Insurance

The Search for Cheap Car Insurance: Prioritizing Value Over Cost

car-insuranceWith concepts such as ‘under-employment’ and ‘working poor’ driving economic instability in 2013, it is all too easy for households to become preoccupied with the cost of products and services. While this is an important consideration for citizens, however, it is important that their investment delivers the necessary value for money.

The lowest cost solutions are not necessarily the best, and there is little point in making short term savings if it undermines the value that your purchase delivers. This will ultimately trigger long term costs and leave you considerably out of pocket, especially when you consider financial products such as car insurance.

Securing Cheap and Effective Car Insurance

Car insurance is designed to protect your vehicle over a sustained period of time, but inadequate coverage will render your initial investment redundant and trigger additional repair costs. It is therefore important that you prioritize value over bottom line cost, and select a policy that strikes a comfortable balance between the two. Consider the following steps towards achieving this equilibrium:

Your History as a Motorist

While there is nothing wrong with attempting to secure the best possible financial deal, the price that you pay will be directly linked to your individual circumstances. Your age, level of experience and history as a driver will have a considerable impact on the cost of annual premiums, so you must manage your expectations when comparing potential deals. Try to evaluate prices in line with your personal circumstances, and ensure that your coverage offers suitable protection and a no-claims bonus. While the policy that you settle on may cost a little more than the cheapest options, it will also be tailored to suit your individual needs as a driver.

Developing Room for Negotiation

When you interact with insurance providers, you should never underestimate the power of negotiation and persuasion. The exact terms of a policy can be amended at the discretion of the provider, and this flexibility can significantly improve any deal that is extended to you. Whether you look to include additional features for a fixed monthly premium or seek to reduce the cost of your liability, it is possible use negotiation as a way of securing far greater value for money. If you are dealing with multiple firms simultaneously, it is also wise to use alternative deals as leverage to secure more affordable coverage.

Engage with Firms that Offer Flexible Policies

In quest for affordable, high value car insurance, it is often flexible policies that are the most rewarding. Coverage that has been customized to suit a specific driver and their circumstances has the capacity to deliver excellent value for money, especially when compared with rigid policies that fail to address an applicants needs. While more providers offer this type of coverage in the wake of the global recession, there are still many that fail to offer flexible insurance solutions to their clients. This means that you must qualify providers prior to making a financial commitment, using wither their website or a company representative to gain the necessary information.

The Last Word for Clients in the Hunt for Low Cost Insurance

Regardless of your wider spending philosophy, your decisions as a consumer are often shaped by the amount of income at your disposal. Whenever there is room for flexibility, however, it is important to prioritize value and make this a key driver of your decision making policy when considering car insurance deals. This can not only result in longer term and more substantial savings, but it also offers far greater protection for your vehicle while out on the road.

A post by LewisRHumphries (47 Posts)

LewisRHumphries is author at LeraBlog. The author's views are entirely his/her own and may not reflect the views and opinions of LeraBlog staff.
I am a writer and reseracher who lives in Birmingham, UK. I specilaise in finances and managing savings in a difficult economy.

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