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Guide To Navigating Your Way Around Car Insurance

Buying UK Car Insurance - How Does It Work?

As is the case with other intangible, service-oriented products, the key to a good car insurance buy is to get the best value for the money. Car insurance is a unique product in that is required by law for all UK motorists, Third Party Fire and Theft (TPFT) is the basic legal requirement, and people who pay for it typically hope they never have to use it.

We should also mention that it is a product which is becoming harder to find too. Not many insurers are finding their way to selling this anymore, and it is almost a certainty they if you have 4 or more NCD then your car insurance quote for Fully Comprehensive Car Insurance will actually be lower than a TPFT quote. Not always, but often enough to mention. Did you also know that you only qualify for a Gap Insurance policy if you have fully comprehensive car insurance? Thus, consumers need to know how to get the best peace of mind protection with their insurance buy, at the very best premium price available to them.

The first step in the process of buying car insurance is to explore all the options. The advantage to shoppers today is that the Internet has expanded the amount of available resources and allowed consumers greater access to the best products and best prices, through online specialists. Online insurance brokers typically work with many insurers to offer customers access to the best value insurance products. Some pass on discounts which they have negotiated with the insurer on your behalf and other share their commissions with their customers to make their insurance quotes more competitive and therefore more attractive to you. Then there are the car insurance comparison websites. Today theses businesses are major players and the number of UK motorists buying directly through Insurance Comparison Websites has reached far into the millions per year! That really is a great way to save money on your next motor insurance quote, but also a fantastic way to save hours of your precious time!

If you do buy a new car from a new car dealership then you will most certainly be asked about Gap Insurance. So now you have a second insurance to think about. Lets quickly explain about what GAP insurance is and why it is an important part of the cover on your car. Gap cover is an addtional insurance product and NOT a legal requirement, so you do not have to buy this cover. Your circumstances and needs should dictate whether or not you require gap protection. 

Andy Bendell - Marketing Director of Future45 Ltd said "GAP stands for 'Guaranteed Assett Protection'. Simply put, GAP Insurance covers the depreciated value of the car in the event it is declared a write-off through accident or theft. The Comprehensive Insurance pays the owner the value of the car based on the date of loss ...GAP pays the difference back to the value at policy inception. Policies can also provide payment back to the invoice price and even cover the outstanding finance. Cars can lose up to 70% of their value in the first 3 years and up to 10% the minute they leave the dealers forecourt". 

Insurance specialists also help by working with motorists to be sure they have legally required insurance protection, including liability, and the necessary protection for the individual's circumstances. There are several types of car insurance, including comprehensive, collision, liability, medical, and uninsured and underinsured protection that covers costs when another driver is not adequately insured. A FSA regulated insurance specialist balances the desires of the consumer for low cost premiums with recommendations of important coverage.

There are some things that motorists can do to help obtain ideal premiums for given protection plans. Essentially, a motorist's premiums are based on a risk assessment from the insurer that takes into account characteristics of both the driver, the area of the UK that applicant lives in and the vehicle to be covered. Drivers that have an established record of safe driving and those that are covering vehicles with optimal safety features such as industry accepted car alarms etc. typically receive the lowest cost premiums.

Savvy consumers should also know that many insurers offer various other discounts. For instance, combining two driver's policies or combining multiple insurance products with the same company can produce discounts. Other insurers offer special discount incentives for online purchases. Motorists must most importantly take the time to look around and explore car insurance plans and prices before buying car insurance. Pitting car insurance companies against each other forces them to present potential buyers with best offers. There are some great online insurance specialists who present learning tools and resources, offer quick search product comparisons, and excellent service for insurance customers.

When comparing new car insurance consider the age of your car and its value. Car insurance does have a shortfall, particularly on new cars, and that is why gap insurance exists. We pay out the money your car insurer does not! That's your car depreciation since the purchase. Buy GAP insurance to protect yourself from the losses new car owners experience due to depreciation. For a free no obligation quote click on our main menu quote button or phone us on 0844 357 8300 (Maximum call charge from a BT land line is 5p a minute. Calls from other networks may vary)

The opinions expressed are those of the author and are not necessarily held by the Click4Group unless specifically stated. The material is for general information only. Always obtain independent, professional advice for your own particular situation.