Earlier this year figures from the AA revealed the cost of car insurance, for customers who shop around, had risen by £50 within just three months and was £130 up, year on year. While it was announced last week that a hike in fuel duty would be delayed until January, prices are still high. All in all then, driving is a pretty costly mode of transport!
But it is possible to make some savings. At TotallyMoney, we’ve made it easy for you to find cheap car cover fast. We’ve just launched a brand new car insurance comparison tool. Give it a spin and see if you can save today!
Looking to make even bigger savings? Here are four tried and tested ways to cut the cost of your car cover.
1. Don’t pay monthly
While paying monthly will help you to spread the cost of your car insurance, doing so could mean the cost you are actually spreading is higher than it would be if you paid up front. The insurer could add a hefty sum onto your bill if you choose to pay over 12 months. What’s more, some insurers don’t allow for the cost to be paid monthly so be choosing this payment option you could be eliminating cheaper products.
2. Get a new quote from your insurer
As unfair as it may seem loyalty doesn’t often count for much when it comes to financial products. Insurers tend to offer fantastic deals and products to entice new customers while those who have already signed on the dotted line can end up feeling neglected.
Apply to your old insurer as a new customer and see what they can offer.
3. Add someone else to the policy
Adding someone else to your policy could save you a few hundred pounds. The other driver does not necessarily need to be older or more experienced than you as insurers take lots of things into account, including profession.
4. Go for a higher excess
When looking for car insurance many people choose a lower excess (the amount of a claim that you agree to pay yourself). However, policies with higher excess are often much cheaper. While this would mean you’d have to pay more out when making a big claim you’d save in the long run by paying reduced premiums.
Is it time for you to renew yours yet? Find cheap cover fast with TotallyMoney’s brand new car insurance comparison tool.