Each time car insurance renewal time comes around it always seems to be a challenge to get the best price! Here are some methods which can be used:
- Change job!
Your job title affect insurance costs. If several of the of the job titles available reflects what you do make sure you choose the cheapest one!
- Change parking location
If you have flexibility over where you park your car try the different locations. Its important that the location reflects where the car will be parked most frequently.
- Reduce annual mileage
Check the estimated annual mileage is accurate- reduce it if possible.
- Increase excess
If you are happy to pay a higher excess the annual premium will be reduced.
- Add extra named drivers
If you add lower risk drivers you may find premiums are reduced. It may be worth adding friends/relatives to your policy even if they are unlikely to drive your car often.
- Ring to negotiate
After receiving a renewal quote I find calling to make any required amendments and then asking for the best price is quite effective/time efficient!
- Consider Multicar
Some insurers offer multicar policies – you may find insuring several cars together more cost effective.
- Avoid extras
…such as breakdown cover unless you really need them. Make sure you can’t get what you are paying for cheaper elsewhere.
- Use comparison sites
These are time efficient way of getting lots of quotes quickly but beware quotes from some companies such as Admiral multicar and Direct Line are only available directly.
- Plan ahead
Studies have shown that negotiation on price is more affective if done ahead of renewal day!
Note: It is important any information you provide is accurate to make sure you are insured in the event of a claim.
The “Finding The Edge” Choice:
I have insured with Admiral for over 10 years and am a happy customer for the following reasons:
- Pricing: always seem good value vs competitors
- Fast renewals process: efficient call centre, staff members friendly and polite
- Multicar: I insure multiple cars on same policy to get an additional discount
- Easy claims system: 2 claims over the past few years – both fault and non-fault claims handled well and car repaired quickly