Everybody has to make cut backs on their household budgets, and one area in which you will probably be trying to save as many pennies as possible is on insurances.
There seems to be insurance for just about everything, but unfortunately they are vital part of our everyday lives and in many cases, a legal requirement
You need to have car insurance in order to be able to drive in the UK. If you are caught without relevant car insurance, you can be fined or have your licence taken off you completely. It is with this in mind that you must remember to renew your car insurance on time. Take car insurance, for example.
However, there are some things that you can do to help you get the best price on your car insurance:
- Your auto renewal quote will probably be a lot more expensive than what you can get on the open market. This means that you should never take your auto renewal price at first glance. It can also be easy to set up a direct debit and forget about renewing your car insurance completely, but try to avoid this wherever possible. Also, it has been publicised lately that some providers are charging a sneaky £50 for customers to renew to the same policy. Watch out for this!
- You need to remember the time of year that your car insurance is to be renewed, and keep an eye out for any information from your car insurer about your next year’s policy renewal. If you have signed up for paperless communication, this information is likely to come straight to your e-mail inbox.
- Check your junk and spam folders to make sure that nothing has arrived and is not been flagged for your attention.
- When you see your renewal fee, you should do a search on a comparison website to try and gauge how good this renewal quote actually is. In some cases, your renewal quote may only be £10 or £20 higher than some of the quotes that the comparison website is giving you. If this is the case, think carefully about what you want to do. You may think that it is more hassle to change to a new provider for the sake of saving £10. On the other hand, you may save £200 simply by switching to a different provider. Make an informed decision based on your personal circumstances.
Switching to a new provider may seem like a faff, but in many cases it can be a smooth and straightforward process. You may need to provide them with the relevant documentation in order for the new car insurer to set up an account with you. This includes providing your no claims bonus, which may not be carried across- so be wary of this if you do decide to switch.
Look into the small part of the policy and make sure that it has everything that you need. There are many optional extras, such as roadside assistance and emergency breakdown which may or may not be of interest to you. If it seems too tricky to switch to a new provider, call up your current provider and they may be able to give you a price match, which saves the hassle completely!
For more information, check out this great money saving expert guide.