Tips for getting the best price on Auto Insurance

Tips for getting the best price on Auto Insurance

Buying a car is all fun, games, and excitement until it gets to the nitty-gritty of maintaining these cars. Most people think that the headache stops immediately you become the owner of a car, but the untold truth is that that is where the headache begins.

For one, if it’s not a brand new car get ready to take many trips to the automobile shop. That is why your top choice for used cars should always be Car Mart Ng. For two, if it is not a brand new car also, any small hit to the car can end up affecting more than one part. But, whether it is a used car or a brand new car, one thing that is almost inevitable is road accidents.

Not a bad prayer, but why road accidents are inevitable is that in Nigeria a lot of people are careless with the way they drive, and like they say in Lagos, “ just assume everyone is mad on the road when you are driving, and you are the only sane person.” This statement though funny is extremely true, that is how bad driving in Nigeria or anywhere can be. Driving can be a hazardous activity and the best way to prevent any type of ‘had I known’ story is to be insured.

What is Auto Insurance?

Being insured means protecting you against any form of damage. Auto insurance is getting insured or getting insurance for any kind of automobile like cars, trucks, Lorries, motorcycles, bicycles and anything that has wheel that moves on the road. The main need of an automobile insurance is to provide a financial protection plan against any type of unforeseen damage on the car emanating from road accidents.

Auto insurance protects you against any type of financial loss, and it is covered by an insurance company. So whether you own the car or you are driving the car on behalf of another person, there is an insurance package that covers every type of incident.

What is Auto Insurance

A lot of people in Nigeria do not like to get insurance because they do not understand what it is all about. But here, Car Mart Ng has created an article to help you understand Car Insurance in Nigeria and tips on getting the right type of insurance.

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Tips for getting the best price on Auto Insurance

I hope you clicked on the link above before proceeding to this section. If you did then, this section of this article will help give you tips on getting the best price on Auto Insurance.

Tips for getting the best price on Auto Insurance

Not everyone has loads of money to spend on getting insured, while some others do. People live within their means, and if getting an Auto insurance is important to you, then you must be wondering how to get the best deals? The thing is that a lot of Insurance companies charge, an arm or a leg for car insurance and this puts people off immediately. Most insurance companies don’t put out their insurance prices on their website, but they always want you to get a quote.

Don’t fret because a Quote is just a final price on a product, good or service being rendered or sold. So, before going ahead to order a quote, get familiar with these tips.

Tip 1– Conduct proper research. Many insurance companies do not like to list their auto insurance price on their website, so it takes a whole lot of research and patience. Get familiar with the approved insurance companies in Nigeria and scan their website and directories for every relevant information concerning their insurance packages. Check the official website at National Insurance Commission.

Tip 2– Demographic factors. Some personal factors can also affect the price of your Auto insurance, so it’s best to check if they will affect your insurance price in any way.

  1. Age and gender: As hilarious as it may seem, young men, pay higher auto insurance prices than young women, also the same with older men and women. This is so because the two age groups are more about experiencing road accidents than females. So the males have higher rates and better rates than women.
  2. Marital status: There is some research that backs up the fact that married people are less prone to experiencing accidents because they drive carefully knowing that they have a family at home. But single people reportedly experience more accidents. So, your rate can decrease depending on your driving history.
  3. Credit score: Many insurance companies like to go through your credit score before deciding on the type of auto insurance that you can get. Lower credit scores mean higher insurance premiums.
  4. Profession: If you are more likely to get into an accident depending on your type of profession, then your insurance premium can be regulated. If your profession means that you are always on the go, it means that you pay higher premiums than a person who seats in an office all day.

Tip 3- Car related factors. Apart from demographic factors, your car can also affect your insurance price. If your car does not have safety features, then it will cost more to insure, and many other relating factors.

  1. Safety rating: As stated earlier, owning a car does not end the moment you buy the car. Some factors like safety car measures can also mess with your auto insurance rate or price. Some cars do not come with safety features that can help protect the car or passengers against major injuries and owners of such types of cars have to pay higher premiums on their car insurance.
  2. Size of the vehicle: Cars that are bigger in size usually have more protection if involved in road accidents. They can manage to survive some kind of damage, but smaller cars do not have the weight to resist damages. Many large cars with good safety ratings have a lower premium than smaller cars.
  3. Age of the car: if an old car is involved in an accident, the money spent on repairing the car may be higher than the price needed to buy the car itself. In this case, the owner of the car may decide to buy a new car and ditch the car. New cars do not get ditched like older cars, so newer cars have a higher collision coverage rate than older cars, and the higher the coverage rate, the higher the money being paid on premium.

Tip 3- Driving records. If you have a track record of being involved with car accidents, this can affect the price you pay for auto insurance. Most insurance companies do not want to lose out, so they have the choice of rejecting your insurance request or they have the choice of increasing your insurance premium. So if you do not want to pay exorbitant fees, it is better to drive carefully and avoid any accidents that will affect your auto insurance price.

Owning a car is an expensive job, so when adding auto insurance to the list, it is best to get the best prices on any Auto insurance deal. These tips listed above will help you get the best price on Auto Insurance in Nigeria.

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Obianuju Okeke
Obianuju Okeke

She is a Writer, Content creator who’s interested in Gender Equality, Women Empowerment, Lifestyle and Food. When she’s not writing, she’s listening to music, watching Nollywood movies or creating business ideas.

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