Car insurance rates increase; motorists struggle to cut costs

With car insurance rates rocketing, motorists are struggling to find ways to cut costs without compromising their level of cover.

Many motorists have begun paying up front for their motor car insurance, even though average costs can run nearly £900 for a year’s worth of cover.  While paying monthly may seem like a way to save in the short term, with car insurance companies charging exorbitant fees for monthly payments, in the long run this can actually be more costly.

Many other drivers are finding discount car insurance by increasing their excess, as agreeing to pay more out of pocket can reduce premiums considerably.  Those willing to foot more of the bill in the event of a claim have had success in reducing the cost of their insurance, and while this could result in a slightly more costly repair to a vehicle in the event of an accident, the savings are usually worth the risk to many motorists.

Cashback sites have also become quite popular with UK drivers, according to recently conducted research.  These cashback sites can sometimes offer insurance rates that are quite competitive, even in the absence of the cashback deal, so for motorists that are registered with such a site, it can prove beneficial to give it a go when looking for car insurance cover.

Of course one of the best ways to save is to shop around when it comes to buying insurance.  Giving yourself time to engage in a comparison search from the myriad websites that specialise in offering side-by-side comparison quotes can end up making all the difference when it comes to insurance premium prices.

Finally, don’t be afraid to ring up your current insurance provider and ask them to price match if you find a quote from a competitor.  You lose nothing by asking, and could ostensibly save yourself some hassle if your current provider agrees to match your competing quote.

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