Buying UK car insurance is a big responsibility. You need to buy car insurance because it is required by law in the United Kingdom. While you want to buy the cover you need, you don’t want to buy too much cover and wind up paying a fortune on your premium. If you are in the market to buy a new car insurance policy, consider these five important things before you make your purchase.
1. Cover Requirements
First, you should take time to learn more about the different types of car insurance options available. There are three main types of policies, and a Third Party Only policy is the most affordable option. This affordable option will meet the legal requirement that all United Kingdom drivers must comply with, but your car lender may require a more comprehensive type of policy. By understanding the cover requirements that you must meet, you can more closely determine which type of policy may be suitable for your needs.
2. The Need For a Courtesy Car
Some policies, such as a Comprehensive cover policy, typically include reimbursement for a courtesy car or car hire after an accident or vehicle theft, but Third Party Only policies generally offer this feature as an additional type of cover. If you have access to another vehicle or only use your vehicle on an infrequent basis, paying for this additional type of cover may not be worthwhile to you. On the other hand, if you depend on your car to commute to work, courtesy car cover may suit your interests.
3. Personal Property In the Car
Typically, only a Comprehensive policy provides you with the reimbursement on personal property that is stolen from or damaged in a vehicle. If you normally transport an expensive laptop or other expensive items in your vehicle, you may consider the benefits associated with having a policy with personal property cover included.
4. Your Budget and Savings
Many drivers fail to consider insurance as it relates to their budget and savings account balance, but taking a moment to review these factors can help you to decide which policy and features are best for you. For example, if you have a high savings account balance, you may comfortably opt for a lower excess amount. This can save you money on your premium. On the other hand, if you are living on a tight budget, lowering your excess may be a necessity to make your premium affordable.
5. Savings Options
You also want to consider different savings options available to you. For example, you can enjoy a discount simply by applying for your cover online. There are also numerous discounts available to many drivers. Safe driver discounts, multiple vehicle discounts and other savings options are common.
Your car insurance premium is a regular expense in your budget, and you want this expense to be affordable. However, you also want to enjoy the benefits that your cover provides. Take time to consider each of these points carefully before you make your buying decision.