Ah, buyer’s remorse. Don’t we all hate it when that great purchase turns into a great nightmare?
You can avoid this by doing your homework before taking out car insurance or getting car insurance quotes online.
Make sure you are properly informed by asking yourself these five questions first:
What level of car insurance do I want?
It’s essential that you know exactly what you want and need from your insurer. Comprehensive car insurance covers you from theft, hijackings, damage caused by accidents, third-party liability, natural disasters and even fires and explosions. If you’re looking for a plan that covers you only in the event of a hijacking, theft or a write-off, certain insurers provide total loss cover, which would be a good option for you. There are also other options that may better suit your budget, so consider this before making your final decision.
What is my risk assessment?
Your car insurance premium will be based on many factors, such as your age or how long you’ve had your driver’s licence. Many insurance companies believe that driving risk reduces with age. If you’re under 25, you’ll most likely pay a higher premium than someone older. Your premium will, however, reduce as you get older and more experienced on the road.
Where is my car parked at night?
If your car is parked on the street at night, the risk of theft is higher and the insurance is therefore more costly. You should, perhaps, also consider more comprehensive cover.
Who will be driving my car?
If a family member will be driving your car regularly or occasionally, your insurer may need to know this, as it could affect the claims process in the event of an accident. Disclose who the person is who drives the insured car most often to avoid the insurer disputing your claim based on incorrect information on your policy schedule.
Will I be able to make a claim in the middle of night?
Accidents don’t always keep office hours, so it’s important to choose an insurer that operates over weekends, public holidays and after hours. This will ensure that, once you’ve reported the incident to the police, you won’t experience unnecessary frustration, delays or complications when you can’t reach your insurance company in the middle of the night.
Ask the right questions before making a decision or reviewing your current insurance, and you’ll be able to avoid those “but I didn’t know” moments.
Don’t suffer from buyer’s remorse when it comes to your car insurance! Choose wisely and get in touch with Old Mutual iWYZE about affordable, comprehensive and reliable car insurance. Get a car insurance quote today.
Old Mutual Insure Ltd is an authorised FSP (FSP12). Risk profile dependent. Terms and conditions apply.