Renewing your car insurance

It is time to renew your car insurance, but what features should you look for in a new policy? Do you choose based on price alone, or are other factors such as medical care and a good no-claims discount more valuable to you?

When getting quotes from insurers, you should be armed with a list of questions just like the ones above. Price comparison sites can help with the search, making it easier and faster, but remember that many companies now prefer to advertise directly.

When comparing quotes from car insurance companies there are several key things you should look for. Number one it the no-claims bonus. Savings can range from a tidy 58% from one-year claim free, to a paltry 27%.

You should also find out how much this can increase to after four or five years with one company. With some insurers it can be around 70%, which means there is no real benefit to switching annually to make the most of new customer bonuses and incentives.

If you do make a claim, some insurers penalise you will reductions of over 20% of your no-claims bonus discount. This is another reason why you need to be armed with questions as well as answers.

There is often more than one person using any one car in a family, but these other named drivers start collecting a no-claims bonus? This is of particular interest for parents insuring their newly qualified teenagers. The market is stacked against teenagers getting their own insurance so being added to mum and dad's policy is usually a much cheaper option. However, if they can't collect a no-claims bonus, then it makes sense for them to actually take out their own policy as soon as possible.

You also need to compare what happens in the event of an accident. What is the courtesy car like? Are you limited to visiting certain garages to get your car repaired? Does the policy include medical expenses and legal protection? These are things that don't automatically spring to mind when purchasing a new policy and although can add to the price of a standard policy may end up saving you money and stress later.

Is it better to buy online or over the phone? Many insurers tend to offer a discount for buying online but some of the best and most specific policies are only available by phone, so it's worth checking both. If you do have questions, it is far easier to speak to a person than to hunt through a website's FAQs.

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