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How Does Your Car Type Affect Your Auto Insurance Policy?

Although it is legally mandatory, having an auto insurance plan for your vehicles does indeed eliminate a lot of financial burden or stress. The financial protection it offers against any loss or damage not only keeps your finances in check, but also ensures stress-free driving at all times. The auto insurance premium is an essential factor to keep in mind when purchasing / renewing a insurance plan. They can weigh down your pocket due to some aspects that need to be taken into account. Here are some of these aspects.

The make, model and variant of your car

It is a known fact that the premiums for a luxury car or sports car like a sedan would be much higher than for a sedan. Since these expensive cars have a high maintenance cost, they charge a higher premium amount for their insurance plan. The fuel variant also plays a role in any kind of compensation. A diesel variant car would have a higher premium over a gasoline / CNG model. Therefore, the elemental makeup, type and even the displacement of your car’s engine are factors that contribute to the amount of the premium. Making sure the policy is affordable with the most suitable add-ons for your vehicle is one of the most important decisions you make when buying a car.

Vehicle age and insurance area

The age of your car and where you get your car insured are two additional factors that determine the premium amount for your car. The age of the vehicle corresponds to two essential interdependent notions, namely the Depreciation and the Assured Declared Value (VDI). Depreciation refers to the reduction in the value of your car due to natural wear and tear over time. In contrast, the IDV is the approximate current market value of the vehicle. It will cost less to insure an older vehicle and more for a new car due to the aforementioned concepts.

The auto insurance of a metropolitan city will be higher than that of a Level 2 or Level 3 city, as the frequency of accidents or damage tends to be higher in subways due to heavy traffic and congested roads. Compared to the quiet, easy-going life on non-subways, subways are more likely to claim repairs in a fast-paced environment.

Other factors that play a role in determining the premium amount are type of coverage, availability of add-ons, anti-theft devices / security features, loss-free bonus, experience of the car owner, the frequency of claims and voluntary deductibles.

Therefore, when purchasing / renewing an auto insurance policy, keeping the above aspects in mind, compare auto insurance online quotes and supplements provided by several insurers and finally choose the insurance policy best suited to your needs. Make a wise decision because, after all, a penny saved is a penny earned.


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Lancashire car insurance prices are at their lowest since 2016 – here’s why

Motorists driving fewer miles, a drop in road accidents and fewer cars on the road during the Covid-19 pandemic triggered the biggest drop in auto insurance prices in more than six years.

British motorists are now paying some of the cheapest prices for their car insurance since 2016, and new research suggests the Covid-19 pandemic could be the reason for these significant savings.

A new report from Confus.com found that the number of accidents on our roads has dropped significantly, as motorists claim to drive fewer kilometers than before the pandemic began.

This, among many other reasons, contributes to a significant reduction in the amount that drivers currently pay for their auto insurance.

In early 2021, Confused.com’s quarterly auto insurance price index recorded the largest annual fall in auto insurance prices in more than six years.

The average price paid by drivers is now £ 538, down £ 87 from the same period last year.

This means that insurers have significantly lowered their prices since the start of the Covid-19 pandemic.

The pandemic was financially difficult for many people, so there is no doubt that a drop in the annual car insurance bill was welcome.

But why exactly have the prices fallen so much?

New freedom of information data obtained by Confused.com shows a 26% drop in road accidents last year.

And according to the data, police forces reported 192,001 traffic accidents in 2020 – most of which were passed under lockdown restrictions.

This is a decrease from 258,994 in 2019.

This equates to 710 reported accidents per day in 2019 and 525 in 2020 on average.

This is arguably due to the fact that UK roads were significantly quieter last year, which meant that the chances of accidents were much lower.

Between confinement and telecommuting, driving has become a novelty for some.

In fact, the number of times per week that drivers would use their cars fell from five to three during the pandemic, on average.

And that means that the number of kilometers people travel each year has drastically decreased.

