So you’ve decided to replace your car with a new dream car and feel exciting about driving it on the road. But wait a moment!
Have you decided on car insurance yet? Driving your new car without insurance may put in big trouble. So, after buying the car first thing you should think about is car insurance.
It’s not necessary to apply for a new insurance policy for a new vehicle, as you can transfer your current insurance to a new car. It will save you a lot of money.
Here are the ways that you can use to transfer insurance to a new car to save money.
Contact Reliable Insurer
First of all, call your insurer to transfer an existing insurance policy to a new vehicle. You can also consult someone online to know about the process of transferring policy.
Most insurance companies allow customers to transfer their very cheap car insurance online. You just need to log in to your already existing account in the company, add a new car to policy and drop the old car.
If you finance your new car, then you need to provide the name and address of your house or lender to the insurer company. You can enter this information online or can tell them over the phone call.
Once tell the company the details of the car to insurer inquire that you should ask about the total cost of changing the cover. If you are happy with the charge then ok, otherwise you may consult other insurers for a better price.
Ask For Full Car Coverage
Additional coverage is a need when you want car insurance for a new car. If your old Junker is free from any claim regarding the collision, then you can apply for the same collision coverage for a new vehicle at the time of transfer.
It is possible that you may have to charge some extra for additional coverage. This will save you from big trouble when unfortunately you met with a road accident.
But, ask the insurer for policy changes, including terms and conditions to update your coverage.
Factors To Consider Before Transferring Your Old Car Insurance To New Car
Insured declared value: This is the maximum sum that you will receive in case of theft or damage. Therefore, a higher IDV benefit you more when planning to transfer car insurance.
No claim bonus: As an owner of a new car, you have any accumulated NCB. However, for every claim-free year, you will receive discounts on your future car insurance plans. If your old car plan is already accumulated NCB, then check if the same will apply to new very cheap car insurance policy while transferring.
Discounts and offers: Some insurance companies offer discounts when you are a regular customer of them. So, when transferring insurance plan inquire if you get a better plan with just a few bucks extra, then you may buy that more safe policy plan for your new car. So, it is recommended you to check all the plans and offers before finalizing a decision.
As of now, you know about the steps of transferring old car insurance to a new car, try to follow the same for your new vehicle. If you are looking for cheap car insurance UK, you can compare the quotes of insurers either online or by visiting them. But, before finalizing any insurer for transferring the car policy keep in mind the above factors to get the best one.