How to Switch Your Insurance
How to switch your car insurance
The old age saying that time flies really is true, a whole year has passed your car insurance renewal has just landed in your inbox.
As we all lead such busy lives it’s incredibly easy to just accept and pay this renewal – one less thing to think about until next year. However in our very busy lives the average person spends 1000 hours a year surfing the net, 1500 hours watching TV and 724 hours on the phone so isn’t it time you used some of those hours to grab yourself a great insurance deal?
Here are some handy tips to help you along the way.
When to switch
Renewal is the perfect time for many for a number of reasons. Firstly, waiting until your current policy term expires will negate the issue of mid-term cancellation fees and pro rata refunds so it should make it an easier process. Also the very fact that you’ve received your renewal notice means that your insurance is likely to be at the forefront of your mind and you’re armed with all the relevant info needed when obtaining comparative quotes.
Still, in saying that, there’s nothing stopping you from switching before your policy renews. If your circumstances change for example then it’s worth reassessing your insurance. Let’s say you now walk to work or work from home, there are some insurers out there that will reward this with attractive discounts and if the savings are there to be made why wait until renewal?
There are so many insurers out there and many of them offer different levels of cover so do your research to find out about them. Surely during the 1500 hours of TV watching you noticed a few of their ads so put those hours, along with some of the 1000 internet surfing hours, to shortlist a few to call and find out exactly what they offer and what it costs.
Tailor the policy to meet your needs
Write a list of what’s important to you; it’s not always just about price, for example if you’re a one car family a hire car may be a must.
Find out about the extra and optional covers the insurers on your short list offer. Some companies cover the contents inside your car, provide roadside assistance and hire car as standard or give you the option to purchase additional covers to enhance your insurance.
Then there’s the premium. How do you like to pay for your insurance? Some companies allow you to spread the cost and pay monthly, and others may offer a discount if you pay the annual amount in a one off lump sum.
Finally, remember to consider the excess. How flexible are different insurers when it comes to selecting an excess. Are you able to select an excess amount that works for you? If you are you’ll find that selecting a higher excess will lead to savings on your premium. Also are you or one of the car’s drivers under 25? Some companies may have what seems like an attractive premium however you may be hit with a large excess when you need to claim.
|Covered Optional cover Not covered||Comprehensive||Third Party
Fire and Theft
|Immediate Replacement Car|
|Emergency Accommodation, Transport and Repairs|
|Contents Inside the Car|
|Storm or Flood|
|Additions to the Car:|
|Hire Car Following Theft|
|Hire Car Following Not at Fault Accident|
|Hire Car for Other Insured Events|
|Tools of Trade|
|Choice of Repairer|