CAR INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 13 NOV 2013:
So new research shows just how far the cost of car insurance has fallen recently, which could be some very good timing for anyone using car valet services.
So here’s the good news: the AA says there was a 12.4 per cent drop in car insurance rates over the past 12 months. This is fantastic, considering the last time prices dropped so much like this was more than 20 years ago!
Right now it’s around £568 or so, on average, for a year of comprehensive cover. This could spell relief for a lot of motorists, especially since it has been so hard to find cheap car insurance for so long.
Of course, there’s always the other side of the coin, and here it is: you might end up having to spend the cash you just saved on additional cover for car valet parking, as it turns out around 1 in every 2 policies don’t cover your car for damage that occurs to it when you hand your keys over to a valet parking attendant.
Now if you only use valet parking once in a blue moon, you’re probably not going to lose much sleep over this, but this could be a serious problem for anyone who does a large amount of traveling. If you leave your car for extended periods of time with the valet at an airport whilst you jet around the world for work, you could be exposing yourself to some rather nasty risk if your insurer doesn’t cover valet parking-related damage.
I suppose the first thing you need to do is to check your insurance policy very carefully to see if you’re covered. If you are, that’s brilliant – well done you. If you’re not, you’d better see if you can add it to your cover for an additional fee. If you can’t, but you’re unwilling to take the risk because you’re always using valet parking services, I don’t know what to tell you: it might be time to compare car insurance rates with your existing insurer’s competitors as it might be time to jump ship.
Don’t worry; you’re likely to get a pretty good price quote. Competition is high in the insurance sector right now, so new customers are courted quite seriously. Just make sure your new insurer offers valet parking cover before you sign on the dotted line for another year!