With motor insurance premiums on the rise, it has never been more important to make sure you’re getting the best value quote that’s fit for purpose. Here are our top ten questions to ask to make sure you get the best deal on your car insurance.
1. What cover is included in the quote?
We always advise motorists to do their homework before signing on the bottom line, which means shopping around for the best deal. When getting quotes from different motor providers, ensure you’re comparing like-with-like. Have your renewal notice to hand so you can dissect the quotes and check the levels of cover. It’s important to be fully informed about the type of cover, or you could find yourself out of pocket in the event of a claim.
2. What optional extras are included in my price?
Only buy what you need. Remember, insurance providers are obliged to tell you about any optional extras or add-ons to your policy. If you don’t require these you have the right to decline.
Does your quote include bonus protection? If you feel this is something you don’t need, request for the cover to be removed – after all, it may save you up to 10 percent on your motor insurance premium.
3. My partner has their own car – do I get a discount for this?
According to a CSO survey conducted in 2011, about 42 percent of Irish households have two or more cars. A number of insurers provide a discount if your spouse or partner also has their own car. Make sure you tell your car insurance provider if this is the case in your household to help you save on your premium. Adding a second family car to your policy will certainly help you save money on your motor insurance premium.
4. Would adding my spouse / partner to the policy reduce my price?
Some motorists are unaware that they could bag themselves a further discount by adding their spouse or partner to their motor insurance policy – just make sure they have a clean driving record before doing so. Some insurance providers offer a discount of up to 20 percent just for adding your spouse or partner, so it is certainly worth inquiring.
5. Should I haggle?
Some people may associate haggling as a thing of the past or something you might do in a market whilst on holiday. However, there is nothing wrong with asking for a discount from a provider to ensure you get the most competitive deal. Don’t be afraid to inform them that you’ve shopped around – feel free to tell them the quotes you’ve obtained and ask them if they can offer a better deal.
6. Would increasing my excess give me a discount?
An excess is the amount of money you have to pay in the event of a claim. Most insurance providers offer discounts if you agree to increase this amount. In theory this can seem like a tempting option as it may reduce your overall premium. Bear in mind, though, that excesses can reach as high as €500 per claim and more for inexperienced drivers and selecting a voluntary excess will increase the amount you have to pay even further.
7. What are my payment options?
There are a couple of payment options that are available to you: an annual lump sum or monthly direct debit. Paying by monthly direct debit is the most common option because it is a convenient way of spreading the total bill over a number of months. However, some people are unaware that insurance providers can charge an additional fee of anything between six and eight percent.
8. Are there any loyalty discounts?
A lot of us require more than one insurance product these days and most providers, including ourselves, offer multi-product discounts so don’t forget to ask what’s available. The AA offers all of its home insurance customers 5 percent off the cost of their motor insurance premiums.
9. How long is my quote guaranteed?
Quote guarantee periods can range from 1 to 30 days which is why it is important to ask the provider when your quotation expires. With the recent increase in the cost of motor premiums it may prompt you to jump at the opportunity of securing your bargain there and then.
.. .. .Can I get a cheaper price online?
Plenty of motor insurance providers offer online discounts, nowadays. It’s always worthwhile to surf the internet in search of a possible price reduction – The AA offers a €40 discount when you purchase your car insurance online.