First Impressions Don’t Count
Some people may believe in love at first sight, and we’re often told that first impressions last, but when it comes to finding cheap car insurance, having a first, second, third and even fourth look is essential.
In fact, comparing as many different quotes as possible will not only get you the most competitively priced policy, it’ll also give you a better chance of finding exactly the type cover you need.
If you don’t shop around for insurance or just lazily accept the renewal quote from your insurer, chances are you’ll be losing money.
According to a research by Sainsbury’s, motorists who don’t spend the time to compare quotes could collectively end up spending an eye-popping £73m a year more than they need to on their premiums.
This figure includes them buying a premium that is cheaper elsewhere and spending money to make up for shortfalls in their insurance.
About two-and-a-half million car owners were forced to fork out extra cash to replace items such as car keys and child car seats because those things weren’t covered by their insurance.
Is a Courtesy Car Included in Your Insurance?
Another huge expense incurred by drivers who didn’t shop around proved to be courtesy cars. A quick search through a range of different insurers will have told them which policies had a courtesy car included. However, many motorists who just grabbed the first policy they saw ended up having to pay for a ‘courtesy’ car or other form of transport following an accident.
Considering that only 39% of standard policies actually include a courtesy car, it is worth digging around to find cover which will help you in your hour of need.
It was also found that around only 25% of plans included a feature which replaced child car seats in the event of an accident.
Commenting on the findings, the head of Sainsbury’s car insurance Ben Tyte said they showed how important it was, not only for motorists to compare policies, but to do so in a way which would be most beneficial to them.
“When choosing a car insurance provider, it is vital motorists compare policies on a like-for-like basis; looking at price alone could have disastrous consequences,” he said.
“Of course, getting the most competitive price is important we’d always urge motorists to shop around, but they need to make sure that this doesn’t result in a false economy.”
“Those who don’t compare quality of cover and instead opt for the cheapest policy may find that they don’t have many benefits on their cover. Worse still, they might only discover they’re not covered at the time of having a bump or losing their keys for example - it could make for a stressful and costly experience that could have been avoided.”
Motorting Costs on the Rise
With the cost of running and maintaining a car steadily rising, it can always be tempting to cut corners and take out cheaper cover. However, further down the line, this could lead to you making a contribution to that extra £73m motorists are forced to shell out.
Still, that doesn’t mean you can’t make significant savings on your premiums. For younger drivers, there are a number of different discount specifically aimed at them and you can also complete insurer-approved courses which could bring your premiums down.
It’s also wise to get a good idea of precisely what you want to include in your policy. That way, you’ll be able to compare quotes for car insurance along the same criteria and see who offers the best deal.
In the end, it’s all about being prepared. Once you have taken out cover, make sure you study the policy to find out what you are protected for in the event of an accident. Don’t rely on first impressions or you could be left high and dry.