Car insurance can be a real nightmare; with a number of traps to fall into and a lot of widely believed myths; it can make finding the right one a real challenge. So to help we’ve put together a list of insurance myths to watch out for.
Going 3rd party is cheaper – 3rd party insurance offers less protection so it’d work out cheaper, right? Not necessarily. Research has shown that many young drivers might find it costs less to fully insure their car on a comprehensive basis.
Once you reach 25 premiums are dramatically reduced – This isn’t necessarily true. Age is a factor, but it’s one of many other factors that’ll decide your final cost. So don’t bank on passing 25 working out better for you.
You’re guaranteed a courtesy car – Most insurers’ provide a courtesy car if yours is in for repairs, but they’re only subject for availability. Plus, it’s only offered if your car is taken to an insurer’s approved mechanic. If it’s been nicked, you might not receive one.
A driving conviction means no insurance – If you’ve been convicted of drink driving or another conviction you can still get insurance. There are some companies out there who specialise in high-risk insurance; expect to pay higher premiums though.
Insuring a vehicle with more than one insurer – You car should only ever be under one insurer. You could temporarily insurer you car with someone else but this is only available if the permanent insurer will not cover the driver.
Loyalty is rewarding – Many insurers say that the longer you’re with them, the more rewards you’ll receive. But you may find considerable savings if you were to switch providers. Make sure you’re regularly checking into other insurers and their prices.
The cheaper, the better – Yes, price is important – but it shouldn’t be the complete deciding factor. It’s important that you’re receiving the right level of cover. When you realise all the extras you might need, what was once the cheapest, could end up being the most expensive.