22nd April 2013
IF YOUR CAR IS YOUR LIFE, INSURANCE SAVINGS ARE A MUST
Here at Low.ie we’re committed to keeping the euros in your pocket. This is the latest in our series on saving you money in your daily expenses and we hope you find it useful. We can always offer you the best value on your Life Insurance, but there are plenty of other ways to save.
We have all been there, in fact we go there every year. Trying to find the cheapest car insurance can be a nightmare and sometimes it can come down to old school bartering. At low.ie we understand your pain so here are a few tips to help you.
Talk, Talk and More Talk
Finding the best car insurance isn’t a game, it is a mission. Get prior knowledge from friends and family. Often you will bypass some great insurers due to a lack of knowledge and you will lose out on fantastic quotes. Don’t forget to go your brokers as well, they will often have the best deals. Once you have rang all the insurers go back and let them know about your cheapest quote and see if they will better it.
Obviously this is huge part of your insurance quote. Engine size and car class are what insurers look at. By having a small engine your risk level decreases which will get you a lower quote. You don’t need to limit yourself to a 1 litre car for cost purposes, especially if you are using it every day. Get a car you want but be aware of the cost/benefit analysis and don’t by an unnecessary 5 litre Ferrari. The smaller the engine the lower the tax as well, usually.
Try Not to Claim
Try your hardest if you do have an accident to not make a claim. Talk with the other party, no matter how rude they are. Coming to a private arrangement for compensation might suit all parties and make you serious savings in the long run. Losing your no claims discount can hugely increase your insurance costs, especially if you're a young driver.
What about the extras?
With all insurance quotes ask what extras are included, for example windscreen cover, breakdown assistance and personal cover. These are often, but not always, included in many quotes, make sure you know what you are paying for. If your quote is a bit high, sometimes you can choose to opt out of these additional extras and reduce the overall cost.
Insurance brokers recently started working with credit companies to help people pay their insurance in set amounts over the year. However if you pay in one lump sum at the start you may save maybe up to €100 per annum and if you are a young driver you might even save more.
To recap on all of that, be aware of what you are buying, avoid claims, pay in one lump sum and most importantly shop around.
We hope you're enjoying this series and if you have any cost-saving tips yourself, feel free to share them in the comments on our facebook page. As always if you want to get the best quote on your Life Insurance feel free to get in touch.