Average annual mileage in the UK has risen from 7,239 before the pandemic to 4,113, research shows, and data shows that could continue as restrictions ease as more than one in three UK drivers (37%) say they’re likely to use their car less once we’re out of containment.

For almost two in five (38%), this is because they will not travel to work as often, while almost one in three (31%) will make fewer trips across the Kingdom. -United.

Lancashire Telegraph:

Likewise, the number of drivers taking their cars off the road increased dramatically at the start of the pandemic.

Data from the DVLA shows that the number of people requesting Off-Road Legal Notification (SORN) increased from 250,352 to 526,747 between February and March last year.

In total, nearly 3.6 million successful SORN requests were filed last year, up from 3.4 million in 2019.

The equivalent of 3.7 million UK drivers also sold their cars during the pandemic, with more than one in four (27%) saying they could not justify paying taxes and insurance on a car that ‘they weren’t using.

One in four (25 percent) also found that they no longer needed the car, while more than one in seven (15 percent) just needed the money.

With so many cars sold or sitting at home in the driveway, the number of cars on UK roads was significantly lower during the Covid-19 pandemic, meaning the risk of accidents was much lower than usual.

And this is a key consideration for insurers when offering a customer a price for their auto insurance.

As the risk decreased, insurers were able to lower their prices to reflect the fact that fewer claims were likely to be made, meaning drivers were able to realize significant savings when finding their car insurance.

However, it’s not just the reduced risk on the roads that arguably contributes to today’s auto insurance costs.

Figures released by SMMT in 2020 show that new car sales in March and September of last year were at their lowest for 10 years.

As a general rule, newer cars are more valuable which means they are much more expensive to insure as the cost of repairing any damage in the event of a claim would be higher.

With far fewer new cars on the road, insurers were less likely to shell out heavy claims for new cars.

It’s not just auto insurance that helps people save money.

Lancashire Telegraph:

The way people use their cars has also changed a lot over the past year, which means that many drivers have seen significant savings on their regular expenses.

Drivers say they saved £ 92 per month, or £ 1,104 over a 12-month period, on average.

For the most part (83%), these savings were due to generally lower fuel consumption, while almost one in two (49%) saved money by making fewer long trips.

One in four (25%) also saved money by having fewer or no repairs done on their car.

However, this could be because many garages were forced to close during the early stages of the lockdown, when the government announced the MOT holiday – entitling people to a six-month extension of their MOT certificate.

More than one in seven motorists (15%) took advantage of it, which equates to six million drivers.

The lockdown also triggered a change in behavior among drivers, raising awareness among some of the impact their driving habits have on the environment.

Emissions were reported to have dropped 10% during the Covid-19 lockdown, which could explain why nearly a third (31%) of drivers who said they would use their cars less in the future claimed they would do it because they were aware of the impact it has on the environment.

Almost a third (29%) of drivers even said they would consider buying an electric car in the future.

Almost one in ten people (nine percent) would even seek to reduce the number of cars in their household.

While it’s clear that the lockdown has helped many drivers save money – which has undoubtedly been welcomed during a considerably difficult time for many – the lockout restrictions are starting to ease.

While many drivers may now think they won’t be behind the wheel as often, the opportunity to get out and explore, or visit family and friends further afield when it’s safe to do so, might be too great an opportunity to miss.

And as traffic slowly increases over time, we might start to see the number of crashes increase, with mileage returning to pre-lockdown numbers and people looking to invest in newer cars again. .

And with that, the prices of auto insurance could start to climb over time.

But how quickly all of this is happening remains to be seen.

Confused.com auto insurance expert Alex Kindred said: “We are seeing drivers paying the lowest price on auto insurance since 2016, which we have no doubt many people will welcome afterward. an incredibly difficult and eventful year.

“And that’s just because so much has changed since the Covid-19 pandemic hit in March of last year.

“Our report shows that the roads are much quieter, and the police are reporting a significant drop in the number of accidents they deal with.

