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Petrol prices set to reach £1.12 per litre: save on car insurance
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Shop around
There are a number of ways you can keep the cost of your car insurance down. The first is to shop around. Different insurers target different driver profiles with cheap deals – which can mean an insurer which offers your friends the best deal might not necessarily be the best option for you.
Use the internet
When you get your renewal quote from your existing insurer, use the internet to make sure the cheapest premium can’t be found elsewhere. Some insurers, such as Direct Line and the AA, offer a discount if you buy online, while online aggregators such as Confused.com can search the biggest insurers to help you find the best deal.
According to Moneysupermarket.com, other names that come out as consistently cheap include the Post Office, Zurich, More Than and Liverpool Victoria. Big brands such as Barclays and the RAC also made the top 10, as well as supermarket bank, Sainsbury’s. The AA; Swinton and M&S were among the most expensive.
Get good cover
Pay upfront
When you find a good deal, try to pay for it in one go, rather than by monthly direct debit. According to MoneyExpert.com, opting to pay by direct debit when buying motor insurance can work out expensive. It says you risk paying as much as £182 extra just for the privilege of spreading your payments.
Increase your excess
If you’re prepared to pay a higher excess on your policy, you may also be able to enjoy cheaper premiums. The excess is the amount you will have to pay in the event of a claim, before the insurance kicks in and pays the rest.
