New Car Insurance at the Car Insurance Supermarket
The key question is this. Is
there anything about a new car that makes it advisable to approach the
identification and purchase of your new car insurance differently to
how you might obtain cover for any other car? And the answer is... yes.
And no.
Let's look at 'yes' first. Apart from being your little, or not so
little, pride and joy, your new car is expensive. Very expensive. If
you go for the cheapest new car insurance quote you can find (typically
via a price comparison site) and then you crash your new car, you're
going to find that you end up paying a lot more from your own pocket
than you had bargained for.
If you've taken out a car loan and already have the burden of hefty
monthly repayments, the large excess associated with overly cheap new car
insurance could turn out to be a most unwelcome additional cost.
The obvious point here is: don't go for the most rock bottom price for
your new car insurance even although it may be tempting to do so when a
price comparison site shows you how much you could save. Or if you do,
at the very least, check your new car insurance policy details
carefully; so there are no shocks ahead if you do have an accident.
Now let's consider the 'no' response. That is, that there is no
difference between getting new car insurance and insuring an older car.
In other words, the same level of prudence and care should be exercised
in both cases.
In fact, as already hinted at, it is commonplace for motorists to
neglect a key aspect of how price comparison sites should be routinely
used. While they are excellent at finding low cost cover for new car
insurance or for the older car, they are less good at helping you to
work out what the policy includes or excludes.
Gocompare does help with this via its five star rating system but even
that is summary data. You may have to check out the car insurer(s)
directly yourself. Do remember that very cheap
policies provide limited cover and, in fact, going direct to a
reputable car insurance company, taking account of this, is often a
good choice, particulary where direct car insurers are offering special
offers for new car insurance and older car cover alike.
The choice is yours, but do be careful that your are happy with any
compromises you make in terms of the level of cover you have accepted
for your new car insurance policy.
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