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Stop Paying So Much Insurance For Your Car!

Buying insurance car is a form of financial protection against the loss of theft, which we all need to have. The risk of theft and damage are ever present, and you should do whatever you can to have a financial plan in place in case of those incidents do occur. There are many types of car insurance on the marketing. You can buy insurance for your car which covers the bare minimum, and then you get insurance for your car which covers all of the unwanted scenarios.

Insurance brokers or insurance agents are the people who sell you the car insurance. They make a commission off the sales of different products. Many times an insurance broker will want to sell you an insurance product which will earn a higher commission, selling you more insurance than what you need. Which leads one to the question, ‘Are you paying too much insurance car? ‘, and if so how would you know?

When you hardly drive your car

If you pay insurance for your car but you hardly drive it, then you could be paying too much for car insurance. Recently pay per drive car insurance policies have become popular. Pay Per Drive, means that you pay insurance according to the amount of kilometres you drive on a monthly or yearly basis. Due to high fuel prices, a good public transport system, or a work from home job, many people hardly use their cars. You may have car insurance for many years now and either not know that this type of insurance is available to you or it is not offered by your insurance company. You could be paying much more for your car insurance if you drive your car infrequently, yet have not switched to a pay per drive car insurance plan. Speak to your insurance company about this option. If they do not have it then find a car insurance company which does offer this type of insurance and you can save yourself a lot of money on monthly car insurance payments.

You have collision insurance for an old car

Collision coverage is not worth it if your car is old and not worth much. If you find yourself in an accident with your old car, and the damage is bad the car could be considered a total loss by the insurance company. This means that they will only give you back the money which the car was worth. You could be paying much more in monthly premiums, than what your car is actually worth. A car insurance company will not give you back the excess amount you have been paying in monthly premiums, which means that you lose that money.

These are two indicators that you are paying too much for your car insurance. If you are paying too much insurance car do not be afraid to dispute it, it is your money after all! If they are not willing to give you a cut in your premiums then it is time to make a switch.

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