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Car Insurance

Auto Insurance Rate

If you take good care of your vehicle, you may qualify for lower insurance rates. Parking in covered areas, for example, might help reduce your premiums. Insurers base premiums on risk factors, so if you reduce your risk, your rates will be lower.

You can pay your premiums by month, or you can fully pay for the coverage period in a lump sum. Incremental payment incurs processing fees, so paying in full equates to saving money. If you have the sum available, pay the one-off fee and avoid the recurring fee charges. If you can’t afford the lump sum, though, rest assured that providers to allow the monthly payment option. Choose the best protection and the auto insurance prices that fit your budget.

Reducing Your Rate

Directly consulting an insurance company on ways to reduce your rate might be a wise decision. A good, reliable insurer will have available a list of methods and options that company will take into consideration for reduced rates. Parking in a covered car port helps protect against the weather, but parking in a garage provides greater protection and reduces risk of vandalism and theft as well.

Other potential premium-reducers include better locks on doors and the boot and anti-theft devices. Auto tracking devices help greatly, and steering wheel braces are excellent tools too. Anything that reduces risk of damage or theft will lower your car cover costs.

Reducing the amount or distance of your driving will also help reduce your rates. If you drive less than 5,000 miles annually, for example, you will enjoy smaller premiums. Reduced exposure to risks reduces your insurance risk, and reduced risk equates to reduced bills.

The type and age of car you drive influence your cover premiums. Smaller or low-powered cars are cheaper to insure than larger or high-powered ones. Check with your insurer before you buy a different car to verify your projected premium.

Your residential area will also influence your insurance rates. Some areas are more dangerous than others with greater risk of vandalism, theft or even weather damage. Beware of the environmental risk factors that influence your car insurance premiums.

Lastly, your age and driving record influence your car insurance rate. Younger drivers have less experience, and careless driving leads to penalty points on your licence, both of which increase insurance rates.

Types of Coverage

There are several types of coverage available, and you might consider each equally. The types include third-party cover, third-party fire and theft, and fully comprehensive cover. Each level may have cover add-ons available for additional cost as well. For example, breakdown cover will protect you if your car breaks down and may include tyres, towing and perhaps a rental car during repairs as well.

The basic third-party cover meets the minimum legal standard of car insurance in the UK. This cover protects you against property damage or bodily injury to another if at fault in an accident. It does not cover damage to your car or injury to you, however. It also does not cover deliberate damage from theft or accidental fire damage.

The second type of cover, third-party with fire and theft, provides that additional, intermediate protection that builds upon the basic level, but it still doesn’t cover damage to your vehicle due to an accident at which you are at fault.

Comprehensive cover includes all lower coverage and adds coverage benefits and additional features. It covers property damage, bodily injury to others. It provides the fire and theft protection. It also covers damage to your vehicle or bodily injury to your passengers or you. Some comprehensive policies add additional features as well. This cover, with or without the added benefits, is the most expensive option of the three, but in exchange, it offers you the most protection. Comprehensive cover is the level required if you have a car loan outstanding or if you lease your car.

Driving Without Insurance

Every insurance provider in the UK contributes to the Motor Insurer’s Bureau, aiding in accounting for uninsured drivers. You pay £30 annually for this protection against uninsured drivers who cause an accident. The coverage is inborn in this annual fee.

If you drive without insurance or do not maintain the minimal level of cover for your situation, you may be fined up to £5,000 per instance and get penalty points added to your license and driving record. That fine does not include the instantly higher premiums you may have to pay. If you accrue more than six points on your licence, it may be revoked. Everyone who drives your car must be insured, either via their own coverage or on your policy as a named driver. Even if you personally don’t drive, your car must be insured, or you could face fines as well.

Find quality insurance cover at an affordable auto insurance rate from a reliable carrier near you today.

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