Monday, 8 August 2016

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What to Look Out for when Buying Cheap Extended Car Warranty Insurance

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There are a number of factors and properties of your car that need to be assessed before attempting to buy an extended warranty for your car. Of course, you do not want to cut out essential content and protection offered by a warranty due to being thrifty. With a bit of homework, you can find the perfect package that falls within your budget, providing the best deal for an extended warranty.

The first thing you want to do is work out your budget, just exactly how much can you afford to spend, and which insurance plan falls within your bracket that you can get the most out of. If you’re going to get an agreed value policy (which allows you to decide how much to insure your car for) this is an essential task which will avoid over or under spending.

Next are your needs and what your car is used for. Are you in construction or another job that involves high risks and a higher potential damage to you or your vehicle? Do you mainly drive in urban or rural areas, and which of the conditions associated with each area will you be accommodating for? Is your car garaged at night and whilst you are at work, will it be parked in a safe or guarded are?

The safety level of your car is the next factor on the list, is your car in a respectable state that poses little threat to yourself and others on the road, or do you know for a fact that you pose a hazard to the environment due to the shoddy state of your vehicle? Has your car been awarded the ‘Safe Pick’ rating? A Safe Pick rating is given to vehicles that have provided a collectively generally safe experience on the road, being involved in a low frequency of accidents and protecting the occupants in the event of one. Security depends on what kind of area you live in and its crime statistics. Is there a high level of car theft in your area? It is also important to know just how easy it is to break into your car. 
Once all of these factors have been carefully weighed and analysed, and you know just what you can skip paying too much on and what you cannot, you can begin looking for the correct extended warranty that fits your budget. A decent insurance plan will cover you for weather-related damage, fire, theft and vandalism. It isn’t in your best interest to get a policy that doesn’t cover a wide-range of claims, even if it was for a good price. 

There are a number of pitfalls which will void your insurance across the board. Obviously being involved in an accident and having a blood alcohol limit over 0.05 gets you nothing. If you have a penchant for racing, don’t expect much from any insurance firm. If you transport goods or people, you will need to take out a policy especially designed for these kinds of jobs. Whilst most policies won’t cover lost cash, items such as smart phones, tablets, jewellery and sporting equipment will be covered. 

Interviews with insurance companies have revealed that it is often more expensive to get a premium on a renewal than just getting a new policy. Make sure you know all the figures, and what other insurance companies are offering.

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