How to Find the Cheapest Car Insurance

There are many car insurers available and it can be confusing knowing who to go to in order to get the best deal. Most of them claim that they have advantages over others and even that they will be the cheapest and so it can be really confusing knowing which might be the right place to go with. They cannot all be the cheapest and the best and obviously we need to make sure that we get the cover that is right for us. There are ways that we can research though to help.

Comparison website

There are many comparison websites out there and they can seem really useful. You can put in your details and they will generate you a number of quite from different insurers in order from cheapest to dearest and you are able to pick between them. This can be a very quick way of comparing a group of insurers but it does have its draw backs. Firstly, it will not include all insurers. There are some that will be missed out. This is because some will only deal directly with customers and do not appear on comparison websites. Others may not pay any or much commission to comparison websites so they will not include them because they will not benefit from them. You are also taking a risk that the comparison is not like for like and once you go to that insurer you will see that you need to add on various things to the policy to make it usable and they actually end up getting dearer. One way to get a better cross section is to look at a selection of different comparison websites but you will still not get to see all insurers this way. It can be useful though as you will get an idea of what you might have to pay and of some of the different possible insurers that you can choose from.

Broker

Using a broker can be better as you will be able to discuss your requirements with them and hopefully it will mean that they will be better able to match a policy to your needs and make sure that the price they are quoting you actually covers the features you need. However, they will also be limited in the companies they will compare. They will also get commission, so that could be a factor and they will not be able to recommend those companies that only go direct.

Independent financial advisor

Independent financial advisors charge for their service, so it is really only worth using one if you feel that they can save you more money than you will spend on them. It will really depend on how much your insurance costs and how much you feel you can potentially save as to whether this will be the case. They will be unbiased and will be able to look across the whole market even those that are not on comparison websites so this will be better than a broker or comparison website and it will save you a lot of work compared with doing it for yourself. If you cannot save much though, it will probably be cheaper just to stick with your current insurer.

Own research

You can do your own research and this is easier with the Internet. You can search for insurers and get quotes and compare them yourself. It will take time though, but if you use some comparison websites then you will get some information and then go to others directly you should get a good idea of what is available. It will take some time but will give you a better idea of what is available and it could mean that you will end up with a cheaper policy.

It can be tempting to stick with your current insurer, particularly if they offer benefits like loyalty discounts. However, it is really wise to make sure that you properly compare them as you may find that you are still paying more if you stick with them, compared with other insurers. You may feel that you want to go with a well-known company as you trust them. However, just because a company has an advertising budget does not mean they are any more trustworthy. It is better to look at reviews and make up your mind form that, rather than thinking just about whether they are well-known. Smaller insurers need the business more and so there is a chance that they will be better. Asking family and friends can also help you to find out more about different insurers and what options you might have. They might be able to recommend an insurer as well as perhaps advising you on who to avoid which could be very handy. They will have no reason for bias and will have your best interests at heart which should help too.

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Tips on Choosing a Good Investment

If you have spare money, then you may want to make sure that you get a good return on it. With savings interest rates so low, it can be tempting to feel that investments are the only way to make a decent amount of money. It is worth learning more about investments as well as about ways to manage money before you think about choosing one.

Options for your money

Before you decide that you will definitely invest, it is worth thinking about all of the options that you have. If you have loans such as the short term offerings from Cobra for example, it could be better to repay those rather than invest. Investments can make high interest and you may make more money with them rather than repaying a loan. However, you will need to examine the figures in detail to be sure. It may be that you will feel better if you can pay some money off a loan or that you do not really mind about the loan and would rather make more money elsewhere.

All about investments

It is important to understand that investments can be risky. Many people do not realise that when you invest in something you may not get your money back. An investment is very different to saving. With savings you will get interest paid on the money and you will be able to get your money back when you need it. With an investment you buy something with the money and then have to sell it again to get your money back. The item you buy could go up or down in value and you will obviously hope that it goes up. However, it could go down in value and you may even end up with none of the money that you paid in, to draw out.

Investments do vary in risk. The lower risk investments tend to have a lower return and the higher risk ones tend to have a higher one. This will vary across individual investments but tends to be the case generally. You will also need to be prepared to tie your money up for a long time. It takes time for things to gain in value and so you will need to be prepared to wait. It is easy to assume that many people make big gains in investments as we may hear about this happening and we may also see adverts implying that this can happen. However, this tends not to happen to most people and we do not hear so much about all of the people that have lost their money. 

What to choose

If you are thinking of investing then it is best to use money that you can afford to lose. Although the chance of you losing all of it is small, it may go down in value and so it should not be money that you are relying on in the future. You should also consider how much risk you are prepared to take with the money and choose a relevant investment based on that. Then you need to think about the amount of time that you are prepared to tie it up for. Investments should really be for at least five years if not ten or more and therefore you need to make sure that you are happy with that.

When it comes to actually choosing a specific investment, some people will use an independent financial advisor. You will need to pay them, but they will be able to give you the benefit of their experience and let you know which funds they would recommend based on the amount of money you have available to invest and how long you want to tie your money up for.

If you do not want to use an advisor then you will need to do the research yourself. This can be tricky, but it is possible. You will need to be particularly careful of companies promising you huge returns for investing for a very little time as these are likely to be scams. It is worth spending a lot of time doing extensive research and looking at reviews, contacting companies and scrutinising figures before you invest any money. It can be a tricky business and there is never a guarantee even if you choose a fund with an experienced fund manager to invest in.

Some people may feel that they will reduce their risk by spreading their funds or by just investing a small amount. Unfortunately, some investments will have a minimum investment amount and if you spread your funds it tends to reduce your chance of a high return, although it may lower your risk. It can get very complicated. This is why it is so important that you are confident either in your advisor or your own research before you pay out any money.