“All of this means that insurers face a lower risk of paying claims. And the good news for drivers is that it translates to lower prices for them.

“However, as we ease off the lockdown over the next few months, things should return to a certain sense of normalcy.

“It remains to be seen how this affects driving habits.

“Even if insurance prices start to climb, there are still ways for drivers to cut costs, although it can be confusing where to start.

“We have compiled our best tips – and the first thing to do is update your mileage. If you move less or do less long-distance trips, it could save you a few pounds. ”


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Consider These 10 Points When You Compare Car Insurance Online


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Here are 10 things you need to consider when comparing an auto insurance policy online

Under the Motor Vehicle Act 1988, having an automobile insurance policy is mandatory for every car that is driven on the road. When you purchase four-wheel vehicle insurance, it not only forces you to follow the law, but also provides you with many benefits. Buying auto insurance online is a simple and easy process, however, before purchasing auto insurance, you might have a hard time choosing the right plan. If you are considering buying a car, consider these 10 points when you compare auto insurance policies online:

1. Understand the types of auto insurance policies

The first thing to consider when you compare auto insurance online is the type of auto insurance policies that are available. You should know that :

  • Automobile liability insurance
    Covers damage that your vehicle causes to a third party or to property. Your own damages are not covered
  • Comprehensive auto insurance
    Also called fixed-price car insurance, here civil liability as well as your own damages are covered
  • Auto insurance for personal damage
    If you already have liability insurance and want to extend coverage, you can opt for a stand-alone policy.
  • Custom car insurance
    When you don’t use your car too often, you can take out this kind of policy, where you buy insurance based on the number of kilometers you drive in a year.

2. Assess your needs

Once you know the types of policies available in the market, you can define your needs and then purchase a policy that is right for you, your car, and your budget. While this is only the liability insurance that a vehicle is required to have, by law an all-risk policy gives you much more coverage.

3. Know the company

When buying an auto insurance policy, be sure to research how the business works. It is important to read reviews and testimonials about the company, which are available online. Try to choose a company that has a good reputation with its customers.

Advice: After comparing auto insurance online, you can visit the websites of the shortlisted companies and find out about their backgrounds and procedures.

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When comparing auto insurance, read the fine print to try to understand in detail how the plan works to avoid any unwanted surprises.

4. What is covered and what is not?

While it may seem like most companies offer similar coverage, it’s important to read the fine print and understand the inclusions and exclusions before making the final decision. So, when you compare auto insurance, try to understand in detail how the plan works to avoid heartburn later.

Advice: If you don’t think you are able to understand the policy documents, speak with a customer service manager or insurance agent to find out the details of the plan.

5. Complementary modules

With a comprehensive policy, you have the option of further improving coverage by opting for additional guarantees. While adding an add-on will increase the premium, it would benefit you in the long run.

Advice: Once you have compared the prices offered by different insurers on PayBima, choose the rider / add-on you really need, from the company that offers you the best deal.

6. Networked garages

In a network garage, the company pays your repair bills directly with the garage. Most of the time, the claims settlement process at a network garage is quick and convenient, and requires minimal paperwork.

Remember: Cashless repair at a network garage doesn’t mean you don’t have to pay anything out of pocket. Although this is mostly a small amount, you have to pay the uncovered expenses out of pocket.

7. Comparison of quotes

When buying online, comparing quotes is like a golden rule. To make the comparison easier and simpler, you can use an online car insurance calculator. This free online tool allows you to compare several fonts at the same time.

Remember: When comparing the prices of policies from 2 or more companies, be sure to compare the same coverage. Adding different add-ons wouldn’t give you an accurate estimate.

8. Claims settlement ratio

CSR, a company’s claims settlement ratio is published annually by the Indian Insurance Regulatory and Development Authority. This is the percentage of the number of complaints that have been settled out of the total number of complaints that have been raised.

