Don’t be lazy, what you can do to save more money on car insurance

Let’s be frank, if you can avoid doing something that’s a bonus! However when it comes to things like making sure you have the best deal on car insurance, or any insurance for that matter, you probably want to find the time to go over some of the details.

I know how easy it is to just keep paying your current plan or going with the first quote that you get on a new vehicle but literally an hour to a few hours of work could save you a huge amount of money over the course of your car ownership.

STOP being lazy: What you need to do…

car insurance tipsFirst off you need to read your current policy, back to front! They should be written these days in English that you can understand but if there is anything that does not make sense call up the insurance company and ask them to explain what on earth it means. During this process you can start to make a sensible list of what your car insurance now covers and from this list it’s easy to see what can be dropped and maybe what essentials you could be missing.

Once you have a refined list I would call up your current company and ask for a re-quote based on the new specifications. Let them know you are looking for ways to refine and shave costs off your insurance while you are at it.

Now, you’ll have a cost from your current provider (hopefully its lower). With this number you have your baseline and it’s time to get comparing car insurance across a variety of providers. Those in the UK are likely fully aware of the meerkats on the advertisement for Compare the Market, a leading car insurance comparison company. Using a service like this is “simples” and will do the bulk of the work for you. A simple Google search will find one in your country.

At this stage you’ll have your basic quotes in-front of you. At this stage you can go ahead and buy a new plan and possibly save a large amount already. However there is more you can do.

Insurance plans have a lot of options and you may find that there are some lifestyle changes that may bring a lower cost and benefit you. Could you lower your yearly mileage? Maybe your alarm system could be upgraded or you could finally clear your Star Wars collection out of the garage and stop parking on the street! Maybe you could even find further discounts by taking advanced driving qualifications. Could you raise your deductible? Are there are options that could be looked at?

Then there is the car itself. Are you really driving the car you should be? If you are driving something really flash it may be time to sell up and get yourself something more modest. Are you driving and unsafe death-trap? Well then it could be worth trashing and shelling out the cash for a safer car and of course that is more than just a money saver, it could be a life saver.

I’m sure this all seems like a lot of work. Just paying and forgetting is much easier in the moment but in the long term the loss of money means something. That money could be used to keep your car better maintained. Possibly to buy a super flash bicycle and start riding to work, to send your kid away on camp, to take a course in something you always wanted to learn, to bolster your savings…. The possibilities are endless and all it takes is a little work on your part.

4 thoughts on “Don’t be lazy, what you can do to save more money on car insurance”

  1. I just sold my house so I am researching new insurance companies. I have been with the same company for over 20 years and they have treated me well. Every time I checked rates with other companies they were not even close due. Will be interesting to see if I will be able to save by switching!

  2. Although you’ve said ” it’s easy to see what can be dropped and maybe what essentials you could be missing” – That’s a blank statement without some advice to back it up. That is, if one has no idea what can be dropped and what is “essential” then this step is not easy. Perhaps refer those of us who are car insurance illiterate to an article/link/list of things that are unnecessary or essential? Thanks :)

    1. Abigall, that really is a fair point and the article is maybe a little general. Each person’s needs are different but one example could be say “free travel insurance” (which I have seen before!). If you don’t really travel this isn’t needed and you may be able to get a plan without these useless perks at a cheaper price.

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