Posted: 11 January 2018
It’s that time of year again, time to get your papers together and renew your car insurance.
Maybe you’ve been with the same company for many years and just let it automatically renew.
But does that mean you’re getting the best deal?
Many drivers are facing high charges, just to roll over their existing policy. Being a loyal customer of your insurance provider doesn’t seem to give you any benefit.
So maybe it’s time to find something new.
But how do you go about renewing car insurance?
Read on to find out.
A Guide to Renewing Car Insurance
Starting a fresh policy or sticking with your current one could save you mega bucks. You can keep yourself and your family safe without breaking the bank.
So make sure to do your homework. These next few tips will help you make an informed decision.
Be in the Know
Do you know what kinds of car insurance are available and what’s best for you?
If you have even a small knowledge of these things, then you will be able to make a better decision.
The main types of insurance are:
Liability insurance (This is the minimum coverage that is required by law)
This covers any bodily injuries incurred by the other person or damage to property (if you cause the accident).
This covers damage to your vehicle from fire, natural disasters, theft and more. It can help compensate for the damage to your vehicle, or even to replace it.
If you’re involved in an accident with another vehicle or collide with somebodies property. This can help pay the damage to both vehicles or replace it according to the damage incurred.
Personal injury protection or medical payments (This is required in some states, in other states it is optional)
If you or your passengers are harmed, these policies will help pay for any medical costs resulting from the accident. They may also help pay any extra costs due to the accident, including childcare or loss of income.
Uninsured or underinsured motorist coverage (This is required in some states, in other states it is optional)
If an uninsured driver hits you, this coverage may help to pay for any repairs or medical bills.
Please note the details of each insurance policy are different, so they may or may not provide certain features mentioned above. Please be sure to check with your insurance provider for more details.
Review Your Current Policy
Before you try to find a new insurance provider, you should first review your current policy.
One of the best things to do is to actually talk to someone about it. So get on the phone, contact one of their agents and discuss any questions or queries you may have regarding renewing your car insurance.
Does it automatically renew? Will you be charged for cancellation? Anything you might be unsure of now’s the time to ask.
And don’t be shy, they need to give you a reason to stay. So be bold and ask them what discount they can give you.
If they really want you to stay, they can afford to be flexible.
Ok, so they’ve given you a quote. But that’s not the end of your journey. Now’s the time to check other options.
Use a Comparison Website
Instead of searching through countless websites of various insurance companies, use a price comparison website.
You will need to have all of these details on hand:
- Your car registration number
- Car make and model
- The age of the car
- The estimated value
- A list of any modifications
- Information about you and the other named drivers you want to add
- No claims discount (you can ask for this from your current insurer)
Be totally honest when entering your details, especially regarding any accidents or claims you previously made. Even if it wasn’t your fault.
They do their research too and will find out. Then you could be left with a hefty addition to your bill.
Make sure to have all the details entered correctly. If you make a mistake and figure it out after you’ve committed to an insurance policy, you will most likely be charged to make any changes.
Yes, they will charge you for almost anything!
Once you have entered your details you will get a nice long list, ranging from the cheapest to the downright expensive.
You can now compare the different policies and prices without having to enter your information on several different websites.
Picking the Right Company
Going for the cheapest option may seem tempting. But you must make sure they provide everything you need.
Check out the company too. Do they have a good reputation? Check out their ratings.
Find out how long they’ve been in business. An older established company may offer more professional services.
Talk to Someone Before Committing
Before you agree to anything, be sure to have a chat with one of their agents. Even if you don’t have any pressing questions.
Why? You might qualify for some kind of extra discount based on your driving history, job or personal situation.
And you know we all love discounts and deals!
To list a few examples:
- You’re a claim-free driver
- You qualify for student discount
- You have a low-risk occupation
- You had extra driver training (e.g. defensive driving course)
- Your car has an anti-theft device or airbags
- You want to insure more than one car
- You own a home
- And many more…
Chatting with one of their agents is also a great test to check their customer service skills.
If it’s hard to get hold of someone on the phone, or they don’t seem very helpful, then you know they won’t be much good in a crisis.
Should You Stay or Should You Go?
After doing your research. You should have found the best deal.
If you have decided to stay with your current provider, be sure to make your payment on time. If you don’t, you could be charged.
Or if your insurance company doesn’t automatically renew, you could be driving uninsured without even realizing it!
If you have decided to go for something new, double check they have all the correct details before signing the agreement.
But if this all seems a bit too much, seek help from a professional. Qualified brokers or agents can do most of the work for you, and find you the best deal.
It comes at a price. But you can be left with peace of mind, knowing that a professional is conducting a thorough search on what’s the best policy for you.
Updating Your Motor?
Are you looking for a new car? Maybe not a brand new car, but a used car.
Check out this site to find some great deals on used cars.
Ready, Set, Go!
So have you got everything you need for renewing your car insurance?
It’s not the easiest of tasks, but if you do your homework, you can find the right deal for you.
We hope this guide will help you to make the right decision when renewing your car insurance.
Read our blog for more awesome life hacks!