Auto insurance can be expensive; however, driving without coverage can have serious financial implications. Whether you are planning to purchase a new car or just looking for a more affordable option on your existing premium, there are important points you must consider before you make a decision. These include the following:

The Costs

For a lot of car owners, price is the deciding factor when picking a car insurance policy. But, the cost is the combination of different factors like excess structure, extra items fitted onto a car, and how a person drives their car. When you buy an insurance policy, you need to consider the value of your car and your situation. If you are in the same situation as many people, you probably consider your car a valuable asset. Buying an auto insurance policy makes a lot of sense if you depend on it for getting to work or making a living.

Premium and Excess

Which of these are important, depends on your financial situation. If you have saved up lots of money, you may want to go for a lower premium and higher excess. When you will be involved in an accident, you can afford the necessary fee. Meanwhile, if you are in an unstable financial situation, it is best to pay a bit of extra every month for your premium. Should you may a claim in the future and you still have to pay an excess, it will be within your means.

The Fine Print

These days, it is easier to look for quotes in minutes. But, this option may not provide you with detailed information on what an insurance company is offering. If you cannot work through the details on your own, ask the assistance of an agent at Miway to help you make an informed decision on the cost of your policy and its accompanying benefits.


You can easily obtain an estimate that provides a good premium with matching benefits. But, you should not settle with the first estimate you get because there are many options you can compare out there. Instead, try to get at least three quotes from several reputable insurers. Every company will try to make a unique package to stand out on the market. Keep in mind that the special features of a product may not appeal to all. So, shop around and compare offers to find the deal that fits your specific needs.