None of us do not want to save some money when buying an insurance policy for your car, so we are going to discuss in this article some tips that will help you choose the cheapest and best insurance for your car.
13 tips to get the best and cheapest car insurance
1. Extensive research and comparison of insurance companies
You have to search for the offers of auto insurance companies and choose the best one for you and your needs, and due to the availability of the internet, searching and comparing insurance companies has become easier than in the past.
2. The cheapest is not always the best
You should not make the price factor the basis of your choice of the insurance company of your car, you should know that the price of the insurance policy differs according to the privileges in the insurance policy and the exceptions that, if achieved, will not obtain compensation , and you should know that new companies that do not have experience in the market and companies that do not have a strong credit rating and do not have much economic solidity, since the prices of insurance policies in it are cheaper than others.
But what would you benefit from if you had an accident and couldn't get compensation because the insurance company did not have enough money to pay compensation due to your poor choice of insurance company?
3. Discount for special groups
to. Some insurance companies in some countries offer discounts to the military and employees of some sectors in the auto insurance policy.
YES. Outstanding college students in some countries get a reduction in the prices of auto insurance policies.
4. Integrated bundle reduction
Some companies will give you a discount if you buy a complete insurance package, such as insurance for your car and insurance for your home against fire.
5. Environmentally friendly cars
Electric and hybrid cars In some countries, insurance companies lower the price of their insurance policy compared to cars that use gasoline, so you are helping the environment and helping yourself.
6. Reduction due to protection measures
Some insurance companies in some countries require to obtain a reduction in the price of auto insurance that you put the car in a garage and not put it on the street, and other companies require that to obtain a discount in the price of insurance, they provide to auto tracking devices and anti-theft devices like alarms.
7. Stay away from coverage you don't need
You should examine the features of your policy and exclude the things you don't need, such as storing your car if you get stuck in the SUV or renting a car from you until your car is repaired or accident insurance coverage in neighboring countries.
For your information, if you are a person who travels off-road, then surely off-road assistance is a basic feature that should be in your document, and if you travel with your car to neighboring countries, the advantage of car insurance in neighboring countries It is important.
8. Make your payments annually
Paying your annual insurance premiums can save you up to 8%.
Tips and things to pay attention to when buying a comprehensive car insurance policy.
9. Coverage limits:
You should know that you will not be compensated for any damage greater than the value of the loss to the car and that the purpose of the insurance is to return the car to the condition it was in before the accident, no more, no less.
Therefore, you must inform the insurance company of the estimated real value of your car, so do not increase the value of your car or reduce its value because the insurance policy is a document of compensation for damages and not a document to make you rich Quick.
10. Consumption ratio:
The idea of depreciation that is applied to the subject matter of the insurance is mainly due to the principle of compensation, which aims to place the insured in the same financial situation in which he was before the claim took place, and this method is widely used by insurance companies as a means of compensation for real value. For damages caused by a covered claim, taking into account the useful life of the spare parts consumed.
Example: If a car has an accident that results in the car being completely damaged after six months of insurance, and the value of the car is 70,000 rials when purchasing the insurance policy, the insurance company will not compensate the insured for the total amount, but will deduct the amount of the car's depreciation. For a period of six months.
11. Tolerance relationship
Many friends asked: What is the tolerance rate?
The deductible percentage is the percentage that the client accrues from the compensation when the risk arises, and the load percentage is used mainly in automobile and medical insurance, and if the value of the damage is less than the deductible percentage, the value of damages will be borne by the insured. Only what is more is borne by the insurer, which is the insurance company, and it is known that the higher the deductible, the lower the value of the insurance and the lower the deductible or zero, the higher the value of the insurance.
For example, in Egypt, the average deductible value on car insurance is 3% at 4 pounds per 1000 pounds, and in Saudi Arabia the average deductible value on car insurance is 2,500 riyals.
The deductible percentage imposed by the insurance company on the insured to ensure that the client takes all measures that reduce risk.
And for your information in some comprehensive insurance policies in Saudi Arabia and some other countries, the insured is exempt from paying the deductible amount, as long as a third party (the third is another car) is present in the accident and the third party is 100% responsible for the accident and that the information of the third party is known and accredited in the report. Traffic so that the third party is not found loose or unknown, and that the damage to the insured vehicle is estimated and these estimates are confirmed in the traffic report.