Remember: Often times there are fraudulent claims or claims that are fulfilled without proper documentation, so be sure to take into account other important comments as well.

9. Discounts

You may not be able to get a discount when opting for liability insurance, however, you can negotiate with your insurance company when purchasing an all perils policy.

10. Customer service

Customer service is the face of the business and it reflects the way the business treats its customers. Proactive, knowledgeable and courteous customer service should be favored.

Conclusion

There are many insurance companies that offer auto insurance, and while this competition can help you as a customer get a good deal, it can often get a bit confusing to choose the best policy for your vehicle. When you compare auto insurance policies online, keeping in mind the points mentioned above will help you make the right choice.

For the latest automotive news and reviews, follow carandbike.com on Twitter, Facebook and subscribe to our YouTube channel.



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Electric car insurance prices fall in the first quarter of 2021

The average cost of insuring an electric car has fallen by £ 75 in the first three months of 2021, new figures show. Data from the price comparison site CompareTheMarket.com showed that electric vehicles are, on average, now almost £ 50 cheaper to insure than their gasoline and diesel equivalents.

In the first quarter of 2021, figures from CompareTheMarket.com revealed that the average price of electric vehicle insurance fell to £ 566. This is a drop from £ 641 in the last three months of 2020 – a drop of £ 75.

The data coincides with similar figures showing that insurance prices are falling across the board, after closures reduced traffic volumes. This in turn meant fewer claims, which saved insurers money and lower premiums for consumers.

Against this backdrop, a reduction in insurance premiums for electric vehicles (EVs) was to be expected, but CompareTheMarket.com says EVs remain cheaper to insure than gasoline or diesel cars. In fact, the company claims the average premium for electric cars is £ 45 lower than gasoline or diesel vehicles.

The news also comes amid an increase in the popularity of battery-electric vehicles. The government now claims that half a million electric and plug-in hybrid vehicles are registered for use on UK roads, and figures from the Society of Motor Manufacturers and Traders (SMMT) highlight the increased demand for electric vehicles. In the first three months of 2021, electric vehicles accounted for 7.5% of all new cars registered, up from 3.8% in 2020.

Kia e-Niro '2' with 64kwh long range battery

“Electric vehicles are rapidly gaining popularity ahead of the government’s goal of phasing out new gasoline and diesel cars by 2030,” said Dan Hutson, auto insurance manager at CompareTheMarket.com.

“The transition to electric vehicles will be vital in tackling climate change, but the higher initial cost of these cars compared to traditional models has often been a deterrent for many motorists. Drivers who switch to greener vehicles will be pleased that our research shows that electric cars could deliver significant financial and environmental benefits over time. If drivers are considering buying a new car, an electric vehicle could be an attractive option given the savings in insurance, fuel, and taxes.

“In general, electric cars have fewer complex moving parts that can be damaged compared to a traditional motor, and the batteries are reasonably well protected in the event of an accident, which reduces the risk of replacement. Electric cars are generally less likely to be stolen and more likely to be recovered when they are, due to their limited range and the fact that charging takes a relatively long time.


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How to change your auto insurance policy

Are you considering changing your car insurance company? Here is an overview of the process. (iStock)

Getting a new auto insurance policy can be a more complex process than you might think. It is not enough to find a cheaper quote and change insurer.

Before making any changes to your policy, you should carefully note your current coverage, compare quotes, and research the auto insurance companies that meet your needs.

Here are a few simple steps to walk you through the steps of changing your auto insurance policy. You can compare policies and explore your coverage options on Credible.

THIS IS THE BEST WAY TO REDUCE YOUR AUTOMOTIVE INSURANCE COSTS

1. Research your coverage needs

If you are considering changing auto insurers, your first step is to reassess your coverage needs to see if they have changed. This way, you can opt for a new policy that saves you the most money. For example, you might find that you are able to pay higher deductibles than before, in exchange for a lower rate. Or, you may be eligible for insurance discounts that did not apply to your situation previously.

