The Uk Insurance

How to save on Motor Insurance

Posted in Insurance Articles

Buying a motor insurance can make a hole in your pocket. If you do not take proper measures, chances are that you would end up paying a very high premium on your motor insurance than compared to others. To save on your UK motor insurance, you must take certain measures to ensure that you get the best deal on UK motor insurance. The reates offered for UK motor insurance may vary greatly from direct companies to agencies, brokers and agents. You can save a lot of money on your motor insurance by keeping in mind the following things:

• Ensure that you have a clean and excellent driving record. If you have never been involved in any accident or been fined for a traffic violation then you would be charged a lower premium
• Do not accept the estimate that you are given initially. You should do some shopping and look around for the deals that are available in the market. You can get the most competitive quotes from other insurance providers and also a better insurance cover at a much lower cost.
• Look for the ratings of the motor insurance company by an independent rating agency like A.M Best, forums, blogs, etc.
• If you are buying a car that is very rare and its parts are not available easily then you would be charged a higher premium for your UK motor insurance. Look for a car that has features that reduce the premium instead of the ones that increase the premiums. Generally, an additional brake system or an anti-theft device would lower your motor insurance premium.
• Get the quotes for motor insurance from the same company that you have insured your house, life etc if it offers one. Companies usually offer concession to the existing customers having different policies from them. This is known as multi-policy discount. Make use of it.
• Having a good credit record would also help you in getting a lower insurance premium.
• If you already have accident cover in your health insurance policy, find out how much less you would have to pay in case you don’t opt for an accident cover in motor insurance after weighing the pros and cons of the policy.
• Using the reductions offered by companies for insurance of more than one car belonging to the family. Most of the companies have special offers for corporate organizations, clubs, professional groups etc.