Will Budget Insurance Offer Adequate Cover?
When you get a product or service for cheaper than you anticipated, you instantly expect that the product is below standard or that there’s some or other catch that you must watch out for. And in a lot of cases, the milk or low fat yogurt that you bought on special went bad in a day or 2 and the pair of pants that was discounted by 50% shrunk after the first time you rinsed it. Does the same go for budget insurance?
If insurance policy prices are too good to be real, it’s likely that it is! But, that being said, every rule has an exception! For that reason, budget insurance does not necessarily mean that you will receive inferior cover, or that you may have an enormous excess amount to pay every time you claim. Neither is it linked to poor and less than efficient service.
If you are searching for more reasonable insurance plans there are a variety of things that that you can do to guarantee reduced premiums:
Try to keep your insurance record as clean as possible. Of course accidents happen and all insurance firms understand this, however , if you’ve had 12 bumper bashings in the past 24 months and they were all your fault, this can be frowned upon.
Get hitched! Okay, I am kidding (a little bit though!) Married persons are regarded as lower risk clients than single individuals. The reason for this is that insurance companies see matrimony as a sign of accountability and commitment.
Normally if you have a wife or husband or a household to look after you won’t be taking reckless chances by driving a car like a maniac on the roads.
Older persons can qualify for budget insurance more easily. Similar to being married, older people are also seen as more established people – not risk takers and adventurists like many younger individuals. Naturally you cannot do much about your age, but it is possible to nominate an older driver as a 2nd driver on the vehicle.
Opt for a higher voluntary excess payment. An excess payment is the payment that you must pay if you want to claim from your insurance coverage. This isn’t dependent on whose problem the crash was or what the claim amount is, an excess amount is always payable by the insurance policy owner and the amount will also be a predetermined amount. If you decide to pay a higher voluntary excess once you claim, your monthly premiums will in most cases be lowered but just use caution that you are not shooting yourself in the foot along the way. It’s no use if your excess amount is so high that it actually surpasses the claim amount.
The final and most obvious thing to do is to shop around! Compare and contrast quotes from different insurance companies – the more the better! If you’re not satisfied with what one company is offering you, move on to the next! Probabilities are that you will be able to obtain a budget insurance policy with comprehensive insurance cover!
For more information on budget insurance visit our site on http://www.insurance.co.za
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