The competition watchdog are considering measures in order to achieve a cheaper car insurance yearly premium for drivers but will it work? After an accident in which your car or anyone else\u2019s property whilst you are in your car is damaged the insurance company you pay for initially pays the bill within the claims process which is what you pay a monthly\/yearly fee for. The issue with this is that after they have footed the bill they will just raise the costs of your insurance for the next year in order to get some of their money back.<\/p>\n
The issue has been highlighted by one of the leaders of the investigation who has said \u201cthere is insufficient incentive for insurers to keep costs down\u201d which implies that there is going to be a real mountain to climb in order to actually reduce the cost of insurance. The watchdog are aiming more towards making the drivers own insurer responsible for providing a replacement vehicle or give the one who was at fault in the accident the opportunity to take control in the management of claims.<\/p>\n
Since it looks unlikely that any proposed plan is going to help lower insurance significantly here are some tips to help out:<\/p>\n
1.<\/strong> Mileage \u2013<\/strong> Make sure that you are accurate in estimating your mileage, we know its hard but if you over estimate you are effectively throwing money away, however if you under estimate it could cost you more if you need to claim. The competition watchdog are considering measures in order to achieve a cheaper car insurance yearly premium for drivers but will it work? After […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[110],"tags":[],"class_list":["post-16106","post","type-post","status-publish","format-standard","hentry","category-travel-news"],"yoast_head":"\n
\n2.<\/strong> Modifications \u2013<\/strong> Don\u2019t modify your vehicle it\u2019s just not worth it, it will end up costing you a lot more on your premiums for doing so. Avoid messing with your car.
\n3.<\/strong> Third Party \u2013<\/strong> If your vehicle isn\u2019t valued high it can be more worthwhile getting third party insurance instead of comprehensive as it should be considerably cheaper.
\n4.<\/strong> What Do You Use Your Car For? \u2013<\/strong> Makes you do some research around this, what you work as can change your insurance premiums significantly so slightly altering your job title may save you quite a bit of money
\n5.<\/strong> Security \u2013<\/strong> Keeping your car in your garage if you have one is the cheapest place to keep it in regards to insurance<\/p>\n","protected":false},"excerpt":{"rendered":"