You can also adjust your coverage on an older vehicle by removing your collision coverage and comprehensive coverage, keeping in mind that these coverage options would be less comprehensive if you did find yourself in an accident.

2. Change coverage at the right time

If any of the situations below sound like yours, it might be time to change your car insurance:

  • Highlights: Getting married, graduating, or moving across the country for a new job? A big change in your life could prompt you to change your policy.
  • Next renewal: If your policy renewal date is approaching, this might be a good time to change companies. On the other hand, leaving a policy too long before it is renewed could result in penalty charges.
  • New car / driver: If you add your teenager to your auto insurance policy or have purchased a new vehicle, your rates are likely to change. Some companies offer better student and multi-car discounts than others.

While you can compare coverage options at any time, don’t change auto insurance companies while you have an open claim. The claim could result in higher insurance rates and complicate the claims process, requiring you to stay in touch with your old and new insurance companies until the claim is resolved.

Visit Credible to explore your auto insurance options.

3 REASONS WHY YOU NEED A DASH CAM IN YOUR CAR

3. Compare quotes

The only way to be sure that you are getting the best rates is to compare car insurance quotes from several insurance companies. You can compare auto insurance quotes by visiting the websites of a few auto insurance providers. All you need to do to get custom rates is enter a few details about yourself and your coverage needs, and you’ll get a free quote.

During this step, it is also a good idea to contact your current supplier to see if the company is willing to match the quote and offer you a better price.

4. Do your research

You should spend time researching auto insurance companies and the transition process before you take a step. Examine:

  • Client experience: Online reviews can give you insight into how a business treats its customers.
  • Savings possibilities: You can also view their discounts and rewards, comparing them to those of your current provider.
  • Terms: Find out about the cancellation policies of your current supplier. Although you can cancel your policy at any time, some providers may charge a fee if you change providers in the middle of your coverage period.

To make sure you aren’t paying too much for auto insurance, it’s free to check online through Credible’s partners.

HOW TO CHECK IF YOUR AUTO INSURANCE PAYMENT IS TOO HIGH

5. Switch from one operator to another

Changing car insurers should be an easy process. While you should ideally change auto insurance companies right before your policy expires, be careful not to let coverage expire. This could result in higher rates.

Simply stopping your payments won’t end your coverage, but it could hurt your credit. To cancel your old policy, you must tell your insurance agent that you want to end coverage. You can even ask for written confirmation, which can be useful if you need to dispute a credit entry or charges related to your policy.

You should also log into your account online to ensure that no future automatic payments are set up to be withdrawn.

Once you’ve contacted your old carrier to cancel your policy and activate your new coverage, you’re good to go. Simply exchange your ID cards.

3 WAYS TO GET CHEAPER AUTO INSURANCE RATES

Changing car insurance company can pay off

Changing car insurance is a straightforward process that could result in significant savings over time.

Whatever stage of your life, take a few moments to reassess your coverage amount and policy type to see if it’s still right for you. If it’s the right time for a change, you could get a new policy with lower rates or more comprehensive coverage.

Comparing multiple insurance quotes can save you hundreds of dollars a year. And it’s easy to get a free quote within minutes on Credible.

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert column.


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The cheapest auto insurance rates since 2014

3. Multi-car policies can save you or cost you £ 100 per year

Multi-car policies cover, well, multiple cars at one address. Results vary …

Kam (via Facebook) was pro: “I saved £ 500 by sticking my car and my wife’s car to a multi-car police.”

Peter (by e-mail) was anti: “The multi-car insurer wanted £ 1,600 for three cars. We got 3 separate policies, for £ 720.”

The problem here is with renewal quotes driving up the cost. Martin’s rule of thumb is therefore simple: if you’ve purchased a multi-car policy, check separate policies to see if you can save; if you are separated, check multicar.

