One of the more confusing aspects of arranging a car insurance policy is trying to pin down the best quote. It seems that the constantly changing premiums mean that the company offering today’s best deal may no longer be the most attractive by tomorrow. It’s little wonder that many people shopping around for a good deal are prompted to ask insurance companies ‘why do your car insurance quotes keep changing?’
The need for changing premiums
Insurance companies frequently review the deals they are offering. In fact, prices can change every day. However, a quote is normally valid for a set period of time. It can be as much as 30 days, but it may be less than that, so you need to make sure you don’t run out of time when you receive a quote that you’re happy with.
Waiting to take action is a bit of a gamble. The price will change and it’s possible that it might get cheaper if you hang off for a couple of weeks. Of course, the reverse is also true, and it might become more expensive if you delay taking out the policy. The safest way to proceed is to take action if the price is within your budget and you’re happy with the level of cover.
A choice of providers
Although all insurers change their prices, direct companies will take a different approach to brokers or comparison sites. Direct insurers sell their own product. So if you visit their website or call for a quote, they will only be able to discuss their own policies, even if they are more expensive than what’s on offer elsewhere. In contrast, comparison sites and brokers will take your details then look for the best option to suit your circumstances.
Arranging the cover
It’s normally only possible to buy a policy no more than 30 days before you want the cover to start. That’s why it’s normal for the quote to be valid for that amount of time.
One of the reasons for changing premiums is the need for insurance companies to have a spread of risks. If lots of drivers in a particular category take out a policy, the company may want to attract another group of drivers. That could mean seeking to avoid those of a certain age, particular vehicle types, or possibly even workers in certain industries. As a result, if you happen to fall into the right group of drivers, you might get a more attractive premium.
Another factor that can mean higher costs can be any modifications to your car, as these vehicles can be more expensive to repair, and in some cases may be more likely to be involved in accidents.
The nature of your job, your address and whether you rent or own your home can also feed into the premiums. If your circumstances change during the period of your policy, you should tell the insurer as it may affect the cost. If you fail to disclose the information, any claims you make could be turned down.
You also need to inform the insurance company if you are convicted of a driving offence while the policy is in force. Some companies may charge an extra premium, and your next policy will certainly cost more.
Do your research, and don’t delay once you see the right quote
The important points to bear in mind when you’re searching for the best deal on car insurance are to do your research and shop around to find the most competitive quotes, and once you’ve seen one you’re happy with in terms of price and level of cover, don’t delay in agreeing to it. If you hesitate for too long, you might find the price goes up.