12. Deduction for no claim:
Some insurance companies give the insured (the vehicle owner) a discount called a "no-claim deduction" whereby the insurance premium is reduced for the following year because the insured did not file a claim with the insurance company and the absence of your accident history during the previous insurance year. Encouraging drivers not to commit car accidents and, in return, some insurance companies increase the insurance premium for the new insurance year if the insured submits a claim to the insurance company during the previous insurance year.
13. Exceptions to the insurance policy:
It is necessary that you know the cases in which the insurance company is not responsible for compensating you for damages that may be caused to your vehicle as a result of an accident, which are mentioned in the document under the title "Exceptions" or "Exceptions to coverage limits "or" General Exclusions. " Example:
to. Hazards from natural disasters such as earthquakes or floods
YES. Driving a car without a valid license or by a person under the influence of intoxicants.
C. Dangers from driving a vehicle by a person under the age of 21 (in Saudi Arabia).
Paying your annual insurance premiums can save you up to 8%.
Tips and things to pay attention to when buying a comprehensive car insurance policy.
9. Coverage limits:
You should know that you will not be compensated for any damage greater than the value of the loss to the car and that the purpose of the insurance is to return the car to the condition it was in before the accident, no more, no less.
Therefore, you must inform the insurance company of the estimated real value of your car, so do not increase the value of your car or reduce its value because the insurance policy is a document of compensation for damages and not a document to make you rich Quick.
10. Consumption ratio:
The idea of depreciation that is applied to the subject matter of the insurance is mainly due to the principle of compensation, which aims to place the insured in the same financial situation in which he was before the claim took place, and this method is widely used by insurance companies as a means of compensation for real value. For damages caused by a covered claim, taking into account the useful life of the spare parts consumed.
Example: If a car has an accident that results in the car being completely damaged after six months of insurance, and the value of the car is 70,000 rials when purchasing the insurance policy, the insurance company will not compensate the insured for the total amount, but will deduct the amount of the car's depreciation. For a period of six months.
11. Tolerance relationship
Many friends asked: What is the tolerance rate?
The deductible percentage is the percentage that the client accrues from the compensation when the risk arises, and the load percentage is used mainly in automobile and medical insurance, and if the value of the damage is less than the deductible percentage, the value of damages will be borne by the insured. Only what is more is borne by the insurer, which is the insurance company, and it is known that the higher the deductible, the lower the value of the insurance and the lower the deductible or zero, the higher the value of the insurance.
For example, in Egypt, the average deductible value on car insurance is 3% at 4 pounds per 1000 pounds, and in Saudi Arabia the average deductible value on car insurance is 2,500 riyals.
The deductible percentage imposed by the insurance company on the insured to ensure that the client takes all measures that reduce risk.
And for your information in some comprehensive insurance policies in Saudi Arabia and some other countries, the insured is exempt from paying the deductible amount, as long as a third party (the third is another car) is present in the accident and the third party is 100% responsible for the accident and that the information of the third party is known and accredited in the report. Traffic so that the third party is not found loose or unknown, and that the damage to the insured vehicle is estimated and these estimates are confirmed in the traffic report.
12. Deduction for no claim:
Some insurance companies give the insured (the vehicle owner) a discount called a "no-claim deduction" whereby the insurance premium is reduced for the following year because the insured did not file a claim with the insurance company and the absence of your accident history during the previous insurance year. Encouraging drivers not to commit car accidents and, in return, some insurance companies increase the insurance premium for the new insurance year if the insured submits a claim to the insurance company during the previous insurance year.
13. Exceptions to the insurance policy:
It is necessary that you know the cases in which the insurance company is not responsible for compensating you for damages that may be caused to your vehicle as a result of an accident, which are mentioned in the document under the title "Exceptions" or "Exceptions to coverage limits "or" General Exclusions. " Example:
to. Hazards from natural disasters such as earthquakes or floods
YES. Driving a car without a valid license or by a person under the influence of intoxicants.
C. Dangers from driving a vehicle by a person under the age of 21 (in Saudi Arabia).
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