Are you paying too much for your car insurance? Here are few simple things which should be kept in mind while going for car insurance. Please note that opting for bare minimum plan is never advisable as it will be of any use when needed.
Simple and a basic tip is that one should not be tempted to pay the premium weekly or monthly. Interest will be charged around 24%, it will be judicious to spread the charge over 12 months.
While renewing the car insurance, always remember that a new insurer will be offering more discounts to attract the customer so much so no claim bonus given by existing insurer will be of negligible value. So instead of blindly renewing the policy from same insurer, you should make sure what others are charging for it.
Try to avoid taking claims of small value. Once you have taken the claim, no matter how small the value is, next year you will be deprived of no claim bonus. This will increase the value of following year’s premium. Put some extra effort in maintaining the car so as to avoid breakdowns.
Install some car security device. It will be one time extra cost but it will not only protect your car against theft but also may fetch you discounts by insurer as it reduces the chances of total car loss due to theft.
Different car insurance companies follow different guidelines while calculating your premium. Some personal information asked plays a crucial role in premium calculation. For e.g. your occupation may be deciding factor. So please be specific in the putting the details. Also non-disclosed or inaccurate information may prove to be a hindrance while taking claim.
Mostly car insurance companies will not cover extra gadgets added in the car or if they do, they will charge hefty amount. So customization of the car will only increase the premium value unnecessary but in case total loss, claim will be given only of depreciated value of car.
Little thought before buying the car insurance policy will considerably reduce the cost of premium.