by admin | No comments

How to Get the Most Out of Your Car Insurance

It is important that you know how to get the most out of your car insurance so you aren’t just throwing money away. Most people don’t really think too much about their insurance, which only hurts them in the end. If you really want to get your money’s worth, it is important to follow the tips in this article. We will tell you exactly how to start using this type of policy to your advantage.

Get Breakdown Cover

The first thing you want to do is check to see if you already have breakdown cover with your insurance policy. These days a lot of car insurance policies include this, but some of the time it is an extra feature. If you don’t already have it, you definitely want to consider getting this sort of cover. It can be of great help in a variety of situations, so you need to at least look into your options.

Breakdown cover will provide you with roadside assistance if and when your vehicle breaks down on the road. This can be of massive help if you ever blow a tyre or your car’s battery suddenly dies. All you have to do is just make one phone call to have a technician sent out to your location. You can get this type of help whenever you need it. You shouldn’t need to spend more than twenty or thirty pounds per year for breakdown cover.

Compare Quotes

If you feel like you are currently paying too much for your car insurance, you should really think about getting quotes from different companies. You should also try talking with your current provider to see if they can lower your monthly premium. There is at least a chance that you could save money by doing this. The worst that can happen is they will tell you no. A little bit of negotiating can go a long way with car insurance companies.

Double Check Your Policy

A surprising number of people don’t even know what their current car insurance policy covers, so you will need to take a look. You might have a number of benefits that you aren’t taking advantage of. This can really help you to get the most out of your policy. It is a good idea to review it every once in a while to make sure you have enough cover. You might also be paying for too much. If you find that this is the case, you should opt for a new policy that reflects your current needs. There is simply no point in paying for more cover that you require.

Keep Your Driving Record Clean

Simply being a safe and smart driver can really help you with saving money on your car insurance. These providers usually give the best deals to drivers with a good record. You will have no problem saving money if you avoid tickets and accidents. While it is not always possible to do this, you should make a conscious effort to drive safe on the road. If it has been a while since your last ticket, you might be able to get your provider to cut you a break on your annual fee.

Insure Multiple Vehicles at Once

If you have an entire family to insure with multiple vehicles, there is a good chance that you can save some money. Most car insurance companies are willing to give pretty steep discounts to those who insure multiple vehicles at one time. You will definitely want to keep this in mind if you are planning to buy a policy in the near future.

Don’t be Afraid to Make a Claim

Some people hesitate to make a claim with their car insurance company because they are afraid their premium will go up. If you really want to get the most out of your policy, you will definitely need to do this. There is no point in paying for this type of insurance unless you are going to use it when you need to. Do not avoid making a claim if you have a legitimate reason, because you are only hurting yourself.

Everyone who drives must have insurance, and it is essential that you take full advantage of your policy. Remember to look at your policy very carefully so you can see exactly what is covered. It’s also a good idea for you to know what is not covered. You don’t want to drive on the road with any misconceptions about the extent of your car insurance policy. If you feel like you don’t have adequate cover, you’ll need to correct that as soon as possible. Anyone who doesn’t currently have breakdown cover is really missing out. This is something you should definitely look into immediately.

Read More
by admin | No comments

Is it Best to Borrow from High Street Banks?

The high street banks are the ones that we all know. We know their names, we grew up seeing them and know that they have local branches. This familiarity is something which it is hard to escape from. It can give us comfort that we know the name and have seen them around a lot but does this actually mean that if we pick these lenders that we will be better off as a result?

Being well-known is expensive

It is worth starting by considering why a lender is well-known and the impact of that. Many of the lenders on our high street are not only well-known to us. They spend money on advertising and having lots of branches so that everyone knows them. This is because it is easy to think that because we know a name then they are a company to be trusted. Companies therefore spend a lot of money advertising so that their name is well-known. Unfortunately, that advertising has to be paid for and this means that they can often be dearer than less well-known lenders. This is not always the case, but it is worth considering. This is the same reason why branded foods in supermarkets are dearer than supermarket own brands as you are paying for that brand name and the additional costs that the company have that go alongside it.

Having a local branch is convenient

There is no arguing with the fact that having a local branch can be convenient. It means that if you need to speak to someone you can just go along and see them. Of course, some people may actually find it difficult to get to a local branch and speak to someone and may rather phone up or contact them online. This will depend on whether you are often on your local high street and whether the branch is open when you are. Some people prefer to deal online or over the telephone but sometimes it can be quicker to sort things out face to face.

