If you’re looking to buy car insurance, you probably want the best deal possible, which means comparing prices and policies from multiple companies before making your choice. Many companies offer online tools that let you do just that, but you should think twice about using them and always make sure to read the fine print! Online insurance calculators can be valuable tools, but only if you know how to use them correctly. Here are 10 things you need to know before using an online insurance premium calculator.
1) Types of cover
If you’re in the market for car insurance and not sure where to start, check out our handy guide below for some of the most important things you need to know before using an online premium calculator.
-You may want to consider your driving record before deciding which type of coverage best suits your needs. -The type of vehicle that you own may also play a factor in what kind of coverage is right for you.
2) Minimum cover
Before you use any kind of car insurance premium calculator, there are some things you should know. The first thing is that there are two basic types of calculators: those that factor in your personal information like your age and gender, and those that do not. A premium calculator without personal information factors in things like the type of coverage you want, the make and model of your vehicle(s), and the distance you drive. These calculators can be handy if you want to compare different packages for different levels of coverage.
3) What does it mean if my premium is fixed?
A fixed premium means that you will always be paying the same amount for your insurance no matter how many miles you drive. If you’re looking for cheaper rates, this might not be the best option for you. Fixed premiums are generally more expensive than variable premiums because they offer more coverage. But if that doesn’t matter to you and all you want is low prices, then this might be the best option for you.
4) Breakdown cover alternatives
Your personal car insurance premium can vary significantly depending on the type of coverage you choose. Liability insurance will cover the cost of damages if you are at fault in an accident. Comprehensive and collision insurance is required if your vehicle sustains damage from hazards other than an accident, such as hail or flooding. Uninsured motorist coverage will protect you against the expense of injury or property damage caused by someone who does not have car insurance.
5) How do I know if my no claims discount will be affected?
There are many different ways that your no claims discount can be affected by the type of car insurance premium calculator you use. For example, if you use an online calculator and put in inaccurate information, such as claiming that your car is worth less than it actually is, then your no-claims discount may be revoked. When using an online calculator, make sure you input correct information and always double-check it before clicking Calculate.
6) Confused about how your car insurance premium is calculated?
It can be tough to determine how much your car insurance will cost, especially if you’re new in the market. There are many factors that go into determining your rate, including the type of coverage you want and where you live. The car insurance premium calculator can help you estimate what your monthly rate might be so that you know what to expect when shopping for rates. However, it’s important to remember that this is just an estimate and it’s not always accurate.
7) How much excess should I have?
The excess is the amount of money you agree to pay in case of an accident. If you have an accident and your excess is $1000, then the insurance company will pay up to $9000 for the cost of repairing your car.
You want your excess to be as low as possible, but still be high enough that if something does happen, it won’t bankrupt you.
8) Should I purchase legal expenses insurance (aka solicitors fees)?
The answer is not straightforward. Remember, solicitors’ fees are only paid when you win the case. If you can’t afford legal expenses insurance, do your best to find out how much the solicitor would charge for their services and use this as an additional way of finding out if it’s worth taking on the case.
9) Worried about what can affect your no claims discount?
No claims discount can be a wonderful thing. The better the no claims record, the more likely it is that your premium will be lower. But while you’re waiting for that new car to come through the door, what can you do right now? Here are five things you need to know before using an online car insurance premium calculator.
10) What happens if my car gets written off?
If your car gets written off or stolen, it can have an effect on the cost of your car insurance. An excess will be added onto your premium and you may have to pay more in order for your insurance company to cover the cost of repairing or replacing the vehicle.