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Car insurance. It can cost a fortune right?! I know…! My husband used to drive a little 125CC bike. This meant that insurance costs were quite low. Despite the fact that someone stole it once and another time someone vandalised it! Anyway, when my husband learned to drive a car, just before 25, our car insurance was costing well over £1200. Fast forward a few years (5 I think?!) and our car insurance is less than half that now. In the last year alone we have made quite a big saving on car insurance – £280 in just one year! I’m going to share some tips with you to help you save money on car insurance.
I’m sure most people want to save money on car insurance. Nobody wants to spend more than they have to. Of course. Sometimes shopping around can feel like a bit of a hassle. This is how I managed to save money on car insurance – £280 to be exact!
- Shop around. This seems obvious and yet so many people don’t do it. Use a price comparison tool. It takes just a few minutes, and a few details, to get quotes. Be sure to untick/tick boxes to avoid receiving phone calls if you don’t want insurers bombarding you with calls. Keep the results page open while you carry out the next steps.
- Check the policy details carefully. Ensure that you are seeing the prices for the cover that you require. I personally recommend fully comprehensive, with windscreen protection. These policies will typically have a chipped windscreen fixed for just £10. Also, you will be protected if you have an accident that is your fault with fully comprehensive. Even the most careful drives can have an accident that is later deemed to be their fault by someone who didn’t even witness the accident!
- Look on cashback websites. My favourites are TopCashBack and Quidco. Have a look to see if you could get cashback on your new policy. Cashback is never guaranteed, however, you should consider this when negotiating with your current insurer.
- Ring your current insurer. Once you have found the best available price for the policy that you want ring your current insurer. Tell them that you want to save money on car insurance. Often they will be able to offer you a special rate, often advertised as being for ‘loyal customers’. Something along those lines anyway.
- Consider if you need long-term car insurance. If you drive infrequently then you may want to look at short term car insurance from DayInsure. This is ideal if you want to borrow someone else’s car, or you just don’t drive that frequently. You can get insurance from 1 day to 1 month and from ages 19 up to 75.
My number one tip to save money on car insurance:
- Don’t be afraid to go elsewhere. Often the hassle people perceive to be involved is what puts them off switching providers for any service. As long as your previous car insurance ends at the same time your new one begins you’ll have adequate cover. Read all policies carefully before signing and look at what you will need to pay to start your policy, if you can’t afford to pay annually. Check out an insurer online. Read reviews, ask friends and family who they use.
When I used the above I was able to ring our current car insurance provider and negotiate. Initially they told me that they could match the cheapest price I using the price comparison tool. Then they said that they could check if I was eligible for a loyal customer discount. I was told yes and the total saving was around £280. At the time this was approximately 35% of our policy price – a huge saving!
If you’re looking for further ways to save money on car insurance then consider these tips:
- Provide accurate mileage details. Use your previous MOTs if you want to work this out.
- Consider changing your excess. Perhaps you could offer to pay £50 or £100 extra and reduce your policy costs considerably.
- Pay in full for the year. This will save you paying interest. Also, it is one less amount thing to pay for each month.
- Don’t be swayed by telemetric boxes. These can initially give you a cheaper policy. They can also let your insurer know if you’re not the best driver you could be. Personally I don’t think that is a good thing!
- Consider what job title to use. Never give false information but there could be a number of ways to describe your job title. One of these titles could save you money.
- Consider named drivers carefully. Do you require named drivers? Also, be sure that you aren’t breaking the law. Brush up on your terms and conditions. Financially a cancelled policy is a nightmare, also, it can make other insurers reject you in the future.
I hope that you can save money on car insurance. Spend a small amount of time before your next renewal is due and you could save significantly. A price comparison tool can take most of the effort out of searching for cheaper car insurance.
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