This is what you need to look out for
If you are buying car insurance for the first time you may not know what to look for in a car insurance policy. It’s an exciting time for you as you plan to get your new wheels on the road but research is key to getting the best policy at the best price. My sister just passed her driving test yesterday and I know that she can’t wait to have her own car and enjoy the freedom. Being able to drive to the gym by herself and go meet friends will be amazing. It can be annoying waiting on parents or family to drive with you.
There are a few tips to keep in mind when buying car insurance for the first time.
Add your parent to the policy
In some cases when you add your parents with a full clean driving licence to the policy it may make your policy cheaper! I understand that every penny counts so ask the insurance advisor is it possible to add your parent to the policy. Not only could it make your policy cheaper, it is handy to have your parent named on the policy.
Excess
Every insurance policy has an excess. For example, in the event of making a claim, let’s say your claim was €1000 and your excess was €250. You, the insured would pay out the first €250 and the €750 would be due to you in the event of a claim. Some policies may have a very high excess. When you are shopping around for insurance, make sure you ask what is the policy excess.
Cheap may not always be the best
If i’m honest, I’ve bought a really cheap policy and what a mistake it was. Over 10 years ago I was a student and I was searching for the ‘cheapest’ car insurance policy going. I was so delighted with the price that I never asked enough questions about the cover in place. I was unfortunate enough to have a claim and I then learned that my bonus wasn’t protected. I struggled to get in touch with the claims department because the phone lines were always busy. It was such as stressful experience.
When you are in college or starting out in the workplace you aren’t thinking about what questions you need to ask to ensure you’re adequately protected. Our team are very protective of our clients and will not put your policy with an insurer that they wouldn’t use themselves.
Bonus protection
If you have earned a no claims bonus please make sure it is protected with stepback bonus protection or full bonus protection. If your bonus is unprotected and you make a claim, that means that your insurance premium will increase next year depending on how much of a bonus you had.
Hopefully these tips will help you along the way.
