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Used Car Insurance: A Guide
Buying a used car can be a daunting yet ultimately rewarding process. Finding your perfect second hand motor can leave you feeling overwhelmed by relief. Yet insuring one is a further minefield to cross. As a specialist used car website, we can advise you on all aspects of owning a second hand car, including the matter of insurance. Whilst insuring a used car generally requires the same steps as insuring a new one, it is important to remember that a different approach may needed when hunting for the best deal. Premiums may be lower as if a second hand vehicle is damaged or stolen; the insurer’s potential loss is less than that with a new model, so the company can charge less for coverage. At the same time, the age of a car doesn’t affect its ability to inflict damage on other cars or its likelihood of being involved in an accident, so liability rates will remain the same.
The first thing you should decide is how much physical damage coverage you need on your car. If your car now holds relatively little value or is in poor condition, collision coverage may not make financial sense. It might be better to opt for slightly less coverage with lower payouts at a smaller premium. Similarly, you may consider a higher excess with a used car than you would with one straight out of the factory. It may work out cheaper for you to pay for reasonably minor repairs instead of risking an inflated premium the following year. Obviously the used car market is incredibly varied, so make sure you are taking decisions that reflect your best interests.
However, being aware of factors relating to used car insurance doesn’t mean you should neglect standard advice provided about car insurance. Ultimately your insurance premium is based on your record and as a driver and the history of the particular model of your car. A chequered driving history can sometimes be improved by attending educational courses, whereby attendance leads to the removal of points from your licence. As time goes on, it is important to review whether your policy continues to reflect your needs. The easiest way to get a clear view of the options available is by shopping around online. There’s an intriguing array of online promotions out there, purchasing a policy from Kwik Fit Insurance means you qualify for a 10% discount on a vast array of products and services at Kwik Fit centres*. Taking into account these general tips as well as being aware of your particular needs as a used car owner means you can easily find the right car insurance option for you.
*For further details of this promotion and their Car Insurance policies visit the Kwik Fit Insurance website.
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