Very Cheap Car Insurance – Our 3 Top Tips
Very cheap car insurance can be found for most vehicles and drivers if you know the tricks of the trade. Most providers have some sort cheaper car insurance policy you can purchase but in order to qualify for these rates, you must meet certain requirements and use the correct techniques when going about searching for this very cheap car insurance.
The tips below will give you a little guidance on how you can find the very cheapest car insurance.
Tip # 1:
Make sure that you purchase a vehicle that is in a lower insurance rating group. Prior to buying that car, call your insurer and ask what the premium would be on that year, make, and model. Also keep in mind how much replacing broken parts of that type of vehicle will run you. The more the parts cost, the more your car insurance will be.
If you purchase a very cheap car, then in most cases your insurance will be more affordable as well. The very cheapest cars are often cheaper to fix as well. This will work into the price of your premium. The safety features that come with the car can have an effect on your premium as well. Safer vehicles cost less to insure as even in accidents, less injuries tend to happen.
Tip # 2:
Take into consideration the minimum insurance requirements where you live. Most areas around the globe have very different levels of minimum coverage requirements. In the UK, the Government places a minimum mandatory coverage on all drivers to help protect anyone who gets behind the wheel. If you buy the minimum amount of coverage for your needs, you are likely to get a lower premium but please remember that this can be a false economy – the very cheapest is not always the best so please make sure the cover is appropriate for your requirements.
A lot of providers are very happy to sell a policy to a driver for the minimum amount. This puts less risk upon the insurer if or when an accident should happen. Due to less risk being placed upon the insurance company, many companies will offer coverage to you at a fraction of the regular premium.
Adjusting the size of your excess can decrease your premium as well. The larger your excess, the less your provider will charge you for your cover since you are being held responsible for more than they are. It is very important to remember that by raising your excess, you will be held responsible for that amount should an accident or anything happen.
For example, if you get in an accident and the total cost for the repair estimates out to £1,500.00. If your excess is £1,000.00, you will have to pay £1,000.00 out of your pocket to get the car fixed prior to the insurance company throwing in their £500.00 that that they owe. Whereas, if you had a lower excess of say £250.00 and the same accident occurred, you would be responsible for the £250.00 and the provider would be required to cover to get the car fixed.
Higher excess are nice to lower payments but can cost you in the long run if you have a very bad accident and have to pay directly out of pocket to get it fixed.