It is estimated that at least one in three customers is paying more than necessary for car insurance. This in large is part due to the fact that consumers simply accept the renewal from their existing insurer rather than shopping around for a better deal.
Shop Around
You can save yourself hundreds of pounds simply by doing a few minutes of online research. Make sure that you are comparing like-for-like policies, though, and that they contain all the cover that you need.
Regular Drivers
Make sure that only people who will drive the car regularly are named on the policy. This is much more cost-effective than adding the whole family, and it’s easy enough to add someone else for a few days now and then.
No-Claims
Your no-claims bonus is the single best way to cut your costs, so guard it well. You many pay slightly more upfront, but when compared to the loss of a 90% discount (potentially), this cost fades into insignificance.
Excess
If you chose to raise your excess, your premiums will lower. Don’t raise it too high, though, especially if your car is old or of low value.
Security
Many insurers offer discounts for a well-secured vehicle, so think about fitting an immobiliser, approved alarm or tracing device. If these came with your car when you bought it, make sure you declare this on your application.
Haggle
The car insurance world is a competitive one. Find the best price for Budget Insurance online, and then hit the phone and start to haggle. What have you got to lose?
One-Off
You are likely to get a cheaper quote if you can pay for the product in one go. It may be worth applying for a 0% credit card and then paying this off over the course of the year.
