Shopping around for the best deal on cheap car insurance has never been easier. By using insurance comparison websites such as Get Car Insurance you can obtain quotes from numerous car insurance companies in minutes, just by completing one simple online form. No longer need you feel tied to your existing insurer, just because it might seem easier to remain insured with them. Car insurance is big business and every insurance company would like to get their hands on your custom. And once they’ve got their hands on your custom, they would sure like to keep it. Hence many car insurance companies are nowadays offering all sorts of attractive bonus and reward schemes in a bid to get and keep your valuable business.

Collision Deductible
 

When shopping around for cheap car insurance, one of the things that you need to take into account, and that you can use to your advantage to reduce your insurance premium is the collision deductible. In the event of an accident, the deductible is the proportion of the claim that you are prepared to pay for yourself. When seeking car insurance quotations, you can set the amount of the deductible depending on how much you can afford or want to pay out yourself towards the cost of repairs etc. The higher the level you set the deductible at, the lower your car insurance premium will be. When selecting your car insurance you need to weigh up the pros and cons of a lower premium versus a higher amount you would need to fork out in the event of an accident.

Deductible Reward Scheme
 

In addition, some car insurance companies now offer a reward or credit toward your collision deductible for a period of time (usually a year) that you remain accident-free. This deductible reward scheme may come into force immediately on taking out a car insurance policy or it may only kick in after a period of insurance with the provider. There will be a maximum amount of reward credit that can be offset against your deductible and remember that you actually have to suffer an accident and claim in order to benefit from this scheme and if you do suffer an accident resulting in a claim, your insurance provider will have to pay out more if you have been credited with deductible rewards than they would otherwise have had to pay out and so it is likely that your car insurance premium could be hiked when it comes to renewal.
 

When you’re shopping round for cheap car insurance, you need to consider whether a deductible reward scheme would really be of benefit to you or if it would be preferable to have the freedom to change insurers at will for the best possible deal.