Why shopping around can get you a cheap van insurance quote
Are you one of the 45 per cent of people who do not shop around before buying insurance?
A poll in December 2010 by Virgin Money found that almost half of Brits didn’t compare insurance quotes before taking out cover. Considering that the Daily Telegraph reports that ‘the Association of British Insurers (ABI) says you can save 35 per cent by comparing as few as five insurance providers’ you don’t even have to do a lot of shopping around to find a cheap van insurance quote.
Our guide looks at why shopping around can help you secure lower cost insurance.
Don’t automatically renew with your insurer.
When buying van insurance, many people simply renew their policy with their existing insurer. Research in winter 2010 published in the Daily Telegraph found that the average insurance customer will actually accept a rise of 8 per cent in their annual premiums before they decide to switch to a more competitive deal.
However, your existing insurer may not offer the most competitive premiums. Insurers often offer discounts and incentives to attract new business and you may find that using a comparison website such as ours can help you find a better value cheap van insurance quote.
Don’t accept the first quote you get.
When buying van insurance it can be tempting to obtain a quotation which appears reasonable and save yourself time by buying that cover straight away.
However, without comparing the costs of cover between a range of insurers it is difficult to know whether you’re actually getting a good deal or not. It only takes a few minutes to obtain a van insurance comparison using our website and it could help you to save money on your premium. Why not try it today?
Don’t compromise on cover.
While many people seek to obtain the best price for their insurance, getting a cheap van insurance quote isn’t necessarily the be all and end all. Many experts also recommend that you check out the quality of the insurance cover before you buy.
Ian Crowder, from AA Financial Services, says it’s important to look carefully at what is actually being offered. He told the Guardian: “You need to understand what you’re being quoted for. Many companies on comparison sites will strip out certain elements of cover and raise excesses to keep quotes down.”
Mike Powell from Defaqto agrees: “To ensure they get the right type and level of cover…people need to focus first and foremost on pinpointing the features they need from an insurance policy and identifying the policies that provide that cover.”
Most van insurance comparison sites allow you to compare both the price of cover and the benefits of various policies. Don’t automatically choose the cheapest policy – as Mr Powell adds: “buying the cheapest cover available could end up being the most expensive option if it doesn’t provide adequate cover.”
