Posts Tagged ‘Peace Of Mind’
Car insurance is compulsory, but it’s not necessary to pay more than you have to. A few simple steps combined with some time surfing for competitive car insurance rates really can save you serious money at renewal time.
Step 1 -Cut the Risk and Cut the Cost
The easiest way to cut your car insurance premiums is to cut the risk and accept a higher voluntary excess. An insurer’s standard excess may be £100 but if you meet the first £250 of any claim, you’ll see a reduction in your premium. This is because you’re taking on more of the risk so you get a discount. But it’s a gamble, be aware that you might have to meet the cost of a broken window after an attempted theft or a bill for repairing bodywork damage after a car park crunch.
Step 2 -Security Means Savings
Fitting security devices can also result in cheap car insurance premiums. All major insurers insist on Thatcham rated security equipment, usually a minimum of an alarm. If you live in a high-risk area for car crime, it makes sense to fit extra security. It saves you money when your insurance renewal is due and gives you extra peace of mind.
Step 3 -Annual Mileage, Less Means More in Your Pocket
If your annual mileage is, 5,000 miles or less, ask insurers if they offer discounts for agreed mileage restrictions.
Step 4 -Named Drivers Trick
Adding a named driver to your policy can increase or reduce your premiums depending upon the named drivers age, sex and driving record. Adding a young driver will increase your premiums, particularly with a limited or poor driving record. However, adding a driver over 30 years old with a long and clean driving record can cut premiums, particularly if the named driver is female!
Step 5 -Shop Around and Save Even More
The biggest car insurance savings come from shopping around. There can be massive differences between the lowest and highest car insurance quotes for exactly the same car and driver(s). Start off using good comparitive online quotation sites, take their best quotes and go direct to the cheapest car insurance company for more specific quotes.
So next time your renewal quote arrives, don’t just accept it and give your money away to the insurance company. Use the steps above and get the right cover at the right price.
Like many people buying car insurance, you shop around and buy online. Youve found a really good, cost-efficient deal. So when it comes to the final checkout, do you choose to tick Yes or No in that Legal Expenses Cover box? It will add a little more to the total, and its not an absolute requirement, so you may be tempted to leave it out. Not least because its definitely not the most well-known part of insurance! It is, however, something we think you really should consider adding if its not in the policy as standard. And heres an example of why:
Earlier in the year Jake, one of our freelance writers, was involved in a car accident. His Golf Mark I is his pride and joy, and hes spent many happy weekends working on it. So naturally, he wanted total insurance coverage for every eventuality even legal expenses.
This certainly proved to be the right decision after the accident. The car was hit from the rear, so some of the vehicle damage could be fixed. The insurance company worked fast to deal with the claim. Unfortunately, Jake also suffered a broken wrist and some whiplash. If he hadnt taken legal expenses cover, the bill for a solicitor to pursue his compensation claim would have been solely his responsibility. Fortunately, since he had the cover, Jake was able to get his compensation quickly. Working as a freelance writer, Jake doesnt have the safety net of employer sick pay. Lost hours mean lost money. Jake was out of work for a month and a months wages. With legal expenses cover, however, Jake was able to claim for loss of earnings and will receive compensation for them any day now.
The total cost of this peace of mind and earnings security? An extra 2 a month on his premium, surely a worthwhile investment for anyones money!
Fully comprehensive car insurance ensures that your vehicle is well taken care of, but how about the driver? Jakes accident was not his fault, but he had to spend a month off work. Without legal expenses cover, the cost of getting compensation would have fallen to him. With it, he was as well protected as his beloved car, and didnt have to worry about being able to afford to make a claim.
Take another example of a typical accident: you are unharmed, but your car has to wait in the repair shop for two weeks while parts come in. Without replacement car hire as part of your insurance deal, you will have to rely on public transport not the reason you bought your own vehicle! With legal expense cover, you can use a hire car and know that your trouble and inconvenience will be compensated.
All you need to do when you claim on your legal expenses policy is to provide the accident details in the same way you normally would all the paperwork will be taken care of for you. Its possible that you may need to speak to your solicitor, or appear in the stand in the event of the case going to court, but you wont ever have to pay any legal fees.
And the cost is low, sometimes even free. Admiral include it as standard. Most insurers do make a charge, but it averages around 20 a year for example, More Than charge 17.85, and Budget add an extra 24. Consider the legal battles that have resulted from accident claims in the past especially those where serious injuries and claims were involved. Compensation and costs can run into millions. No-one can doubt that in cases like these, legal expenses cover is a worthwhile addition to any policy.
So next time you buy car insurance, make sure your policy includes legal expenses cover. Take it as an extra if its not part of the standard package. Youll barely notice the extra cost, but youll certainly be aware of the benefits if you ever need it.