MOTORING NEWS - When times get tough, car insurance is often one of the first things to be dropped from the budget. But it should be seen as a necessity, since motorists who are involved in an accident can easily become indebted if they're liable for any damages.
So, if one is looking for car insurance quotes online, or over the phone, here are some pointers to consider and 10 questions to ask, courtesy of the Automobile Association (AA).
Shop around
Understand your budget and what you can afford. The AA also recommends knowing exactly what you are paying for when taking out car insurance. Read policy documents carefully. Understand the costs involved if you should claim, as well as how the excesses on your policy are structured. Although car insurance policies with lower monthly premiums may seem attractive, remember that they may fall short when it's time to claim.
Ways to save
Consider bundling insurance policies with one insurer. Most often, bundling multiple cars together or even bundling your car and home insurance will give substantial savings.
Security measures like a car tracking device may also help lower premiums, as well as parking in a secure spot and having a professional driving permit.
The AA encourages motorists to consider these 10 things before signing on the dotted line:
- What is the excess? Is there a different excess for loss and for damage?
- Is the excess a flat rate, or is it calculated as a percentage of the loss or damage?
- Besides the initial excess fee, are there any additional excess fees payable when claiming?
- Are there any penalties for claiming within the first six months, or in the first year?
- What is the turnaround time for claims?
- Will you be covered if others drive your car? If you are, find out if there's a difference in the coverage depending on the age of the driver. This could be important if you have children who borrow the car.
- Is the car covered for resale or full retail value?
- Is the insurance comprehensive insurance?
- Are there any limitations on where or when you can drive your car?
- If something happens to the car, is car hire included while it's being repaired or replaced?
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