10 QUESTIONS TO ASK WHEN BUYING YOUR CAR INSURANCE

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.

[Source: http://www.theaa.ie/blog/10-questions-to-ask-when-buying-your-car-insurance/]

Ultimate Guide to Cheap Car Insurance

As you may know that you have the chance to choose your car insurance from three types of cover. They are the comprehensive insurance cover, the third part insurance and third party fire and theft insurance. The car insurance UK offers you those three wraps with their own conditions. You can choose any one you need among those.

It is the rule almost in every place that a car has a proper insurance and life of the driver insured. With insurance a driver can at least get the claims in case of any accident and damage of property. The geographical location is not at all a factor for getting insurance quotes that each company provides.

There are different companies and websites offering Car Insurance Quotes. These companies in their website tries to provide information regarding the availability of various insurance policies in the market today and along with it also tries to inform the customers the process of shopping, saving and comparing the Cheap  Car Insurance Quotes.

By comparing the rates of each and every insurer, their features and their coverage, one can avail the best car insurance policy. There are licensed insurers and agents to help the customers with several quotes available online which is quite simple.

It has become very helpful for a customer now to save money and time due to the availability of the insurance quotes online and the process of quoting getting easier. A customer has to fill a simple quote form and give details regarding the customer himself including his date of birth, history of his license and accidents if any; details of his car like the model, year of purchase and price of the car along with his zip code.

The car insurance company will immediately give free quotes followed by which the customer can choose a suitable policy, low in rate and in the process save maximum. 

A customer can give his quote which will be kept secured by the company so that if not possible immediately to buy an insurance policy, he can purchase it later on according to his wish. The companies try to give benefits to both its old and new customers.

Some companies offer high discount rates to its customers like in the first year a customer for buying the policy can get a discount of ten percent followed by a twenty percent discount on the second year unless the customer makes any claims.

Car Insurance Quotes are provided only to individuals and not to any business organizations. Therefore customers must always be sure of providing the correct information about themselves and their car so that anyone else does not grab the benefits which he himself would have enjoyed. They must learn to understand the quotes and rush for it.

[Source: http://gomarketcompare.co.uk/blog/ultimate-guide-to-cheap-car-insurance/]

GET CAR INSURANCE QUOTES TO SAVE MONEY

Car insurance is a sad reality for all drivers in the United States . Most U.S. states require car insurance to drive a vehicle . In addition, most lenders require that you have car insurance before driving off the lot . Although insurance is an expense that is for sure , you will find that there are ways to save money.

car insurance quotes can be used to help you find the lowest price on your auto insurance , but you need to know how to go about getting them.

Best online quote " While you can certainly call around to local insurance agents and agencies in your area to get car insurance quotes , you can do the same thing online . Generally , get a quote online is a wise choice on calling companies on the phone.

Moreover, it will allow you to do the trick, while spending less time on each option. most major insurance companies offer a quote form online you will capture your important information and get a quote by email or on the site right .

Shop Around " When shopping for auto insurance, it is essential that you shop. Comparing quotes from different companies is very important to find a car insurance quote , you need to save money while protecting your investment .

It is recommended that you compare at least four different car insurance companies to find the right coverage and price for your needs . However, if you can not compare more than this amount , do so.

"Combining auto insurance policy " is a type of insurance that most people need in the modern world . However, you can save money on all your insurance if you combine them with a single supplier insurance . in most cases, insurance companies will give you the best price on car insurance , home insurance , life insurance and other forms of protection when you use their services for all your needs.

Compare Type Cover " Finally, when obtaining auto insurance quotes , it is important that you compare different types of coverage . You will find that different companies offer different types of protection , even based on the same type of policy. various types of coverage comes at different prices . by adjusting your protection , you can maximize your savings while ensuring your car.

[Source:http://convectivenorth.blogspot.in/2013/12/get-car-insurance-quotes-to-save-money.html]

Car Insurance Terms You Must Know

This is your Car Insurance Dictionary

Most of us get Car Insurance for our vehicles only because it’s a necessity, right? You can’t have a car on the road without insurance (unless you want the police waving you down).

