Finance

9 unknown things about car insurance

Car insurance coverage is something important that every owner is to have for driving the vehicle on the road and to have peace of mind. But, the fact is that there are many who simply do not research and carry on with their existing provider. What the person is not aware of is that by not shopping for auto insurance, he is likely to end up paying a fortune that what is required. Also, on not checking properly the fine prints mentioned in the policy, he may not at all be insured!

Car insurance coverage

Surprising tips and facts about car insurance

  • Paying single insurance premium: Instead of installment payments of 12 months, making single premium payments can help to save about 30% and more.
  • Not overdoing the excess: There are many who tend to agree to excess insurance above what they actually could afford to pay. High excess is likely to have the car insurance premiums to be reduced. However, the person has to keep in mind that in an unfortunate accident, cash has to be shelved out-of-pocket to meet repair expenses.

Not overdoing the excess

  • Speaking out the truth to the insurer: It is necessary to be honest to state as to what the vehicle is to be used for and who would drive it. This is to avoid nasty surprises when making claims.
  • Checking out how comprehensive the fully comprehensive coverage is: The term ‘fully’ with regards to the fully comprehensive could mean various things to variety of insurers, especially if opted policy is the cheapest available. The reason is because cheaper insurance policies are likely not to include courtesy windscreen coverage or legal coverage.

coverage or legal coverage

  • Not to make claims if damage caused to vehicle is minimum: Minor accidents involving some amount to be paid for repairs can undertaken by the owner himself. However, the insurer needs to be informed about the incident, due to policy requirements. But claiming might result in increase in excess and premiums.
  • Even if no claims bonus is protected, premiums may still increase: Premiums are sure to rise after an accident, although no claims bonus stays protected. The percentage bonus might stay intact. However, the insurance policy’s underlying cost could increase, thereby requiring the person to pay more.

premiums may still increase

  • After an accident photographs to be taken: Irrespective of the amount of damage caused to the vehicle, photographs are to be taken always of the vehicle as well as the other person involved in the accident.
  • Shop first before renewing automatically the existing policy: New customers are offered with the best deals by insurance providers. Hence, it is worth to shop always for auto insurance. An agent can be contacted for the same. Getting several quotes can help to make the right decision.

UCPB car insurance

  • Notifying insurer with changes in circumstances: The insurer is to be notified promptly in case, of circumstantial changes or the insurance is likely to be invalidated. It includes changing jobs, moving home, modifications made to the vehicle, etc.

It is always wise to avail the best auto insurance. UCPB car insurance policies are best taken to have the vehicle to be comprehensively insured.