Despite the economic recovery, car insurance is one of the few industries where customers are still seeing rising prices year on year.
In part this is due to the increasing number of young and accident prone drivers on the road, but it’s also because insurance companies are aware that most people will happily auto-renew their premium without checking the details. However, with a few tips and tricks, you can easily get cheaper car insurance.
The first and most important step when your new car insurance policy comes through the post is to immediately pick up the phone and start to negotiate the terms.
The rapid rise of insurance comparison websites means that you can arm yourself with a multitude of other quotes in a matter of minutes.
The person in the call centre will be heavily invested through commission to retain your custom, so simply tell them the cheaper car insurance deals that you’ve found and they’ll usually be able to match it or reduce their price.
You can play the more risky game of threatening to leave and it will depend on the person you’re talking to as to whether they’ll simply let you go or will go find a supervisor to knock some more money off.
Drop The Perks
If you’re finding that your cheap car insurance premiums are rising each year, even when you’ve not had an accident, have a look at what additional perks have been added to your policy. Insurance companies are notorious for scaremongering their clients into having more protection than they could possibly need and each level of protection can be charged for.
Typical perks that boost up your premiums include unnecessary levels of medical and legal fee coverage, road side assistance and a courtesy car till you’re back on the road. Regardless of the fact that you can get these perks for cheaper with a breakdown recovery service like the RAC or Green Flag, you’ll still save money by removing these from the policy.
he salesperson you speak to will try to guilt you into keeping them, so make sure you’re focused on the cheap car insurance that awaits you at the end of the phone call.
Have A Higher Excess
Finally, having a higher excess in the case of an accident is a sure fire way of getting cheap car insurance. As a general rule of thumb, you’ll pay an extra £100 in premiums for each £200 less of excess you choose to pay.
Of course, the amount of excess you choose has to be dictated by how much spare cash you have available in the case of an accident, but if you’re a safe driver or don’t do a huge number of miles each year, you should be safe with an excess of £500 which should save you around £200 a year.