Motor Insurance: A Necessary Evil

by Adam Jaylin

When was the last time that you were happy about paying your
motor insurance premiums? Well I'm sure you don't
remember it or maybe you do as who can forget such nightmares!
The fact is you don't want to pay as you are confident about
your capabilities behind the wheel or just that you don't drive
that frequently but bitter truth is that you just can't drive
without getting your car insured. At least not here in Britain!

Here the whole business of car insurance, for that matter
any form of cheap insurance, is all about earning big
bucks. But the catch is that it's for the insurers only! But
yesterday I came across this rather interesting bit of data
which I'd like to share with all the readers. For the financial
year 2005-06 the UK motor insurance sector lost ฃ0.1 billion! Now
that was shocking as our last ashes victory, which if I remember
correctly was somewhere around that time only! Maybe something
was in the air!

This report I'm referring to is the annual report of Association
of British Insurers (ABI) that states that total premium paid by
people like you and me was ฃ10.2 billion. According to them the
amount they paid us for bumping each other off was ฃ10.3
billion! Now I really want to meet those lucky people! The fact
is that when you go out to shop for motor insurance for
your car or bike you make an investment that needs to be done in
a proper and sensible manner.

You should look for deals with cheapest motor insurance premium
payments that should ideally cover liability for injuries to
others, liability for damage to third party property and
liability of passengers for accidents caused by them! One says
cheapest because anyway motor insurance premiums are pretty
hefty because they cover the amount to be paid for the claims,
for legal and administrative costs and for running the company.

So taking up an online motor insurance deal is a better
option as their running costs are lot less than any other brick
and mortar setup. There are quite a few things that you can do
to cut down the premium amounts of your motor insurance
for you vehicle. Start using the tube as the more you drive more
the chances of bumping someone off in the rush hour traffic will
go up! Then you also have the option of getting an advanced
driver's licence and trust me it works as extra lessons with the
Pass Plus scheme can cut premiums by as much as 35%. The sure
shot way of making the insurer understand the fact that you are
not going to jump any signals or drive over the permitted speed
limit is by getting married! It actually works as married men
attract lower premiums than single men.

So next time you go around to shop for a motor insurance
deal try to remember this fact that you actually can cut
down on your premium payments. All you just need to do is to do
is to stay aware! But if you are a woman you don't even need to
do that as generally car insurance companies will offer cheaper
deals for women not because they are amazing drivers but because
they think that often women drive more cautiously than their
male counterparts. Now we drive on the road so we know what it
is like out there but maybe people who make these policies in
insurance companies don't. I guess they can't afford the
premiums!

About the author:
Learn more about motor insurance and
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