– There are three pure multi-car fonts (i.e. one font with multiple cars):
Comparison sites can only compare one car at a time. Therefore, if you want to compare multi-car policies, you have to do it manually. The three to try are Admiral MultiCar *, Aviva * and LV *.

– Don’t worry if you have different renewals:
The three providers above allow you to set up a policy when renewing your 1st vehicle, while the other vehicles remain with their current insurer until their renewal. See multi-car fractional renewals.

– Some insurers simply give discounts if you have multiple policies with them (for 2+ cars or 2+ types of insurance):
If you have time for a bit of trial and error – these include More Than * (15% off), Axa * (up to 15%), Esure * (10%), Privilege (varies) and Sheilas wheels * (10%). Meanwhile, Direct Line * and Churchill multi- offerPolitics discount – that is, if you already have home insurance, you get a discount on your new auto insurance policy (and vice versa).


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New auto insurance policy targets low mileage drivers

A new type of auto insurance policy has been launched in response to changing driving habits during the Covid-19 pandemic.

According to auto insurer More Than, two distinct types of motorists have emerged in the past year: low mileage drivers and high mileage drivers. It has launched a new mileage-based system for those who don’t travel very far.

The Low Miler product uses a telematics device to “provide a fairer way to provide auto insurance for those who use their cars less often or travel shorter distances.”

Low Miler customers select a mileage allowance for the year, up to a maximum of 7,000 miles, then receive a device that plugs into an outlet inside the car. It tracks the customer’s mileage, regularly updates it on the distance traveled and allows them to purchase additional miles if needed.

More Than says 17% of UK drivers expect to use their cars less over the next year compared to pre-pandemic levels. His research suggests that drivers will spend more time at home (55%), use online deliveries more (28%), and change their work habits (26%).

Additionally, 24% of UK drivers said they would drive fewer miles to work compared to before the pandemic.

However, 30 percent plan to drive more to visit family and friends, while 28 percent plan to use their car for more day and weekend trips.

“Offer low-mileage drivers a fairer offer”

“The way we drive and use our cars will not be the same for some as we exit this pandemic. With more flexible working arrangements and fewer commutes, some people are likely to drive less, ”said Anthony Aronin, Telematics Manager at More Than.

“That’s why we’re launching More Than Low Miler, an innovative way to tie bonuses to miles driven by customers, giving those who drive fewer miles a fairer deal. “

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How to get cheap auto insurance online in 2021 • Benzinga

If you drive a car or truck in the United States, statistics indicate that you are probably paying too much for insurance. Drivers who don’t shop for insurance end up paying an average of $ 417 more for their insurance each year; that means Americans as a group pay $ 21 billion more in auto insurance than necessary.

When was the last time you got a quote for auto insurance? If you haven’t shopped or talked to your insurance provider in years, or even asked for a lower rate, you’re probably paying more than you should. Here’s how you can find a cheap auto insurance policy online that meets your needs at a lower price.

Auto Insurance Online

If you drive in any of the states in the United States except New Hampshire, you are required to maintain at least some level of auto insurance coverage to protect yourself in the event of an accident. Having auto insurance is essential because it protects you from financial ruin if you are involved in a collision and have to pay for the necessary repairs or if you are responsible for the injuries of another driver if you are involved in an accident.

Here are the three most common types of insurance plans:

Liability insurance: Liability insurance protects you in the event that you are responsible for a collision. It covers the medical costs and auto repair bills of the other driver (s) involved in the accident. It will not cover any medical or auto repair costs you incur. Liability insurance is considered the minimum coverage necessary to keep you legally on the road in most states; other types of insurance are recommended and can often be combined with your liability insurance or at a lower rate, but are not required by law.

Collision insurance: Collision insurance covers your car in the event of an accident. Collision insurance typically includes damage resulting from collisions with other vehicles as well as collisions involving stationary objects and property such as streetlights or letterboxes.

Back to back insurance : Comprehensive insurance (as the name suggests) provides stronger coverage than liability or collision insurance. Comprehensive insurance coverage provides compensation to repair damage to the vehicle if the car or truck is damaged in any way other than an accident with another driver.

