Many vehicle owners stick with the same car insurance provider for years and years. Firstly, this may be because they don’t realise that how simple it is to go about changing car insurance providers. Secondly, they often don’t know that there are considerable benefits to shopping around. Thirdly, there are people who don’t know how to go about changing car insurance providers without leaving gaps in coverage periods. This, of course can be a worry.
Changing Car Insurance Providers
These motorists can end up missing out on great deals which are provided by various companies. No insurance company holds the monopoly… So if you’re unhappy with the service that your current company is providing, you should switch at the end of your contract. However, changing car insurance providers requires you to do more than just buying a new policy for your vehicle. Here, we look at a few things that you should consider when taking out a new policy with a new company.
1. Assess Your Current Car Insurance Policy
Firstly, before you take out a new policy, it’s worth taking a good look at your current car insurance policy. This will help you to understand the risks that are covered by your existing policy. It also allows you to identify the coverage and extras included, to make sure your new policy has everything that you need. Some of the things to think about: What would make your policy invalid? (Were you covered to drive 3rd party vehicles, are windscreen repairs free, is your no claims protected)?
2. Compare the different companies
Secondly, when you’re looking for a new car or van insurance policy, take some time to compare the different companies. Comparison sites such as Money Supermarket are excellent for doing this, and clearly show what each company offers for their price. Don’t just settle for the first company that gives you a deal – try phoning up others and see if you can haggle on the price a little. It is also worth checking them out on social media or review sites to see how their existing customers rate them. If they have a lot of complaints or negative reviews, it might be worth looking elsewhere.
3. Clarify what the new policy is offering
The last thing you want to do is switch companies, pay out what is usually a significant amount of money and then realise that it doesn’t offer what you need. I always make sure that my car insurance policy includes windscreen protection, covers me to drive 3rd party vehicles and that my no claims is protected. Make sure you are happy with the vinsurance excess as well – this is what you have to pay before the insurers will get involved. Read all of the terms, conditions and policy details very carefully. Then clarify anything you don’t understand, before committing yourself for the next twelve months.
4. Inform your previous insurer
Finally, once you have made the decision to change providers, it is essential that you let your previous insurer know. Many work on an automatic renewal basis. This means that unless you physically phone up or write to them to cancel, they assume you still want to be covered by them. This can end up extremely costly and difficult to resolve, as you will have technically entered into a new contract.
I hope these tips have been useful. Until next time… Happy Driving!