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Renewing your vehicle insurance – What to understand

Renewing your vehicle insurance can sometimes prove to be a challenge for owners / drivers. Navigating your way through which options to choose can lead to a substantial difference in the level of service you will receive as well as the cost of an annual premium.

Below we have outlined some of the aspects to consider when renewing your vehicle insurance.

Saving money on vehicle insurance

To save money when renewing your vehicle insurance, owners /drivers should:

  1. Understand existing policy – Often insurers will hike up your insurance premium year on year. Staying with the same insurance provider as a loyal customer, doesn’t always pay. Whilst some years you might accept a little increase for the sake of having to look elsewhere, it is certainly worth monitoring the price and any increase. Furthermore, make a note of the renewal date so that you can plan your next strategy beforehand.
  2. Shopping around – Shopping around for a new insurance policy can save you money. Comparison websites, are great for this task as once you have entered your details, they will provide you with a range of suitable vehicle insurance policies which match your criteria and are rated on price and service level.
  3. Opt for one off fee – Opting to pay a one-off annual fee works out cheaper than choosing a monthly direct debit. Monthly direct-debit options can incur a small amount of interest added to the final price.
  4. Third-party vs Fully comprehensive – Third-party ‘Fire & Theft’ insurance cover is often the cheaper insurance option. However, it is a stripped-down version which protects just the bare minimum elements. It is important to understand this to assess if the cover is adequate, to meet the owner / driver’s needs.

Looking for best service value

If you are willing to pay a bit more, vehicle insurance policies can come with a range of customer benefits to protect drivers and their vehicles. Owner / drivers should:

  1. Assess the benefits – There are many options which can be included within a vehicle insurance policy and can determine a customer’s decision. Aspects like windscreen fixes, road-side recovery, driving in the EU and key cover, may all be options which can be added to the policy for a small fee.
  2. Understand ‘excess’ – Paying ‘excess’ means that if a vehicle is damaged, you will need to pay a one-off fee and then the rest of the financial cost is covered by the insurer. Whilst sometimes the ‘excess’ price might initially cost more, it may give you better value for money long-term.
  3. Fully comprehensive vs Third-party – By paying extra money for ‘Fully Comprehensive’ car insurance, your vehicle is fully covered in the occurrence of accidental damage. It also means that drivers are protected to drive other cars if the policy permits them to do so.

What information will you need to provide:

When applying for vehicle insurance, you will be asked to provide the following information:

  1. Vehicle Registration number
  2. Confirmation of vehicle make and model and that you own a valid logbook.
  3. Details of what the vehicle is used for and where it is stored at overnight.
  4. Your job title and what circumstances the vehicle will be used for.
  5. Driving license details.
  6. Details of any other named drivers who use the vehicle.
  7. Information of any previous penalties or disqualifications. To check your history, please use –

Need Vehicle Assistance?

Stourbridge Automotive is keen to support West Midlands owner / drivers of AudiBMWBMW MINIMercedesJaguarLand Rover & Range Rover vehicles. If you require servicing, maintenance, and repair assistance, then please contact us.