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5 Things You Need To Know Before You Buy Car Insurance

January 27, 2018 Insurance No Comments Email Email

Over the past few years, car insurance has rocketed for a first-time driver. The cost of insurance rising is one of the biggest reasons people are put off from learning to drive. The one thing that people want is the freedom to drive, but when insurance costs are high it can make it feel impossible. Did you know that the questions that you answer when applying for insurance could easily put your quote up? No, most people don’t know either – you’re not alone!

Learning to drive can feel like a privilege. You don’t just pay for the car. You pay for tax on the roads, regular MOT and checks, gas, detailing – the list feels endless. You have to add insurance and the reason for that is that it is illegal not to have insurance if you are driving. It’s as simple as that. You’ll need far more than a car accident lawyer if you stupidly take the risk and drive without insurance and get into a wreck. To avoid paying through the roof for insurance and get your costs down to a manageable level, there are a few things that you should know so that you get the cover that you need at a good price. Here they are:

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Excess. When you are applying for insurance you are asked what excess you can afford. You can increase your voluntary excess to bring the cost of the premium down, but don’t forget that if you need to make a claim, that’s the excess that you will pay to the insurer.

Mileage. As near as possible you should input the mileage you will actually be driving. By overestimating the miles, you could cost yourself more money! There is no reason to pay more if you don’t have to!

Reason? You get asked what your car will be used for: business or leisure. Now, when you use your car to get to work, that’s simply commuting. You could easily end up having to insure your car for business use if you also use it for meetings and other business trips.

Annual. If you choose to pay for your insurance per month, you could end up paying far more than the annual cost due to interest. Paying monthly may be more manageable at the beginning, but if you can pay the annual cost of insurance up front you’ll pay less overall.

Modifications. Did you know that you have to declare modifications to your insurer? Those new car rims may look great, but you need to let your insurer know as any mods could affect the claim. It isn’t nice, but don’t be stupid and hide the changes from your insurer as this could invalidate your claim in the event of an accident.

Insurance is not an easy expense, but it’s one that you should plan for and budget for when you buy a car. Always shop around for a good quote and get reviews about different insurers from people you know. Insure smart, and you can’t lose.

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