Some of the more common full insurance claims include damage resulting from wildlife, fires, break-ins, vandalism, mother nature, and even riots. Before purchasing a full policy, be sure to read the risks covered. Most policies exclude damage caused by nuclear accidents, acts resulting from war and damage caused intentionally by the insured.

Car insurance supplements

Medical payment coverage: Medical coverage covers your medical bills if you are involved in an accident. If you don’t have health insurance, you may want to consider adding medical coverage to your insurance policy.

Coverage for uninsured motorists: Uninsured Motorist Coverage protects you in the event that you are involved in an accident with a driver who is on the road illegally without insurance or who does not have sufficient coverage that will not cover all of your medical bills. and auto repair.

Rental Car Coverage: Rental car coverage covers the cost of a rental vehicle in the event of an accident to your car. It pays for a rental car while your car is being repaired.

Roadside assistance: Roadside assistance coverage provides compensation for items such as emergency towing costs, breakdown costs, and battery starts.

How To Get Cheap Auto Insurance Online

Follow these steps to lower your premium.

Step 1: Shop around for quotes

Most people end up overpaying for their auto insurance policies because they don’t bother to search for quotes on a regular basis. Each auto insurance provider uses their own unique formula to determine how much you’ll pay in premiums, which means it’s possible to get the exact same coverage from seven different providers at seven different price points.

You are generally eligible for lower auto insurance rates the safer you are on the road, as most premiums are calculated using your age and driving record as the primary factors.

If you haven’t gotten a car insurance quote for a while, collect at least three quotes from your insurer’s competitors. Most auto insurance companies now allow you to request a quote online or over the phone without the need for an in-person visit. Some even offer online quote estimating tools that will instantly tell you how much you can expect to pay each year.

The best auto insurance providers will tell you how your premium is calculated, and they can even offer advice on what you can do to get a lower rate, such as bundling your home and auto insurance or installing an aftermarket anti-theft device. your self. The more quotes you can find, the more likely you are to find the lowest available rate.

Step 2: Think About How You Can Lower Your Rate

Taking steps to lower your auto insurance rates can help you get a lower quote from insurance companies. Here are some steps you can take to lower your rate:

Increase your credit score: Most drivers aren’t happy with it, but auto insurance companies often use your credit score to determine your rate. Paying your credit card bills on time, keeping a low balance on your cards, and limiting the number of cards you apply can increase your credit score over time, making you a more attractive customer for a lower rate.

Choose a vehicle with a higher safety rating: If you’re shopping for a car right now, consider more than gas mileage and color. Check out crash test data from the Insurance Institute for Highway Safety and consider choosing a vehicle with higher safety ratings to see a lower auto insurance premium.

Request a higher deductible: Your deductible is the amount you are expected to pay before your insurance takes effect after an accident or other incident. Generally, the more you pay your monthly premium, the less you will have to pay for your deductible. Taking a higher deductible can help you get a lower monthly rate.

Want to learn more about how to lower your auto insurance premium? Check out our guide here.

Step 3: Negotiate with your current insurer

Auto insurance companies know that it is much less risky and less expensive to keep an existing driver on their policy than to hire a new one. Call your insurance representative if a competitive auto insurance provider has offered you a lower rate than what you are currently paying.

Most auto insurance providers have a policy in place that allows them to negotiate a lower rate for customers who have purchased their policy without incident for a number of months. Many insurers try to do everything in their power to continue paying their customers, including matching or beating a competitor’s prices.

Step 4: Change your policy

If you are unable to strike a deal with your current insurer, you may want to switch to the more affordable provider. Contact your new insurance provider online and explain to them that you are ready to make the switch. Your new insurance agent will walk you through the details of starting your new coverage.