All right, so you got your Car Insurance. Soon you find you need to make a claim on your policy and you leaf through those Insurance documents. But wait, what are all those terms listed there? “Third-party cover”? This car is mine and only mine, right?

Don’t look so confused. We’ll help you decode the most popular Car Insurance terms. Read our Car Insurance dictionary.

Insured Declared Value

Insured Declared Value (IDV) is the current market value of your car. This is the maximum sum payable by the insurer for your Car Insurance policy. In case your car is totally damaged or stolen, the IDV is the maximum amount you can claim from the insurer.

When you buy or renew your Car Insurance policy, do not quote an IDV that is lower than the market value of your car. If you do, you will get inadequate compensation for the loss or damage to your vehicle.

Own Damage Premium

This is the premium that you pay to get insurance cover on your car. Own Damage Premium (ODP) insures your car against any loss caused by events outside your control. Earthquake, fire, tsunami? With Own Damage Premium, you’re secured.

Remember that the ODP varies according to the model, cubic capacity and geographic zones of your vehicle. You must ask your insurer about this.

Zero Depreciation Cover

With Zero Depreciation Cover, the insurer waives off the depreciation on replaced parts in your car. This gives you a higher claim amount.

No Claim Bonus

A No Claim Bonus (NCB) is the discount you will get if you do not make a claim on your insurance for a year. The No Claim Bonus lowers the insurance premium that you need to pay when you renew your policy.

If you are getting a new car, did you know you can transfer your No Claim Bonus?

Third-Party Cover

A Third-Party Cover protects the vehicle owner against any financial liabilities that could occur as a result of death, physical injury or damage to property of a third party.

A victim can file a third-party cover claim against the vehicle owner and the insurer will pay for the claim on behalf of the vehicle owner.

Third-Party Cover is mandatory as per Indian Law, so make sure you get this included in your policy.

Personal Accident Cover

Personal Accident Cover financially protects you against unforeseen events such as Accidental Death or Permanent Total Disability from a road accident.

Not every Car Insurance policy includes Personal Accident Cover so it is important that you find one that does.

Next time you’re buying or renewing your Car Insurance policy, don’t have a blank look on your face when you read those papers. We hope this was helpful.

[Source: https://blog.bankbazaar.com/car-insurance-terms-you-must-know/]

Cheapest Car Insurance

How Is The Car Insurance Premium Calculated In India?

Car insurance in India is mandatory for every vehicle, which is running on the roads. Generally, all new cars arrive with an auto insurance policy, which is valid for about a year and then needs to be renewed. 

There are a number of government and private firms in the nation that deal in auto insurance for each and every model. All the buyers of the nation are aware of the fact that after

availing an auto insurance policy, they have to deposit a certain amount of premium each year. This car insurance premium ensures that the policy is continued without any problems. However, most of the people will be unaware on what basis is this premium calculated by the concerned insurer.

There are basically two types of car insurance in India – a third party insurance and a comprehensive package. Former covers damages for a third party, which has undergone injuries in case of any collision, while latter is dedicated to covering damages for the insured vehicle as well as the liability (third party).

The premium for car insurance in India is calculated on the basis of Insured Declared Value (IDV) of the specific model, No Claim Bonus (NCB) and any other discount/offer included in the scheme. Interestingly, all these 3 factors are used to calculate the comprehensive premium/package and are not applicable for the liability or third party. The Insurance Regulatory and Development Authority (IRDA) decide the insurance premium for liability and may change it accordingly.

