Tips for printing the cheapest car insurance agreement Steyn's Christian Insurance is often seen as 'revenge purchases' - in other words, something you don't really want to spend money, but something very important to have. You don't appreciate it until life happens and you need it - and then only you can appreciate having it in the first place.
Make sure your car doesn't have to be expensive. It's best to learn more about how insurance works so you can make decisions based on information about what to choose when you insure the vehicle and a way to minimize this cost.
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There are a number of factors that affect insurance premiums, and there are questions that you must ask your insurance company to help reduce costs. There are also tips that we can share with you.
How car insurance premiums are calculated
According to Christiaan Steyn, Midway Head Blink, some people believe that vehicle insurance is beyond their financial reach even though there are affordable solutions that can protect their vehicles and pockets.
The following considerations are used by insurance companies to determine your vehicle insurance premiums:
● What is the value of your car? The type of vehicle you buy has a big influence on your insurance premium. For example, the average value and subsequent repair costs from luxury SUVs far beyond the hatchback level entry and car insurance premiums will reflect it.
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Strengths: Advantages are the amount you agreed to pay for yourself during the claim. This is part of your risk of "self insure". The higher the advantages you agree, the lower your monthly insurance premiums will be. Click here to learn more about "advantages".
● What is the best cover option available? Depending on your situation, there must be several types of cover available for you to choose, such as third parties, third parties with fire & theft, and a comprehensive cover.
● Record trail of your driving: Previous claims, such as the number and scale of accidents that you have involved, if any, are considered.
It's better to ask questions
Steyn said the first step was to always make sure you know what insurance you need for your vehicle.
To ensure you get the best deal, it is always recommended to have a series of questions ready to ask your insurance company when discussing your choices.
Your budget can determine that you choose the option with a lower premium, but it is important to have access to savings or emergency funds that you can pay higher excess when you need to claim."Ask yourself whether you only need the basics, or are you looking for a plan that includes a little more", said Steyn. You can customize your premium by asking questions to your insurance company:
● Can my excess structure be changed to reduce my monthly premium?
● Are there add-ons included in the default package that can be deleted to reduce premiums? Examples of additional benefits are car rental (access to rental vehicles when your vehicle is being repaired) or drive-to-home services.
● Do you offer discounts or money back in a few months when I drive fewer and when my car is parked in a garage most of the time?
The insurer must allow you to change your cover with what is suitable for you. The trick is to achieve a good balance between your premiums and your strengths.
According to Steyn, there are three further considerations to ensure you get the best car insurance agreement:
How easy is it to interact with your insurance company? If it's hard for you to chat with your insurance company, it can be a warning sign. If your insurance company has invested in an application or website that gives you a smooth and fast registration process, this can also be an indication of how stressed-free to deal with insurance companies in terms of wrong mistakes.
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● Other drivers: Are your brothers, parents or partners drive your car from time to time? If so, make sure your policy includes accidents made by other drivers.
● Annual Adjustment: Check in with your insurer annually, rather than allowing your policy to roll over without you noticing the renewal date. Make sure the information on your policy reflects your current situation and update them if something has changed.
Christiaan Steyn is the head of MiWay Blink.