Reputation is not always good

It is tempting to think that because we know a name that means that they are good. We might have heard of a particular lender and think that must mean that they have a good reputation. However, if you cannot recall why you know the name then the opposite could very well be true. It could be that you only know of them because you have read a negative news story about them or you have heard negative things about them in person from someone you know. However, we do not always remember the details so we may know that we have heard of the lender but may not realise why.  It can be wise to ask around friends, family and acquaintances to see what they think of the lender to see whether your initial intuition is correct or whether you have the wrong impression of them. Remember too that the situation could be reversed and you may not like that lender but may not realise why and so trying to find out what they are really like could be really valuable.

Supporting local employer

If the lender has a high street branch then it will be employing local people. It is good for your local economy if you support a local branch like this. This is because those people it employs will hopefully spend their money locally and will help your local businesses and high street shops to flourish. If you use a lender online form a different part of the country or even a different part of the world then there is very little chance that they will be spending their money locally. The growth of local business is important as it means that there will be more local jobs available for you and your family.

So it may seem rather old fashioned to go with a local lender although we would probably be more likely to trust a name that we know. However, it is worth looking beyond the simple assumptions and think hard about your choice of lender. Think about whether you would like to support a local employer and have the convenience of going into a branch should you need to. Also think about where you know the name and whether you can recall anyone saying positive things about them. But also think about the cost that goes into making a name well-known and how much you will have to pay for that. It could be that the loans will be significantly more expensive as a result of that. However, if you do your research and find out that they do have a good reputation then you may be prepared to pay more to use them as a result. There is a lot to think about and you need to decide which factors are important to you so that you can pick according to your personal needs.

Read More
by admin | No comments

Is the Cheapest Lender the Best?

It can often be tempting to just go with the cheapest lender that we see because it looks like they will be the best. Of course, we do not want to pay more than necessary for anything but it is important to think about value for money when you are taking out a loan just as much as it when you are buying other things. You may not feel it is as important with a loan as it is with something like food, where you want a good taste or with a product that you want to last, but it is worth giving it some thought.

Repayment amount

It is really important to make sure that you will be able to afford the repayments for your loan. If the loan is a quick one it does not necessarily mean that the repayments will be easy for you to afford. This is because it will depend on how many repayments there are. Also, if you just compare the interest rates then you could find that you will have to pay extra in the form of admin charges or other fees which could put your payments up. It is therefore well worth finding out how much those repayments will be. Also check your bank statements to see whether you will be able to afford these repayments. In order to do this you will need to look at what money you usually have left at the end of each month and whether this will be enough to cover those repayments. It might be that you will be able to reduce your spending in some areas in order to afford them. If this is the case then you will need to make a note of what you need to do in order to make sure that you are leaving yourself enough money to cover all of your essentials.  

Repayment frequency / number of repayments

The number of repayments and how often you have to repay will have an effect on how manageable the loan is. It is important to have an understanding of this so that you can consider whether the loan will suit you. Think about the number of repayments and whether you are happy for the loan to last that long. The longer it lasts, the cheaper the repayments will be but as there will be more of them, you will end up paying more for the loan. You will need to consider whether you think that this is worth it or not. You may prefer to have larger repayments and really cut back to manage and get the loan paid off quickly and make it cheaper. However, you may prefer to make smaller payments and have more money left for other things. It could be less stressful for you to not have to worry about how you will manage larger repayments.

Customer service

For some people it is really important to them that the customer service department is good. It can get annoying f we cannot easily get through to customer services and then when we do staff cannot explain things well or are not very polite. Therefore, you might want to check them out first. It can be wise to contact them, using the method you would expect to contact them if you took out a loan and see how quickly and well hey respond to questions you have. It is possible that you might have questions that need answering anyway and this can be a good way to get them answered and see what their customer service is like.

Reputation of lender

Some people would like to go with a lender that has a good reputation. However, it is not always that easy to find out what they are like, particularly if it is a lender that is not very well known. However, there are ways that you can find out more about them. You could start by looking at their own website and finding out things there. You could also look online for reviews to see if anyone has written anything on blogs, websites or message boards about them. It can be better though, to ask people that you know whether they have used them and what they think of them. It can be difficult asking questions like this as you may not be willing to share that you are borrowing money with too many people. However, it can be really useful as people you know are far less likely to have any boas with regards to lenders. Therefore, you will know that what they are saying is right. They are also more likely to have your best interests at heart and therefore will be more helpful.

So, although it may seem like cost should be our biggest priority, there are other things that we should consider as well.

Read More