Switching your car insurance provider is relatively easy and yet, many of us just roll our policies over with the same company without shopping around for a better deal at renewal time. It’s not just about the lowest price, though. You need to shop around and compare like-for-like policies. Below, we outline the five things you need to consider before switching.
No Claims Bonus
A No Claims Bonus can be a very important factor in anyone’s motor insurance policy. Protecting it with step back protection is something you should consider when you switch provider, especially if you have spent years building it up. Adding this type of feature will typically increase the cost of your quote.
Breakdown Assistance and Windscreen Cover
Breakdown assistance and windscreen cover are often included as standard, but can raise the price of your premium. Consider whether you really need them. If you have bought your car through a hire purchase or PCP agreement, you may already have cover for breakdown assistance in your contract.
Fully Comp or Third-party, Fire and Theft
The need for Fully Comp or Third-party, Fire and Theft really depends on the car you drive. Replacing parts on high-value cars can be very expensive, so a Fully Comprehensive policy may make more sense for you. If you do make a claim, it’s worth remembering that some companies will allow you to pay off that claim before the expiry of the policy, which will then be marked as a no-fault claim. This will be beneficial to your no claims bonus on your next policy.
Make sure there’s no gap in your cover
It’s vital that you don’t leave a gap in your cover if you’re switching providers. Check the details of your current policy and make a record of the exact time and date of when it expires. You should use that time and date as the starting time of your new policy.
If you are buying a new car, make sure to notify your broker or insurer beforehand so that your new vehicle is covered. Remember to do this with plenty of time as it can be difficult to arrange last minute insurance, particularly on the weekends when some brokers and insurance companies close.
Take your time and make sure your cover is right for you
While it may be quick and easier than ever to get an insurance quote, it isn’t something that should be rushed into. There are lots of different policies and insurers out there and it’s important to make sure that you have the cover that suits you.
Take your time to read the details and see if it includes everything you need, expected or assumed it would have. Don’t hesitate to call and enquire about the policy if you have any questions or if there is a part of it you are unsure about.