In this world, no one is absolutely perfect. You might have received a few tickets because of speeding, or you have a bad credit history. You’ll find numerous online insurance sites claiming cheap car insurance rates, but you are not sure about what is being marketed to you and what exactly you are getting.
So, we want to help you to find your feet to get important information about cheap car insurance. There is plenty of information available, and you need extensive research to get proper information.
In this informative post, you’ll get the complete information regarding the real truth about cheap car insurance and what you should know before selecting any coverage plan. We have tried our best to present the most reliable information on getting the best and cheapest car insurance, and what you should know before making your final decision.
If you are looking for cheap car insurance companies in the UK, then it is preferred that you also search for the other benefits that you may get from the cheap car insurance companies, rather than sticking to the cost factor only. Obtaining the best and cheapest car insurance isn’t like shopping a cheap gasoline from a station. The coverage policies differ from company to company. One car insurance company might exclude coverage that another might include within the same cost.
The Cheapest Car Insurance in the UK:
“It is always good to look first at how prices stack up, but you must stick with the basics that what is actually covered and what’s not covered in your insurance plan. Also, make sure that you’re comparing apples with apples, not with oranges,” as said by famous consumer analyst Penny Gusner from insurance.com. Therefore, it is always recommended to search well before counting on any car insurance in the UK.
In case you’re a low-mileage driver, then you must think about the option of “pay-as-you-drive” coverage plans as well as some other types of car insurance discounts. If you feel that these options don’t fit you, then below here is a complete watch list for you to explore your options.
Standard Car Insurance Plans:
Standard or preferred car insurance policies are just the best options for drivers with a clean or moderately clean driving record with excellent credit ratings. On the other side, the nonstandard car insurance policies are specifically designed for risky customers who are not eligible for preferred or standard insurance coverage. Some car insurance policies are also designed for special cars, such as a Bentley or a restored ’65 Mustang.
Smaller Car Insurance Companies:
Small-sized companies that specialize in catering the high-risk clients or classic car owners normally lead the nonstandard market. But these days, several giant insurance companies, such as State Farm and Allstate, are offering nonstandard and standard insurance policies.
Non-Standard Car Insurance:
According to the top industry analyst Conning & Co.., the non-standard car insurance accounts for about a fifth of the total private passenger auto insurance market. However, there is another fact that you must keep in mind that there is no insurance company that will take the extra risk of you. They will try to compensate for the coverage either by charging you high rates or simply by reducing your coverage, or both.
- Information regarding standard coverage
- What insurance companies check before getting a coverage plan
- Information about nonstandard customers
- Less coverage for repairs
- Low Mileage & coverage plan
Here are 7 Hidden Surprises that will Shake Your Head
1- Less or No Coverage for Some Drivers:
Normally, a standard Car Insurance Policy covers all, even the members of your family, relatives, and friends who borrow your car occasionally. But, in case you have a risky driver living with you – such as a teenage boy with a track record of ticketing because of speeding, then you need to exclude him from your coverage plan. Moreover, several nonstandard coverage plans also exclude permissive drivers – such as people who make use of the cars with your permission. Also, such companies will exclude coverage for permissive drivers who are under the age of 21 or 25.
2- Driving Record Checks:
The insurance companies normally check the driving record of a concerned person once a year. But in case you already have a checked history of driving, then the insurance company might check your record every six months, before the beginning of each coverage term, so that they can adjust their premium accordingly.
3- No Favor No Special Assistance:
Are you searching for how to get the cheapest car insurance? Then you must analyze the Google results by typing in the phrase “what is the best and cheapest car insurance” and must compare the market car insurance UK companies. Here are some of the tips that you must avoid before selecting any car insurance coverage plan.
- Don’t go for extra treats and perks advertised by major car insurance companies on TV for their best customers.
- The perks and benefits offered by the car insurance companies are not free. Keep this truth in your mind. Nothing is free in this world!!!
- Nonstandard policy will come without any benefits of a standard policy, so there are no perks in case of an accident or loss of your car.
- The benefits are not free, and they’ll be at your end with high premium charges, which is, in fact, not an option for nonstandard customers.
4- No Coverage for Exemplary Damages:
To get the cheapest and best car insurance coverage, you must adhere e some facts that most of the car insurance companies will not offer you any coverage if you cause an accident or are sued. The car insurance companies will exclude coverage for exemplary or punitive damages. This means that you are liable to pay for those damages, and if a court sides with the other guy.
5- Less coverage for repairs:
If you have taken the comprehensive or collision coverage plan, then under the standard policy, you’ll be rewarded with full compensation unless the car is declared as a complete loss. If the car is totaled, the insurance company will only pay the depreciated value of the car – its net market value before it was damaged. But you’ll be amazed to know that some nonstandard car insurance policies take depreciation into account for repairs as well. Instead of paying the full amount to repair, the policy will pay only a percentage of the total cost, as per your car or vehicle’s depreciation.
6- Lower Mileage Acceptable:
Some car insurance policies are specifically designed for special cars having a very low mileage cap, such as 2,000 miles/year. In such a scenario, if you don’t use your car for driving every day, the allotment may not be enough if you travel to car shows. Therefore, you think about how much you’ll drive a car and make sure that your policy covers enough mileage to cover it
7- No Coverage for Pizza Delivery:
You must also keep in mind that some nonstandard policies also exclude liability as well as damage coverage when your car is used for any sort of business purpose – including delivering pizzas or newspapers.
Ready? Get the Best & Cheapest Car Insurance!
You’ve made it to the end. How are you feeling about the post? This was such a long post, but we have tried to give you an idea about the hidden cost of cheap insurance companies, a now you might need to bookmark this page and come back over and over again to comprehend the complete information.
But we hope that you’ve come away with a lot of information that you might find difficult to get. Now you can talk to your agent about the coverage that you are getting from the selected car insurance company.
Either way, if you stick with the information mentioned above, you’ll be able to get the cheapest car insurance in the UK. Always value your hard-earned money and select the car insurance plan that covers the maximum.
