Every year has its own special days: Christmas, Valentine's Day, birthdays, car insurance renewal day... While the latter might seem completely out of place in that list, it's a simple fact that once every year car owners must update their car insurance, and it can often hit their wallet hard. Thankfully, due to the internet, finding the best car insurance quote has been made much easier. However, before you head onto the world wide web, here's a few pointers to get you started.
Make sure to ask yourself a list of this checklist of questions to you're getting the right car insurance cover:
What is the fundamental nature of the policy? Is it comprehensive, third party, fire and theft, or third-party only?
TPO - Third Party Only. Whether you have a brand new car or have recently bought a used car online through a site like Fish4 or EBay, TPO is the basic insurance requirement by law. It usually covers your legal liability for:
injuries to other people
damage to other people's property
accidents caused by your passengers or a driver named on your policy
Third party, fire and theft (TPFT) - provides the same level of cover as third party cover, but protects you against damage to your vehicle from fire, or theft of the vehicle, as long as you're not at fault.
Comprehensive cover
The most complete level of car insurance cover, usually providing cover for:
injuries to other people
damage to other people's property
accidents caused by your passengers or a driver named on your policy
the use of a trailer, while attached to your car
fire damage and/or theft
accidental damage to your own car
medical expenses, up to a stated limit
What is the total policy excess in the event of claims? What about the excess for windscreen claims?
The excess is the amount of money you will have to pay yourself before the insurer contributes for additional repairs. In the case of a low premium the excess is likely to be on the high side. You might find yourself forking out of your own pocket for less expensive type claims such as windscreen repairs that could cost less than a high excess.
How many windscreen claims can I make before it affects my no claims bonus? Can I make an unlimited number of windscreen claims?
Does the insurance cover include legal expenses? You may be able to claim back your uninsured losses from the driver responsible in the event of being in an accident that isn't your fault.
Does the insurance policy include a courtesy car? Is it offered if your car is stolen or written-off as not all comprehensive policies include these by default. Do you have to pay extra to insure the courtesy car?
Is the full car insurance cover extended to driving in Europe for the period I asked for? Most car insurance polices cover overseas cover as standard nowadays, but a few insurers make you pay extra.
Is the no claims bonus protected and how many claims are you allowed under the scheme before your no-claims bonus is affected?
For each year you hold a policy without making a claim you are entitled to a year's no-claims bonus, subject to a maximum (usually up to 5 years). This reward reduces the cost of your car insurance premium for the following year and range from 30% for one claim free year up to 60% or more after four or five years. Also referred to as a no-claims discount (NCD). Clearly you'll want to protect such great savings as much as possible.
For a range of car insurance quotes, take a look at Beatthatquote.com. Meanwhile, The Co-operative bank comes as a recommended individual supplier of car insurance online and is currently offering a 10% discount to internet customers. Whether you're a new driver, or in need of a new policy, it's certainly worth checking out both of these sites on your search.
