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.
Haggle
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.
Very Informative blog and i like that three points on cheap car insurance
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