After purchasing your new policy, call your current insurance company and explain that you want to cancel your coverage. Find out about the fees that will be applied to your account for canceling your policy mid-term, and have a representative send you written confirmation that your coverage has been canceled by email or registered mail.

Don’t cancel your insurance until you’ve chosen another provider – otherwise, you could end up with a dangerous and illegal coverage gap.

Step 5: Drive safely

Obviously, you want to stay alert and aware on the road at all times. However, most auto insurance policies include a disclaimer that allows them to easily remove you from coverage if you are involved in an accident within 30 days of signing up. Drive especially carefully at the start of your policy.

Make the decision

You don’t want to know that you are paying too much for your auto insurance policy. However, cheap auto insurance policies often cost less than competing policies because they limit your coverage. Choosing the wrong policy can put you at risk in an emergency. Before signing a policy, make sure you read and understand exactly what your policy protects you against and what it does not protect you against.

The last thing you want when purchasing your auto insurance policy is to hit an animal on the road, only to find that your new policy does not cover deer accidents when you submit a claim.

You want to know more ? Check out Benzinga’s guides on the best cheap auto insurance companies, the best high risk auto insurance companies, and the best term auto insurance providers.


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Thousands of key workers warned of auto insurance policy changes next week

Thousands of key workers have received a reminder about their auto insurance policy if they relaxed it during the pandemic.

Temporary measures were introduced last March to make it easier for key workers to get to work during the lockdown.

The added support meant that people, such as caregivers, who had to use their own cars to work or travel to different places to work and for volunteer purposes, would automatically see their insurance extended to include these tasks.

It also meant that policyholders did not have to contact their insurer themselves to update their documents or extend their policy.

However, the Association of British Insurers (ABI) has confirmed that the temporary measures put in place to support motorists over the past year will end on April 30.

The ABI has revised its position and issued updated guidelines as restrictions continue to ease in England, on Mirror reports.

As of April 30, if you use your car for work or to commute to work, you will need to let your insurer know to make sure your policy includes it.

Most insurers will continue to support drivers using their own cars on a voluntary basis at no additional cost.

Ryan Fulthorpe, automotive expert at GoCompare, said: “To reflect changes in driving behavior as commuting and driving between different workplaces begins to accelerate, insurers have reconsidered their position.

“From May, drivers who have insured their cars only for social, domestic or pleasure purposes, but following the pandemic now use their cars to get to work, will have to upgrade their coverage.”

He added: “Following the end of insurers’ commitments to automatically extend coverage during lockdown, it is critical that drivers make sure their auto insurance covers them for their new normal use.

“If a motorist does not declare that he is going to work or driving for work, it could invalidate his insurance and driving without insurance carries heavy penalties.”

“So if you’ve started driving to and from work since the pandemic and aren’t sure if you’re covered, the best thing to do is to contact your insurer immediately so that your policy can be updated if necessary. . “


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Auto insurance prices drop the most in seven years

Auto insurance costs have fallen the biggest drop in seven years due to drivers spending less time behind the wheel, new figures show.

Average UK premiums between January and March were £ 87 lower than the same period in 2020, according to price comparison website Confused.com.

This is the largest annual decrease from the 12 months to the first quarter of 2014.

The firm said the latest figures reflect the reduced level of risk on the road, with a survey of 2,000 motorists indicating that the average annual mileage fell from 7,239 to 4,113 during the virus crisis.

The survey suggested that not all motorists get cheaper insurance, with 45% of those who received their renewal quotes in the past three months saw the price increase by £ 45 on average.

Almost half of this group (48%) chose to stay with their current insurer, despite rising costs.

Confused.com CEO Louise O’Shea said: “It has been just over a year since we first went into lockdown and it has triggered many changes in the way we use our cars.

“And it’s a change that might be here to stay for the foreseeable future, so it just seems fair that our auto insurance costs are cheaper to reflect that.

“What we’re seeing is the biggest drop in prices in almost six years. But it’s important to remember that these lower prices only benefit those who shop.


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