No matter what you are buying, be it a car, clothing, food or motor insurance, you will always want to get the best your money can buy. So what is the secret to getting the most value for money with motor insurance?
As with everything else, the best way to find a good deal is to shop around. Do not take the first quote that comes your way. You need to get quotes from a number of different motor insurance companies and compare them to find hte best possible policy. Because of hte great variation in how insurance companies work, you are bound to find a deal that is better than the others.
Do not be concerned about changing insurance providers. There is no limit on how many times you change insurers, the only thing is to make sure you do not end up paying more or having to wait before becoming reinsured as some companies have an obligatory waiting period during which you are not allowed to make claims.
Choose the types of motor insurance that you need, not what the insurance company would like you to have. There are three basic types of motor insurance to choose from:
The most basic is third party cover. This is to cover you against claims made by someone else for damages caused by you and your car.
In order to make this a little more comprehensive, without going the whole hog, you can also add fire and theft cover to protect your car from damage caused by fire or theft or attempted theft.
The most complete cover is comprehensive motor insurance. This covers everything that third party and fire and theft covers as well as the damages an accident causes to your car. Some plans can be tailored to cover you when you drive a friend’s car and their insurance will not cover you. You can also sometimes elect to have a courtesy car given to you to drive should your car need to go in for repairs after an accident so that you are not left without transport. This is very useful in a country where the transport infrastructure is not the greatest or very reliable.
Obviously, the more cover you opt for, the more it is going to cost you each month. Ideally the insurance company would like you to take out full comprehensive cover with all the bells and whistles for a huge sports car, but not everyone needs that kind of cover. The older your car, the less worthwhile it is to have comprehensive cover. It may end up being cheaper to replace the car than to repair it and third party cover can be modified to cover replacement of the car if it is written off. Of course, if you have a Porsche or BMW that is worth more than your house, it is a very good idea to make sure you are covered for every eventuality since there is no way that the average person would be able to pay for the repairs to a vehicle like this.
The level of motor insurance you opt for is p to you, not the insurance company, remember that!
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