How to Shop Around for Motor Insurance
Any long-time vehicle owner will know that the true cost of ownership is just getting started when you put down that initial deposit. The ongoing monthly payments, fuel costs, and, perhaps most of all, the insurance premiums are what will have the biggest effect on your bank balance. There are lots of different avenues available to you all promising you the best deal. Here’s what you need to know.
Price Comparison Websites
As the number of people comfortable shopping online increases, price comparison websites are becoming more and more popular. Since they always promise the best deal this typically seems like the way to go. However, an increasing number of service providers are now withholding their deals on price comparison sites. They claim that doing so means that they can pass the commission fee that would normally go to sites like Confused.com or CompareTheMarket straight on to you. This means that if you really want to leave no stone unturned, you might have to consider going direct.
Shopping on the High-Street
Shopping at a high-street provider like this also gives you the advantage of speaking to an expert in the field. When you shop only on price comparison sites, the results typically only include the most basic contracts available. Here, you’ll be able to better tailor your agreement with the specific policies that suit your needs. You’ll also be able to get help on any questions you have regarding the terms and conditions of your agreement, and how certain situations can affect things like your ability to claim or your premium rates. If you want to make sure you don’t have any issues in the long-run, make sure you have all the answers you need before you commit to any deal.
Using an Insurance Broker
Finally, shoppers have the option of working with an insurance broker to find themselves the best deal. Contrary to what you might think, you do not pay an insurance broker directly. Instead, they’re are paid a commission fee from the insurance company, like a price comparison site. However, the service isn’t free. The commission will most likely be included in your premiums whether you realise it or not. The main advantage of using a broker is it allows you take a hands-off approach as your broker finds you the best deal through scouring the market and speaking to their connections. This is ideal for those who aren’t as familiar with the market.