5 Ways to Save Money on Your Car Insurance
Let’s be honest, times are tough! With the cost of petrol, energy bills, food and the general cost of living continuing to go up everyone is looking to save a bit of money. However, when it comes to car insurance many people continue to pay out huge sums of money each year and don’t realise just how much they could save!
Car insurance can is one of the largest annual bills faced by most people but there are many ways you can lower your car insurance and save money. Check out these great ways of saving money on your car insurance rates.
Compare, compare, compare!
Loyalty is a great thing and if you have been with the same insurer for years you may want to stay with them as you know the service and can trust them. However, one of the quickest and easiest ways to lower your car insurance quotes is to check out the market and compare multiple providers to see if you can get a cheaper deal elsewhere.
Many car insurance companies will guarantee to beat your current rate and so by simply changing insurers you can save yourself a lot of money. Also, it never hurts to look, just because you look at other insurers doesn’t mean you have to change. If you don’t find a cheaper quote you can always stay with the same provider.
Pay up front
When your car insurance renewal arrives it is tempting to pay it off over the year in small monthly installments. However, if you pay monthly you will pay interest on your car insurance rates and so you will actually spend more in the long run. If you pay it off in one go it will be a big upfront cost but over the year you will save quite a bit of money.
Raise your excess
A low excess sounds great as it means you don’t have to pay out lots when and if you have a crash. However, the more you pay on excess in the case of a claim, the less the insurer pays and so they can afford to lower your premiums. If you stay claim free you will end up saving a bit of money by simply raising your excess.
Which cover?
Are you sure you have got the right car insurance cover? You may be paying for cover you don’t want or need, such as roadside assistance, multiple driver insurance or full comprehensive cover. Always check exactly what you are being charged for and only pay for what you need.
Stay claim free
Obvious isn’t it but a lot easier in theory then in practice! You know it, I know it, insurers know it, the simple, easiest way to lower your car insurance rates is to stay claim free. The longer you don’t make a claim the lower your insurance rates will fall!
