Friday, May 24, 2024

5 Key Things to Look for When Comparing Car Insurance Companies

The average cost of car insurance can feel like a significant amount. Prices vary on age, your postcode, the type of car you drive, and the expected costs of repairs or replacement. When you start comparing car insurance companies, here are some things you should look for to make a well-informed decision.

1. Easy Quoting Process

People don’t like to spend unnecessary time online, especially when they’re shopping for specific information like car insurance. The quoting process should be easy and user friendly. A website designed for a positive user experience means the company understands consumer needs.

A positive user experience includes an easy quoting process. You’ll need some specific information for every quote, but the rest should be easy if you have the required documentation. You’ll need the car’s registration number, make, model, your job, age, address, the type of licence you have, any claims you’ve made in the past, and your driving history. The list looks more daunting than it is because most of that information can be pulled from what you have available.

Don’t forget to include your no-claims information to get your bonus. If you haven’t filed a claim in years prior, you don’t want to miss out on the discount. Depending on the company, you can get a discount of as much as 65% after five years without claims.

2. Reviews on Customer Experiences

With so many car insurance companies, it can be challenging to know which one to select. To help, read reviews from different companies and don’t fall for loyalty pricing. Research company reputations for ones that offer good experiences and helpful services.

You might think that loyalty pricing means lower premiums, but in some cases, this is the opposite of the truth. Some companies increase premiums every year, so if you don’t check, you’re subject to that pricing without realizing it.

Remember that you can also haggle with insurance companies to reduce the premiums. It’s worth the effort to make sure a reputable company covers you. While some companies may be on the cheaper side, that doesn’t always make them the best option. Some of the cheapest policies end up having unexpected fees attached if you need to make a claim, so it’s essential to read reviews.

3. A Range of Coverage

In the UK, there are three different levels of insurance coverage. They are comprehensive, third party, fire, and theft, and lastly, third party only. Third party only insurance provides the minimum amount of coverage required by law in the UK. Third party, fire, and theft also provides coverage if someone steals your car or it is damaged by fire. Comprehensive insurance covers everything, including damage to you, your passengers, and people in the other car if needed.

Ideally, you want your insurance company to have multiple options of coverage. If they do, it means that they work within different capacities to meet the needs of car owners. Customised options are even better because you can tailor your coverage to meet all of your needs. The best car insurance companies can do that for you, so ask if it’s a possibility.

4. Levels of Excess

Excess is what you are responsible for in the event of a claim. If you agree to pay a higher amount of voluntary excess, then your premiums will be lower. Insurance companies know you won’t make any unnecessary claims when your voluntary excess is so much higher, and so they are willing to lower the rate.

You may want to consider a lower excess and pay more in premiums for insurance from a reputable company like Direct Line because you’ll be sure they have excellent coverage. You also won’t get stuck paying unexpected fees since everything will be covered under a comprehensive policy.

Something else you may want to remember is that cheaper policy providers don’t always have the best service. The costs associated with the level of excess and overall premiums are worth comparing because if you need to file a claim, you quite literally get what you pay

5. Direct to Companies vs. Comparison Sites

There are lots of comparison sites that encourage you to compare the different policies. Theoretically, this is a great idea, but unfortunately, you’ll also see more bad policies. You’ll notice that some of the cheapest insurance companies only offer basic coverage.

The cheapest coverage is typically at the top of comparison sites, but going through with one of those companies will almost always end up with surprise expenses. To check and see what coverage is offered, you should go directly to the company site. If there isn’t an official site, then it would be best to avoid them.

If these companies have a legitimate website, you should also make sure they offer more than basic coverage. Providing more policies reflects the company’s financial health because they would need to pay for claims filed. When in doubt, always go to the main site, verify levels of coverage, read reviews, and then make a final decision.

A Few Last Words

When you compare insurance companies, there are a few things you need to keep an eye out for to make the best decision. An easy quoting process is a good sign, just like positive reviews on customer experiences. You also want to make sure that there is a range of coverage at the company of your choice. Consider the levels of excess you’re willing to pay, and before making your final decision, go directly to the company instead of comparison sites to make the best decision for you.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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