How to Find The Best Car Insurance

Most vehicle owners can attest to their love for their cars. And while we completely understand the relationship between a beloved vehicle and its owner, it is important to note that actions speak louder than words. Comprehensive car insurance is a must-have in the day and age that we live in – considering the high crime statistics, coupled with the fact that transportation is now no longer considered a luxury but a crucial part of everyday life and business operations.

More and more people are investing in purchasing their own vehicles, while others may be looking into how to better maintain their cars and plan for emergencies in the future. Car insurance is a viable solution for both of these scenarios and allows vehicle owners the financial freedom that they need to plan ahead for other aspects of their financial futures. Finding the best car insurance that suits your needs and complements your budget may be as easy as settling in with a cup of coffee and this blog. So, sit back and enjoy the ride.

How to find the best car insurance at the best monthly premium:

  • Do your research into the insurers out there and see how they rank in terms of monthly premiums, level of cover, and claims process and payments. The best car insurance is one that will cater to your specific insurance needs and align with your monthly budget.
  • Buy a vehicle that will cost less to maintain and less to fuel. High-performance vehicles are not always the best idea as they can be costly to maintain, repair, and replace.
  • Talk to your insurer and set a “comfortable” excess. While you may have to pay more in excess should the need arise, your monthly premiums are then automatically reduced. Set aside funds every month in a savings account to help pay for excesses in the future.
  • Compare online car insurance quotes to find the best possible insurance solution, tailored to you.
  • Limiting your mileage is another great way of getting the best car insurance.
  • Improving the security of your car can greatly affect your monthly premium. Installing an alarm or a tracking system on your car can help to reduce your monthly premium.
  • Consider speaking to your insurer about paying your car insurance premium annually. This way, you free up some of your future financial responsibility while possibly getting a discount on your annual rate.
  • Be sure to state the correct regular driver on your policy. The last thing you need is to be blindsided by an unforeseen financial curveball.

The best car insurance is found in a comprehensive packaged deal which tailors to its client's needs.

There are also a few factors that can negatively influence your car insurance premiums and knowing what they are will assist you in your quest to finding the best car insurance. So, what are those factors?

Factors that influence car insurance premiums:

  • The experience factor
    Less experienced drivers are considered to be more of a risk, therefore, car insurance for a less experienced driver is more expensive than for someone who has been driving for longer. The best way to prepare for this reality is to have car insurance in place for a rate suited to your budget and specific coverage needs.
  • Relationship status
    No, not the one on your Facebook profile, we are talking real-life stuff. Although the effect on your car insurance premium is minimal, your relationship or marital status can affect your monthly premium in general.
  • Ownership status of the vehicle
    Car insurance premiums are dependent on the ownership status of the vehicle. Premiums could shift depending on whether the vehicle is owned or leased by the individual.
  • Location
    Your car insurance premium is affected by the area that you live in and high-risk areas will result in higher monthly premiums.
  • Insurance claims history
    Your claims history can have an impact on your premium, and if you have a long history of insurance claims, it could result in a higher premium. Having said that, it is important to be honest with your insurer about your claims history. 

While these may not be the only factors that influence car insurance premiums, they are a good place to start when doing more in-depth research into your financial future.

For the best car insurance rates and an insurance package that allows you to live your way, give MiWay a try for a good car insurance experience and competitive premiums to boot!

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