. Rate comparison sites will offer you a baseline to work from, but be mindful that not all comparison sites are equal. Some make assumptions about your demands and get quotes that could be higher or lower than you will be offered. Try to find comparison sites that assure the accuracy of the premiums quoted. STEP 3 - Look to non-traditional and newer insurance companies for the best rates An unexpected research study run by a consumer advocacy group ran profiles through 33 insurance companies by means of numerous rate comparison sites, and examining a number of threat profiles. The end result was that newer insurance companies, and insurance companies not known for doing motor cover consistently came out with the cheapest premiums. Don't close your eyes to an excellent rate just due to the fact that the company isn't "known" for automobile insurance. STEP 4 - Get cover that matches your driving demands and routines Many of us just get a conventional automobile insurance coverage with cover alternatives that we are unlikely to need or make use of. If you're a low mileage driver with a conventional policy you can be squandering hundreds every year. There is even a new 'pay as you drive' policy that makes use of a GPS device installed in your automobile so that your premiums are linked to your personal driving routines including mileage, the roads you make use of and time of day you use them. STEP 5 - Reduce the threat and take advantage of discount rates Premiums for any insurance are based upon threat, so to reduce your premiums try and reduce the threat of should assert on your policy. Aspects such as where your automobile is parked, how it is made use of and how secure it is are all factored into premiums. A little known trick that can work with some insurance companies is to add a low threat named driver to your policy. A female over the age of thirty with a clean driving record can cut your premiums by 5-10 %. Have an excellent think about how and when you use your automobile and what type of cover and alternatives you do and don't need. Many of us just get a conventional automobile insurance policy with cover alternatives that we are unlikely to need or make use of. There is even a new 'pay as you drive' policy that makes use of a GPS device installed in your automobile so that your premiums are linked to your personal driving routines including mileage, the roads you make use of and time of day you use them. Premiums for any insurance are based upon threat, so to reduce your premiums try and reduce the threat of needing to assert on your policy. Aspects such as where your automobile is parked, how it is made use of and how secure it is are all factored into premiums.
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