Firstly, we need to clearly define the phrase “best car insurance” for us to come to satisfactory understanding of an insurance field. There is no definite automobile insurance policy that fits everybody’s circumstances spot on. Insurance companies weigh different individual’s factors before they arrive to a suitable price and policy.
It is not always safe to rate a car insurance policy quotation according to cheap monthly or yearly premium only. It may look cheap on paper but only to find that there are hidden costs involved when it comes to an accident or theft claim. At times you find that the premiums would be cheap and only to find that when it comes to claiming for damages, the excess expected from you would be very high.
Types of car insurance policies
There are two standard types of car insurances to consider first. One is known as comprehensive car insurance. This replaces a stolen car as well repair its damages. This can be pricey. The second one is the balance of third party. This pays in cases of fire and third party claims only. The former is suitable for newer models of cars that have high replacement value on them. While the latter is suitable for older models of cars that have their values depreciated tremendously.
The best car insurance policy is that which is tailored to your specific needs and circumstances, offering you best value for money. Read on for a few things to consider. Other fundamentals that are weighed by Insurance Companies
* Insurance companies take into consideration the demographics of the prospective car insurance policy applicant. If you stay in a high risk area, you will tend to contribute more towards your premiums. They will unfortunately not pre-list these areas prior to ones application.
* The age of the driver also plays an important role. Younger drivers are alleged to be prone to accident claims. The middle aged are considered to be safe drivers. Lady drivers sometimes fall under the latter category. The aged pay the cheapest premiums of them all.
* A one car driver will pay less premiums than more drivers you add to your policy. As a result, the more expensive it will become. But sometimes it is unavoidable to be a one car driver and if you include additional drivers, then you may wish to take out comprehensive insurance. If you can avoid adding drivers who will only be using your car infrequently then you will make large savings.
* A car owner who utilizes his car for income purposes will pay higher premiums than a retired car owner. Be careful to disclose full car usage intentions in your application to avoid unnecessary future disappointments.
* Also, if you are experienced and have a clear driving record, with no claims bonus, your premium should be relatively low. This may mean you are able to afford a higher level of cover, such as fully comprehensive. It is worth remembering that individual insurers offer different options on their comprehensive cover. If there is something specific you would like covered, then you should inquire with the insurer you choose after using our comparison service.
What is a no claims bonus?
The best car insurance company is the one that compensate good drivers. This is termed as a no claim bonus. Your car insurance policy will accumulate some cash back on every anniversary, provided you did not claim. The more no claims bonus you and your additional drivers have, the greater the discount you will get on your car insurance premium. The principle behind this concept is motivating drivers to drive safely on the roads.
What does our site offer?
Before you put down your million dollar signature on any car policy, shop around online for the best car insurance that will suit your pocket. We have fortunately done a lot of spade work for you and did extensive comparisons of available car insurances online.