5 things to look for in car insurance

The best car insurance isn’t necessarily the cheapest – but you don’t have to spend a bundle to get all the most important features. Whether you need comprehensive insurance for your brand new vehicle, or third party cover for your parent’s run-around car, knowing what to look for is essential.

Here’s what to investigate when you are looking to take out car insurance:

1. what about reputation?

Check that your insurance company is registered as a financial services provider (hint: our FSP number is on your policy, and in the footer of our website).

2. what about customer service?

  • A simple internet search will bring up all reviews on your prospective insurer, so that you can assess how they deal with claims and customer queries.

3. what about claims?

  • Find out how long the average claims procedure takes and what the process is.
  • Ask about the average claim payout and how often claims are rejected.

4. what about cost?

  • How much is your excess going to be in the event of a claim? Will you be able to afford it, when the times comes?
  • How much is your insurance premium going to be on a monthly basis, and how often will your premium go up?
  • Are there benefits like a cashback bonus if you don’t claim at all?

5. what about you?

Your details are used to calculate your premium, so make sure the following is accurate:

  • Your address i.e. where your car is parked at night.
  • What you are using the vehicle for on a daily basis. If you are a sales rep, tell the consultant that. It will make a difference in your cover.
  • Don’t try cheating the system with false information to get a cheaper premium. That cheaper premium might result in a rejected claim in the long run.