Motor insurance can be a really costly investment in T&T. We are talking about many thousands of dollars spent over the course of several years for coverage. Saving even 10% or 15% of that value will give policyholders a consistent sum of money back in your pocket. Drivers should use https://www.shyft.tt to get free quotes and compare prices from various top insurers!
T&T policyholders can also try the following strategies for lowering insurance costs:
Increase your deductibles (excess).
If you are at fault in an accident, Comprehensive insurance coverage require deductibles before paying the claim. A high deductible means more financial responsibility and lower premiums. The trick here is to find a deductible that can be easily paid when making a claim.
Avoid options for additional coverages you don’t need.
Windscreen premiums are based on your own request for Windscreen coverage limits (i.e. $5,000, $10,000, $12,000 etc.). However, be aware of what a typical windscreen would cost for your brand of car to replace if it was cracked. Also, buying additional medical expenses coverage is not crucial if the policyholder has a solid health insurance plan, like from your company or personal. Or, loss of use/courtesy car is another option that users need to pay more for – but in reality, if you have the ability for alternative transport from your family and friends while your vehicle is being repaired it may be wise to opt out from this.
Check for all available discounts.
Each insurance company provides a series of discounts. Ask your Shyft.tt representative to provide a list of available discounts and prerequisites for each of them. The most common discounts include female driver, low mileage, anti-theft device or car search installed, having other business with the insurer/loyalty to a particular insurer, and of course the no-claim discount.
Be aware of the present day vehicle value (replacement cost of that vehicle).
Make sure you are insuring your vehicle for the correct amount and always as close as market value. Many Trini’s just maintain the vehicle value from when they first brought it and do not practice a standard depreciation value system, and insurers too, would not be too detailed because the premium is weighted to the value. However, in the event of a claim, an insurer adjuster would assess the vehicle age and market value, despite having a much higher sum insured.
Keep the insurer updated with major life changes.
Your insurance company may not be aware that some major aspects in your life have changed. Getting married (safer profile), working from home (driving less) and retiring (also driving less) are very influential for insurance premiums.
Shyft.tt is a popular online provider motor insurance quotes for the T&T public. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, customers have access to offers from multiple insurers all in one place: this website and you can purchase/order your insurance on the spot without having the line-up, take time off work or feel lost along the way.
