Price is not everything.... (Insurance Companies - Comparison)

Member Name: Poor_student

Product:	Insurance Companies - Comparison
Date:	29/05/06 (183 review reads)
Rating:

Advantages: Get better deals

Disadvantages: Time consuming

The annual bout of phone calls and clicking can be a real pain, but it certainly can pay off if you put work into it. But it isn't a case of you get what you pay for... Here are a few tips to help people get better car insurance deals (from my experience working for insurance companies!):

* Always be honest in your answers!! If you hide, say, a conviction, the insurance company will probably find out if you make a claim, and it can cost you dearly then and in the future!

* Always get details in writing before accepting a quote. I ahve know occasions where commission-hungry staff quoted third party prices as being comprehensive! You do however, have 14 days to cancel.

* Check how long the quote lasts for - some companies only let their quotes stand for 14 days.

* Get a "new customer" quote from your existing insurance company - you will usually find it cheaper than the renewal!

* Have you got the right cover? Do you really need comprehensive cover for that 20 year old banger?!?

* Check for "included" options. Some quotes automatically put in extras, such as breakdown cover. If you don't need it, ask for it to be removed!

* Having named drivers may be cheaper than an all drivers policy.

* Check that you have proper security on your car, and put the car in a garage or drive - it is usually cheaper!

* ALWAYS READ THE SMALL PRINT AND TEH POLICY BOOK!!! You are signing up to a legally-binding contract, and will be held to it! Understand what you are signing for, and if you are not sure - ask!

* Don't put too much weight on the No claims offered - look at the overall price! (a 50% discount on a £1000 policy is not as good as 20% discount on a £600 policy!)

Questions to ask:

~Courtesy Car -
* Do your get one? Not all companies do provide one!
* Who provides it? Most insurance companies will only provide one if you use their nominated repairer. Some will hire one out for you, regardless of where you get repairs.
* How long for? Some companies put on a limit, and you may find your courtesy car being taken away even if your car is not repaired!
* Is it guaranteed? Most companies provide cars subject to availability
* How long do you need to wait?

~ No Claims Discount (or bonus)
* How many years / what percentage do you lose if you make a claim? Some insurance companies take away the whole lot!
* Can the no claims be protected? Ask how many claims you can make before losing NCD (Usually 1 per year to maximum of 2 in 3 years) IMPORTANT!!! It is a NO CLAIM discount, NOT NO BLAME! - If the accident is not your fault, but there is no-one to claim from, it will count as a claim against you (with limited exceptions).
* "lifelong protection" is only as long as you stay with that company - you can't take it with you!

There is so much more that it is impossible to recount them all here. I will happily post aother review if the option becomes available, but that is getting into guidance and not reviews. Hopefully, the above will make comparisons easier. Just remember that YOU decide whether to accept a quote or not, so take time to consider your options. Good hunting!

Summary: don't be pressured and price is not everything!