As more and more members of your family start to drive, car insurance becomes an important cost factor to consider. Insuring yourself is one thing; buying additional insurance policies for your partner and the children is another story.
Car insurance can quickly become a major expense once you start adding more policies to the equation. It is also not a secret that insurance plans for teens and first-time drivers are substantially more expensive.
What you need to get around this challenge is good planning. By taking the necessary steps to plan your insurance purchases, you can keep the entire family safe whenever they drive without paying a steep price.
Consider Your Needs
The first thing you want to do before you begin searching for deals and options is looking into your insurance requirements. What kind of protection do you need? How much insurance coverage are the cars in the family require? What about the coverage types and amounts for individual drivers?
Understanding your needs means being able to find insurance plans that really meet those needs without compromises. It also means you don’t
have to spend money on coverage types that you don’t really need based on your risk profile.
The tempting thing to do is buying the best – often most expensive – insurance policy for your spouse and the kids. There is actually other ways to provide maximum protection without spending too much on insurance premium, including….
Get Certain Coverage as Add-Ons
Getting a certain coverage as add-ons is the more effective way to go in many cases. Rather than relying on the basic breakdown cover provided by a premium car insurance, for example, you can enjoy a more comprehensive breakdown cover for less by buying it as a standalone policy.
When you remove that breakdown cover from your main car insurance, you have more room to negotiate a better deal. The same can be said for the insurance plans for your partner and children. The added benefits you get from the standalone breakdown cover policy also make the deal more lucrative.
Other add-ons to consider include getting a GAP insurance and additional liability insurance. You are not just protecting the safety of your loved ones whenever they are driving, but also the financial future of the family as a whole.
Buy in Bulk
Insurance companies are recognizing the need for more affordable family car insurance, which is why many of them now offer car insurance for family members in bulk. There are more provisions to meet before you can use a family car insurance plan, but they are easy to meet nonetheless.
For example, you can get a family car insurance that also protects first-time teenage drivers without the usual steep premium of an individual policy for teens. However, the car needs to be of a certain kind and there are usually additional terms such as the maximum annual mileage count.
Other family plans bundle the same individual insurance plans, but at a more affordable family price. This means each member of the family can still enjoy the most suitable type and level of insurance protection, and you can save a substantial amount of money along the way.
Compare Insurance Quotes
The insurance market is very competitive right now, which means finding better deals is actually easier than you think. Sometimes, all you need to do is comparing quotes from multiple insurance companies. Don’t forget to mention that you are comparing deals from different insurance companies to make sure that you get the best quotes possible.
The fact that you are looking for insurance plans for the entire family is also worth mentioning. This will qualify you for bulk discounts and other special offers, including the family plan we discussed earlier. You may even get add-ons like the car breakdown cover thrown in as bonuses, making the deal more interesting.
While comparing insurance quotes, you also want to make sure that you dig deeper into the history and reputation of the insurance companies. Getting the best deal alone is not enough. You want to make sure that you can file insurance claims and get the benefits of having a comprehensive car insurance without jumping through hoops.
Check Your Insurance Companies
Most families already use insurance prior to getting car insurance policies. If you already have insurance plans in force, check with the current insurance companies for special deals on the car insurance. Buying multiple insurance policies from the same company, combined with the fact that you are buying policies from the entire family, will land you the best deal possible.
Make sure you utilize the tips we discussed in this article to your advantage. Take your time to find the right options according to your specific insurance needs, use add-ons to gain more control and coverage, don’t hesitate to negotiate for a better deal, and you will have the best car insurance protecting the drivers in your life.