How Well Do You Know Your Car Insurance?
Insurance Assurance

Women are often heard complaining that men know their cars better than their girlfriends or wives. However, when it comes to car insurance, a major proportion of both genders are actually in the dark. To what extent does your car insurance protect you? How compatible is it with the car you own? Are you obtaining it at the best possible premium? The following points may provide some insights:

1.   Risky Business

Depending on how much risk you represent and how likely you are to file a claim, the premium paid for car insurance will differ. A teenager who has recently received a driver’s license will be offered more expensive insurance policies than someone who has been on the road for years and still holds a clean record.

2.   Take Cover

Aside from standard coverage relating to third party damages, personal accident costs and medical expenses, you should streamline your needs with your insurance policy. The probability of vandalism and theft is drastically reduced if you have access to a private and secure carpark, so you may want to think about removing coverage for these occurrences.

3.   The Right Estimate

The chance of an accident happening is lower on short, occasional trips than long, frequent trips. Make sure your mileage isn’t overstated to avoid paying more than you should.

4.   Shopping Spree

Browse various insurance policies and obtain at least 3 quotes before making a decision. Having more choices and comparisons allows you to snag the better deal.

5.   Cut Your Coat According to Your Cloth

Not only must your car insurance expenditure complement your financial health, it also needs to be just right for the car you own. Premiums will vary according to how much the car is worth, what has been modified, and if the car is a company-issued or privately purchased one.

For more tips and tricks on car ownership, click here!