Shopping around for car insurance, you may think you’ve got the best deal but our advice is to take your time to really check the cover and the details – here are 5 tips to ensure you get the best motor insurance deal tailored for you.
Don’t confuse price with value
Despite popular belief not all car insurance policies are the same and not all insurers are the same. You never know how good the insurer is until you need claim however you can reduce this risk by choosing an insurer registered with the Financial Conduct Authority in the UK.
A number of motor insurers operating on comparison websites are registered overseas in places like Malta and Gibraltar. This means in the event of a claim you do not have the same level of protection as an insurer registered with the FCA in the UK.
Make sure the cover is bespoke to your needs
You can reduce the cost of your motor insurance by looking as aspects such as
- the amount of excess you are prepared to pay,
- your annual mileage
- the value of the car
- the drivers insured
- the use of the car
Check all these with your insurer at each renewal and ask if there are any changes you can make to reduce the premium payable.
Is Your No Claims Bonus Protected?
Consider protecting your no claims bonus. If you are unfortunate enough to make a claim this will help keep any increase at next renewal to a minimum and keep your maximum no claims bonus intact.
Consider a multicar or family fleet policy particularly if you have more cars than drivers. Find out more here.
Watch the Direct Debit Charges
Some insurers can charge up to 15% to pay your premium by monthly direct debit. Make sure you take into account any direct debit charge when calculating the total cost.
At Executive Home Cover we offer motor policies designed especially for our high net worth clients.
Click below to find out more or contact us on 01489 579808 to discuss your individual requirements.