Budgeting for Insurance as a First-Time Car Owner

As a new car owner, it’s essential to budget effectively for your insurance premiums. 

Motor insurance rates in Kenya vary depending on the type of policy, vehicle model, and age of the car. 

As a first-time car owner, it’s wise to compare multiple quotes from various underwriters to find the most cost-effective solution. 

Comprehensive Insurance costs more because it offers broader coverage but saves you from bigger losses in the future, while Third-Party Insurance is more affordable but limited.

You can choose to pay your premiums annually or monthly, but ensure that your budget accommodates these payments comfortably. Some insurers offer premium financing options, which allow you to spread the cost over several months, reducing the financial burden. 

It’s also worth exploring any discounts offered by insurers such as safe driver discounts, toying services or loyalty programs. 

To avoid any lapses in coverage, set reminders for renewal dates and review your policy every year to ensure it still meets your needs.

Step By Step Insurance Agency will walk with you every step of the way to find the perfect coverage that suits your budget. Secure your car today.

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