To calculate the car insurance premium, first the IDV of the model is examined by the insurer. The IDV is based on the ex-showroom of the car and changes annually as per the depreciation rate of a certain model. This depreciation rate for cars is as follows:

·         5 percent for a car not exceeding 6 months

·         15 percent for a car exceeding 6 months but less than 1 year old

·         20 percent for a car exceeding 1 year but less than 2 years old

·         30 percent for a car exceeding 2 years but less than 3 years old

·         40 percent for a car exceeding 3 years but less than 4 years old

·         50 percent for a car exceeding 4 years but less than 5 years old

For the used cars, which have exceeded 5 years, the insurance premium is calculated on a mutual consent between the insured and the insurer. After calculating the IDV, the NCB of the car is calculated on the basis of claims made by the insured person in the previous year.

A person is entitled to a No Claim Bonus if he/she has not made any single claim in the previous year of the auto insurance policy. In case, the NCB gets accumulated for more than a year, chances are that a person might avail a staggering 50 percent discount on the overall premium amount.

There are also few other discounts and offers an insured buyer is entitled to apart from the NCB. These benefits are given to a car owner in case he/she integrates the vehicle with an anti-theft device or obtains a membership of Automobile Association of India (AAI) or opts for a voluntary deductible.

Also, if there are any additional accessories in the car that are not involved in the selling price or catalogue of the manufacturer, the premium of such features will be calculated separately. After maintaining and calculating all these records, the car insurance premium for each model gets generated every year.

[Source: http://www.cartrade.com/blog/2014/car-finance/how-is-the-car-insurance-premium-calculated-in-india-665.html]

Car Insurance In India And Policy Types

While opting for car insurance in India, people might come across a problem of deciding among the best options. With a constant elevation in the Indian automotive industry, there have been a considerable number of schemes and policies launched by the concerned insurance unions. A car insurance policy covers the expenses of the damages or the theft in accordance with the type of scheme opted by an individual. As per the rules and regulations of the Indian government, car insurance policy is mandatory for every model, be it new or used. Such a policy at least ensures to cover the minimum damage, which can be caused to one's own car or other vehicles in case of 

collision. In general, there are two types of car insurance in India that can be summarised as follows:

1.       Liability Only Policy or Third-party Insurance: This type of car insurance policy covers the damages occurred to a third-party in any adverse condition. It is mandatory as per the Indian law for every vehicle to have a third-party insurance policy so as to at least cover the expenses of injuries caused by one's car to another person or vehicle. In this policy, the premium is calculated on the basis of the engine capacity of the car an individual drives. Since there are only third-party damage cover in the policy, therefore, its premium amounts to much less as against the full coverage policy.

2.       Package Policy or Comprehensive Insurance: This type of car insurance policy completely differentiates from the third-party insurance, and covers the damage expensed caused to others as well as the vehicle owner. The damage covers and medical expenditure in case of an unexpected occurrence are covered in this policy for both the parties.

3.       Furthermore, the exclusivity of this policy is that it also covers the damages caused to one's vehicle in case of a natural calamity. The premium in this type of insurance is calculated according to the insured value of a person's automobile. Since, the expenses covered are for both the parties, the premium of this type of policy is generally high.

In case a person opts for new models, he/she would like to opt for car finance as well as insurance instantly so as to prevent the excess money being shed from their pocket. New cars these days are available with lucrative insurance scheme but people are always in a bid to reduce their premium. To do the same, they can decide on the following aspects before choosing an insurance plan:

·         In case people buying new cars decide to get them financed, then they should first analyse their expenses to know if they are able to pay extra premium or a minimum amount for the insurance.

·          

·         Depending upon the types of situation people want their insurance to cover, they can get the policies customised as per their convenience. Most of the people tend to go for all-coverage package, which includes medical expenses and the range of damages, which can occur to both parties.

The all-coverage package is beneficial but might also include unnecessary damages to new cars, such as the features and accessories of a vehicle. In such cases, people might have to deal with extra amount of premium getting from their pockets. 

Comprehensive car insurance in India might result in lower premiums after a while as any vehicle depreciates after a certain period of time. The third-party policy, on the other hand, will not be affected as the engine of new models as well as used cars will always remain the same.

[Source: http://www.cartrade.com/blog/2014/car-finance/car-insurance-in-india-and-policy-types-644.html]