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Lucy F, Bradford UK

How Does Car Insurance Cover Differ Between Companies?

Regardless of the actual company that sells the policy, car insurance covers all have common elements. However, there can be significant differences as well: Cost and the extent of cover are two primary distinguishing aspects. When looking diligently for a policy that offers both the greatest value and the lowest price, the best course of action is to research several companies before you commit for the most efficient and money-saving results.

Car Insurance Costs

All car insurance companies balance similar criteria when considering your application for cover. Companies may weigh those criteria differently, however. For example, Company A may review your age, the car you drive or your driving history and categorize you as high risk. Company B may review the same elements and offer you a much more affordable policy. Comparison shopping is the best way to get the most cover for your money, and comparing multiple insurance companies at once is the most efficient way to find the best deal when purchasing car insurance.Car insurance companies differ also in the discounts they award. Whilst most companies offer a no-claim discount for submitting no claims during a policy period, the discount amounts differ between companies. In time, the heftiest no-claim discounts could accrue to a 75-percent discount after several years of claim-free driving.Car insurance cover costs may vary, depending on your insurance group. As the auto insurance industry grows more competitive, insurers seek ways to gain a competitive edge. One common way to increase business is to target an insurance group, such as mature drivers, senior drivers, women drivers, provisional drivers or newly licensed drivers. Another way is targeting speciality groups, like owners of classic vehicles, performance vehicles, even modified or prestige vehicles.

Covered Benefits

All auto insurance policies, from basic third party cover to tailored, fully comprehensive products, include third party protection. Third party cover, compensating other parties for injuries or property damage if you cause an accident, is the minimum level of auto mobile insurance required by UK law. With most companies, you’ll have a base option of basic third party, third party fire and theft, or comprehensive cover when you purchase car insurance.Third party fire and theft cover pays to repair or replace a covered vehicle if damaged by fire or theft. It usually pays to the maximum value of the auto mobile. Comprehensive cover is the sole cover that pays for accidental damage to your car, regardless of fault. Comprehensive policies might also reimburse for a portion of lost or damaged personal belongings in the car, such as above-standard audio equipment, at the time of loss.Within these three tiered covers, car insurance companies may offer additional options or discounted features to tempt buyers. Some comprehensive policy options include windscreen protection whilst others may increase cost for that option. Some companies allow comprehensive cover for 30 days in Europe, but others might restrict all European cover to basic third party protection only. Compare cover options thoroughly for the best deal to fit your driving needs.

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