Hints and Tips to get Best Deals
Whatever you need to buy insurance for, you’ll appreciate having the right policy at the right price if you ever need to claim.
To help simplify the process, we’ve come up with a few straightforward hints and tips.
Decide how much insurance you need
How much insurance you require will depend on a number of factors, including the value you want the insurance to cover and how much you can afford to append on payments.
If you’re buying insurance for the first time, and even if you’re looking to renew a current policy, it will pay to do your research. First of all, find out what different kinds of cover are offered. Once you know this, you need to think about which kind of cover best suits you needs. For example, if you are a new driver, it might be a good idea to opt for comprehensive cover to ensure that you are covered, even if you have an accident that is your fault.
Once you have figured out what kind of policy you require, you can move on to comparing quotes.
Compare quotes
This is possibly the best advice for buying any kind of insurance. If you’ve been watching television over the last few months, the massive increase in advertising by insurance comparison websites can’t fail to have escaped your notice.
Comparison websites are quick and convenient way to search for instant quotes, doing most of the leg-work for you. While it is clearly incredibly important to compare insurance quotes from different providers to make sure you get the right cover for you at the best possible price, you should also be aware that some providers don’t offer their best prices through comparison website as a result of the charges the comparison website levy per referral. Companies like Direct Line have made a point of not offering any of their policies through comparison websites.
However, when there are so many different providers and kinds of cover, the traditional ‘ringing round’ method just takes too long. It’s a good idea therefore to make a note of providers who advertise the fact that they don’t offer cover through comparison websites and approach them separately if you think that they might offer you a good deal. Don’t rely on just the one comparison website, however, as some insurance providers offer different prices through different sites.
Understand what you're buying
An insurance policy is a legally binding contract that will feature a wealth of technical terms. It is very important that you fully understand what these terms mean so that you are properly covered before you sign anything. See our glossary for help with insurance jargon.
Your policy documents will tell you:
1. Who or what is covered
2. What coverage exclusions and limitations apply
3. When coverage begins and ends
4. How much coverage is provided
5. How much you'll pay for coverage (the premium)
6. How to report a loss or file a claim
Re-evaluate your insurance needs periodically
If you are buying a long term insurance policy (e.g. life insurance), or a series of shorter policies (e.g. annual car insurance), it is important to remember that your life and circumstances will change. Your insurance will need to change, too.
Review your current insurance policy and think about whether you need more or less coverage or an additional type of coverage. If your financial situation changes for the worse, it might be advantageous to reduce your cover to make it affordable. Equally, if you renovate your house and refurnish the interior, it might be worth calculating the new value of your contents to ensure that all the changes you have made will be covered by your policy.