Insurance And Your Excess
It seems like all of us are trying to get
cheaper car insurance in this day and age especially now as the price seems to be getting higher as the years go by. How can you get a better quote however? Well, something that many people do is simply renew their existing policy with the company that they are with. This can be a grave mistake as the renewal price may be around the same or even higher than the price that you were already paying; by having a look around – online if you can – then this is a far better way of getting a much better quote.
However, what about your excess? This is basically the amount of money that you have to pay before your insurance kicks in. So if you have an accident and the damage to your car is $400 and your excess is set at $500 then you will have to pay the $400 and you will not be able to make a claim. If you can, and not everyone is able to admittedly, then raise your excess a bit because this will bring your quote down. Why? Basically what you will be doing is transferring liability from the insurer to yourself and the provider will rewarded you as a result – with a lower premium. Another good tip is to consider your annual mileage. If you have an annual mileage clause in your policy then consider if you actually use it because if you can lower it to a level that you actually do use then you could make a saving here as well.
It is all about deciding the way in which you use your car and what you can afford; a few simple changes to your policy will see a cheaper insurance quote being offered to you.
07.02.2012. 18:03
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