Changing your car insurer is not that easy. This is due to the fact that you have been using services of your particular insurer for years and you believe finding another one would be difficult and time taking. This leads to even paying some extra amount to the insurer and without even realizing it.
It is always a good idea to check your existing policy and determine if you can avail any discount for better pricing. Still, if it doesn’t work for you, you are likely to end up performing car insurance comparison and looking for a new insurer as you cannot bear the costs of the current one anymore.
The Need for Car Insurance Comparison
Car insurance is the ultimate need that is realized only in case your vehicle faces some accident or damage, or you have to manage a claim.
The fact is, your insurance needs vary with time and so do the costs associated with them. When you perform a quick car insurance comparison, you get to see the dramatic variation of car insurance quotes between different insurance companies.
You might not always need to review your existing policy each month. However, with quick car insurance quotes, you can determine if you are overpaying your current insurer before the renewal period. This makes sure that you have the best coverage option to avail so far.
Things to Keep in Mind When Switching Your Car Insurer
There come situations when you think of changing your car insurer and switch to a better one. If you think you are paying too much to your existing insurer, it’s the right time to switch your insurer and move to a better one that is more affordable.
Before starting to compare car insurance in UK and finalizing your next insurer, here is what you need to consider:
1. Coverage options
With too many cover options, you might be paying more than you need to. Similarly, too little insurance means you are going to be financially exposed at the end. Determine your needs first and choose your covers wisely.
2. Shop around
There are many car insurance policies that are offered on a half-year or annual basis. The best time to switch your insurer is when you are going to buy a new car, add a new driver to your policy, or you are moving. For any life-changing event, it’s always a preferred approach to shop around and research the best car insurance comparison site before renewing your policy.
3. Pay Attention to Benefits Between Different Plans
With the best car insurance comparison, you start looking for different discounts and cheap rates provided by other insurers. Keep in mind that a cheap policy doesn’t mean it is going to provide you lots of benefits relevant to your needs. You need to closely pay attention to the benefit details between each plan.
Make sure to understand the details of what is going to be covered under the new policy you are thinking to buy and what extent of protection is it offering to you. You can also ask your current insurer for ideas and what else they can offer to you. Still, if it doesn’t suit your needs, go for the new insurer or else you would be again paying a little extra to your current insurer.
4. Compare Quotes from Different Insurers
Whenever switching your insurer, you always need the surety that you are choosing the right policy for your coverage needs. To ensure this, you can perform a comparison from different available sites. Getting quick quotes with these sites is not a problem. All you need is to provide the asked details to get a quick quote against them.
Try to get a total of 3 quotes at least, from different insurers, for a better understanding of the market rates and the average costs. Costs vary from company to company. The information you might be asked to provide includes:
· Information regarding your vehicle
· Parking details
· Your information
· Your driver’s information
· Driving history
5. Check for What Else You Can Get
When switching your insurer, always make sure that you have got any penalties before the end of the coverage. Companies across UK offer cancellation policy too, at any time you want, until you have given proper notice for that. They even refund your unused premium.
However, some of the companies do charge some fee upon cancellation as it’s not in their policy. You need to check on your current insurer regarding what happens if you cancel your existing policy. This lets you have a better idea of the cancelation mechanism.
6. Research the new company
Before finalizing the new company, check out your insurer and do not sign the policy if there is any ambiguity. Read online reviews and authenticity of the new company you are choosing and what level of customer service do they offer. If they are not that helpful, ignore them and continue your research.
Research has always proven to be helpful when switching your insurer. Cover details and quotes are most of the times different for each insurer. While some companies may offer great rates, others might be difficult to deal with. Make sure you have made your decision wisely.
7. Cancel Your Old Policy
Always make sure your current policy is canceled, whenever you decide to switch to a new policy, from a different insurer. Ensuring your current policy is terminated saves you from troubles. Merely stopping to pay your premiums doesn’t mean your policy is canceled. Take the asked steps to terminate the policy and save your credit.
Don’t forget to inform your insurer regarding your act of terminating the policy. This helps in saving your money for future coverage by them. If possible, report them in writing too, for having proof of what’s decided at the end between you and your car insurer.
8. Print Your New Insurance ID cards
After making sure you have really canceled the previous policy and have successfully switched to the new one, make sure to change your car insurance ID cards and switch to the new ones. The new cards will be needed whenever any damage occurs to your car.
Changing your car insurer is not an easy decision to make. Follow the mentioned steps in the post to ensure a hassle-free switching of your car insurer.
EnsuranceCompare is a UK-based company that lets you perform a convenient car insurance comparison to have a better idea of different insurers, their coverage options, and quotes.