As many British households are struggling with rising motor car insurance costs, industry experts have come forward with some top tips in cutting down their car insurance rates without having to compromise on cover.
The first thing many experts recommend is to not just blindly automatically renew your policies, as you can find substantial savings from shopping around. Figures recently published from a leading car insurance comparison website reveal that Brits can save around £237 on their premiums just by comparison shopping, which proves the worth of getting as many quotes as possible before making your final decision.
Also, discount car insurance experts point out that many insurers, such as Direct Line and Aviva, are not to be found on comparison site. This means you will have to make direct contact in order to compare prices, but doing so could very well lead you to discover you could make considerable savings.
Insurance experts caution consumers to look carefully at the terms and conditions of every policy you consider, however. This is because a good number of the most inexpensive policies may not offer comprehensive cover, which could lead to a false economy in the case of a road traffic accident, leaving you with costly car repair or personal injury bills.
Experts also say that you should reconsider if you’re paying your premium in monthly instalments. Paying your premiums annually can result in actually paying less over time, as policies that offer a monthly payment option charge as much as a 24 per cent annual interest rate.
Finally, experts say that increasing your excess can result in lower rates as well. Most motor insurance policies have both compulsory and voluntary excess charges, and increasing your excess can often net you a less expensive premium in return.