How to find a cheap auto insurance company
A company that offers cheap auto insurance but good customer service and great features is a dream of most car owners. Finding the best deal takes time, as it involves a lot of research and a comparison of prices and companies. To help you out, personal finance and research site NimbleFins has put together a list of the top 10 cheapest car insurance companies in the UK. These companies were compared on factors such as Trustpilot customer ratings and independent professional reviews.
Not all companies will suit all drivers or offer the best deal for motorist and vehicle, but some companies can stand out with good customer reviews, features and costs.
The comparison results rank the top three cheap auto insurance companies as:
1. LV =
2. 1st Central
But finding a cheap auto insurance company isn’t the end of the process because that doesn’t mean they’ll offer the best deal for every situation or be the right choice for every driver.
The key to finding the best auto insurance deal is research and comparison. Even more important when it comes to finding the cheapest insurance option.
By taking the top rated companies and comparing their offerings, you are more likely to find the most suitable policy for the best price.
There are several ways to lower the price of a policy.
Insurance costs vary widely, and this is based on several factors.
The type of car insured plays a role in the price, as the premiums are calculated based on the pricing of the vehicle’s insurance group. This rating ranges from 1 to 50, with the lowest rated cars being the cheapest. The rating itself is decided based on factors such as the cost of repairing the car and the cost of replacing it.
Next, the car owner needs to decide what kind of coverage they need, whether it’s third party, fire and theft, or full coverage. Although liability insurance is the lowest level of coverage available and the legal minimum, that doesn’t necessarily mean it’s always the cheapest, so it’s important to get quotes for all types of coverage. for comparison.
To get the cheapest insurance, there are pitfalls to avoid, including the extra extras that come with a policy. Most insurers offer breakdown coverage or a courtesy car, but it is important to decide if they are necessary as they will increase the cost.
Going for a higher deductible can also lower the cost, provided the policyholder is happy to pay the deductible when needed.
Compare auto insurance from several companies
The most effective way to find the best auto insurance deal is to compare quotes.
Insurance prices can vary widely from provider to provider, so it’s important to collect quotes from multiple companies.
Comparison is also necessary to decide what type of insurance coverage is best for the motorist and to get the best price. The third is the statutory minimum level of coverage required for vehicles in the UK, which provides coverage for other vehicles and property in the event of an accident. But while this doesn’t offer coverage for the policy vehicle, it doesn’t necessarily mean it’s the cheapest option, making it more important to compare prices for different levels of coverage. .
NimbleFins has analyzed dozens of car insurance providers in the UK, comparing them in terms of price and ranking them based on customer reviews and independent professionals.
The ten cheapest companies on the list are:
- LV =
- 1st Central
- the elephant
Using these companies to collect a number of quotes is a great way to compare market prices and find a cheap insurance policy with great features and customer service.
There are other ways to reduce the cost of an insurance premium. One of them is to have a black box or telematics installed in the vehicle to assess the competence of the driver. This is especially beneficial for young drivers who face high premiums to get a cheaper policy.
Safe driving can also generate claims, which, when researching a new policy, may mean you are eligible for a non-claims bonus. However, it is important to know that this discount is only valid for new policies and the second year will likely see the cost increase.
Try an auto insurance comparator
Comparing insurance providers is extremely important, but it also takes time to put all of these quotes together and look at the reviews for each provider.
The easiest way to compare prices is to use a price comparison function like the one offered by NimbleFins, mentioned above, or QuoteZone, Compare the Market or Confused. There are other options on the market as well.
This comparison is important when first looking for a policy and just as important when renewing to ensure the best deal is found. If a driver finds a better price on a comparison site, that can be passed on to the current supplier to see if they can match it.