Maintaining a safe driving record is important for all drivers. With more than one out of every four drivers having been involved in an accident, it’s no wonder many are scared to drive after an accident. Things like the time it takes to settle an insurance claim, the cost of car insurance, the deductibles, and how quickly you need your vehicle back can be daunting.
You might not know where to begin when it comes to getting the best price on car insurance or what questions to ask that will ensure you get a fair price.
Don’t worry! This guide will teach you everything you need to know about negotiating auto insurance so that you can get the best deal possible. From knowing your needs and making a list of questions to understanding rates and being aware of discounts, read on to learn how to negotiate car insurance today!
1. Know Your Needs
When you know what your needs are, you can make a list of questions to ask and different providers to compare. You’ll be able to evaluate their offerings, cost, and the amount of coverage they offer.
One thing to think about is whether or not you want to insure your car with a company that’s affiliated with your bank or credit union. This may help if there are any future issues with payments, and it may come at a lower price.
Another tip is to get multiple quotes from different providers so that you can have a better idea of the cost for each company.
2. Get a Fair Price
It can be difficult to figure out what the best price is when it comes to car insurance. You don’t want to overpay, but you also don’t want to get taken advantage of either. To get a fair price, you need to know your needs and make a list of questions before speaking with an agent.
What are your needs?
- Do you have a clean driving record?
- How much coverage do you need?
- Are you looking for liability only or comprehensive coverage as well?
- Do you have any add-on policies like rental car coverage or roadside assistance?
Do you have specific restrictions on which companies you can use or what agent has access to your vehicles?
After making a list of questions and needs, it’s important that you know what type of rates are available in your area so that the agent doesn’t try to sell you something more expensive than necessary.
3. Negotiate Car Insurance with a Loved One
One of the best ways to negotiate car insurance is to have a loved one do it for you. Make sure you know what your needs are and what kind of discounts you qualify for. It’s always a good idea to get an accurate quote from many different providers, including ones your parents use. Let them know what you need and they can make all the calls for you!
4. Negotiate Car Insurance without a Loved One
One of the first steps is to set your needs and make a list of questions. This will help you know what is important to you, and it will also help you stay focused on making a fair deal. For example, if you are trying to get the best price possible on car insurance that covers rental car coverage for a short period of time in case your vehicle is totaled, then be sure to bring this up during the negotiations.
When negotiating auto insurance without a loved one, it’s important to understand rates and be aware of discounts. While some insurance companies can offer a discount for people who have been with them for years or who have never had an accident, other companies offer discounts for students or retirees. It’s important to find out what discounts are available and which ones will work best for your situation. While asking questions may feel uncomfortable at first, remember that these questions are there to ensure that you’re getting the best deal possible!
5. What to Do if you Don’t Have Any Options for Discounts?
The truth is that not all insurance companies offer discounts the same way. If you don’t have any options for discounts, you might consider switching to a company that does offer discounts. You can also ask your current insurer if they offer any other types of discounts or ways you can save money on car insurance.
If you’re a good driver and are meeting your premiums, some carriers may offer a multi-policy discount. This means that if you insure both your auto and home through the same carrier, you could get a discount on both policies.
Also, many insurance providers offer partial or even full coverage in the event of theft or vandalism. It’s important to know what deals are available when it comes to insurance so that you know what you want before going into negotiations with an agent.
6. Get the Right Driver’s License Types
Different types of licenses can impact what you pay for car insurance. A driver’s license is a legal document that allows the holder to operate motor vehicles or other conveyances on public highways. The type of license you have will affect the cost of your car insurance. For instance, if you have a Class C license, this means you can operate any type of vehicle in Kenya, including motorcycles and commercial trucks. If you have a motorcycle endorsement on your Class C license, this means you can only operate a motorcycle and will likely be granted lower rates than someone without an endorsement.
Kenyan laws might differ from our neighboring countries’ laws about what types of licenses are required or recommended and how many endorsements are necessary for certain types of vehicles. These factors are important when deciding what type of license to get an understanding how it impacts your car insurance rates. If a state requires at least one class E endorsement, this means your agent will only be able to offer liability coverage; no collision or comprehensive coverage is available with those requirements.
The type of driver’s license you choose can directly impact the cost of your car insurance policy, so it’s important to understand the implications before choosing which type to obtain!
7. Find a New Carrier
It’s worth the time to shop around for car insurance. In fact, many people are paying too much for their insurance because they don’t know about all of the discounts available to them.
Plus, you might not be able to receive your full discount if it is from a company your family already has an insurance policy with. You may be able to get discounts from other companies if you do not have an existing policy with another company.
One way to find a new carrier is by going online and searching for quotes or calling different companies. Another option is by contacting Mwananchi Credit, a microfinance company that has great experience in the insurance industry. We have an insurance agency called Shimin Insurance Agency that deals with different companies that offer low-cost auto insurance in Kenya. Shimin Agency has highly qualified staff who can help you negotiate the best cover for your car.
You can get in touch with Shimin Insurance here! Click here to visit the Shimin Agency Website.
8. How do you negotiate with car insurance from a dealer?
If you are dealing with a dealer, be sure to get all the information about the policy in writing so that there won’t be any misunderstandings later on.
One thing to keep in mind is that if you buy the car and cancel your insurance, the dealer will take back your money for the car but not for the insurance. So, if your car was stolen or totaled in an accident, don’t expect to get any money back from your insurance company or from the dealer.
Look at the following tips to get an insurance policy you need:
- How long you are planning to keep the car?
- What is your annual mileage?
- Do you have any special requirements that should be included in the policy (like trip interruption, rental reimbursement, etc.)?
- What is your age and driving record?
- How much time do you spend on the road each year?
- What kind of car do you drive (sedan or sports car)?
9. Consider Buying an Older Vehicle
One of the best ways to save on auto insurance is to purchase an older vehicle. Younger drivers will have higher premiums, as insurers assume they will be more likely to be involved in a collision. Older vehicles are typically less expensive than new ones which mean they will also come with a lower premium. If you don’t need a newer car for work or other purposes and want to save some money then consider buying an older model that costs less on the insurance front.
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10. The Time it takes to settle an insurance claim
One thing that many Kenyans are unaware of is how the time it takes to settle an insurance claim affects their rates. Insurance companies often base their rates on risk and each state has different requirements for what it takes to be considered a high-risk driver. If there is a lapse in your insurance coverage, you will be considered high-risk until you have at least six consecutive months of coverage. Negotiating your car insurance can help cut down on the time iclaim,s to settle an insurance claims and they may not need as much information or proof.