Purchasing a used car can be a stressful experience, but you then have the added complication of finding the best rates for used car insurance. Insurance is, of course, a legal requirement for any vehicle on the road, so you need to find the right policy immediately.
Types of Insurance
Third-party only is the most basic and affordable form, but it will leave you liable for damage to the vehicle or injuries sustained because of an accident deemed to be your fault. Third-party, theft and fire has the same level of cover with added protection if your vehicle catches fire or is stolen. Finally, comprehensive cover protects you from all of the above with a host of extras – this could include damage to your car even if it is your fault and windscreen damage.
It is important to be aware that even a fully comprehensive policy may not cover everything. If you have purchased a used car which is no longer covered by the manufacturer’s warranty, then it is highly recommended that you obtain an extended warranty. This will cover you in the case of any mechanical or electrical breakdown (which could occur at any time and are more likely in older vehicles), plus you may also benefit from extras, like the cost of a hire car.
Finding the Best Rates
All motorists want the best level of cover, but they also do not want to have to pay through the teeth for insurance and extended warranties. It is for this reason that it is best to shop around specialist independent suppliers – this will provide a high level of cover, but you can also save a huge percentage on the premium. Places like ALA will be a good place to start.
The key to finding the best level of cover at the best price is to carefully read the small print to ensure that there are no nasty surprises. You should also read testimonials on the site of every insurer, as well as look out for recommendations and awards from large names in the automotive industry. It is also worth using comparison websites, as these can do a lot of the legwork for you.
The used car insurance industry can be tricky to navigate and especially if the vehicle is no longer covered by the manufacturer’s warranty. As with all types of insurance, it is better to be safe than sorry so it is important to find comprehensive cover along with an extended warranty.