20 January 2022
By Tom Collins
tom@TheCork.ie
Unlike the thrill you might get from buying a new pair of shoes or booking a holiday, Car Insurance isn’t exactly an exciting purchase, however it is something required by law. The painful truth is that you don’t actually see the benefits from insurance unless you are unlucky enough to have something unpleasant happen. However, you know it will give you peace of mind to be protected in case you have a serious accident, or if you just need new auto glass. But how can you get the right level of cover and still pay less?
1. Choose a Safe, Modest, Practical Car Over a Flashy One
Depending on the Insurer, sometimes a car’s value may have an effect on your car insurance premium so perhaps choosing a car that is reasonably priced and practical and can get you reliably from A to B might save a few euro along the way.
2. Shop Around
Just as you shop around when you’re buying your car, you should also shop around for your car insurance. Ask friends and family members if they have received any competitive quotes this year. Enquire about the car insurance policy excess (the first amount of each claim that you will have to pay) and if it can be increased or decreased depending on what you are willing to bear in the event of an accident. Choosing a higher excess may save you money and you can always set aside cash for the excess over the period of insurance if the worst happens. Ensure you are only choosing the optional extras that you need.
3. Read the Fine Print
It is so important to read a car insurance Proposal/Statement of Fact carefully. Reliability matters, so make sure you do a little research on the insurer and what other people’s experience has been like with them. At the end of the day, you want a reasonable price, good coverage and an insurer with a good reputation. There is no point picking the cheapest car insurance policy you can find only to realise later that you are not covered for a certain event or, for example, that the insurer can only be contacted online when you prefer the human touch over the phone.
4. Pay Upfront
If you pay your insurance premium in instalments (every month) then the actual cost of your insurance may be higher due to interest fees. Some insurance companies charge extra on their premiums. But if you are able to pay the full premium upfront, you may avoid paying extra and have more money in your bank account every payday.
5. Review Your Policy Every Year
It is so important to review the level of car insurance cover you require as your circumstances may change from year to year. It is a good idea to ensure that you are getting the best quote available. A good idea could be to ask the agent if there is any discounts available coming up to your renewal.
6. Combine Your Policies
You already know how important it is to shop around but you can also save money by having all your insurance policies with one provider. This can also make life a little easier for you as you’ll have one point of contact for any questions or queries you might have.
7. Be a Safe Driver
One of the best ways to save on your premium is to be a safe driver as you’ll be offered a lower premium if you don’t have any penalty points or accidents. On top of that, many insurance companies give discounts off your premium for every year you are claims free.
Even if your record is already tarnished, there is a way to redeem yourself. Although you cannot magically erase a bad driving record, you can make a promise to yourself to be a better driver moving forward. Maintain concentration and focus, eliminate any distractions and obey the rules of the road, including the speed limit.
8. Take Advantage of Special Discounts
Insurance companies regularly offer a variety of discounts from month to month, so keep up to speed with such benefits and offers. The Aviva Driving School is such an example.
We hope these tips have shed a little more light on the car insurance market and on how to get the best deal on your car insurance. It goes without saying that it is important to always be honest about all information you disclose as failure to disclose any material facts may mean that your insurance cover may not protect you in the event of a claim or your policy may be cancelled. It is important to take the time to review your options in relation to car insurance to get the correct fit for you and your needs at the most reasonable price.
