Eight simple steps to saving a lot of money on your car insurance

GOOD advice, they say, is best served, and observed, frequently. The surge in insurance premiums may have abated but that is no excuse for taking your eye off the ball and accepting what youíre quoted. There are still several ways to save a lot of money. Here are a few:

The obvious

Shop around like youíve never done so before. Yes, it is an astoundingly obvious piece of advice but how many people settle for a nominal discount that could be dwarfed by checking with a few rivals? I am aware of a difference of Ä600 in one personís case. Thatís a great bit of work.

Kick loyalty

In this business loyalty can be a liability. Just because the staff are nice doesnít mean that you pay heavily to support their good manners. If you have a claims-free history, consider switching insurers on a regular basis.

Try a broker

It doesnít cost you anything since the insurer pays (well maybe you do pay, indirectly). See what they can trawl for you. Never settle for first quotes from anyone, even a broker. Put on the pressure.

Donít over-estimate the value of your car

Check what it is worth on the market. The insurance companyís assessor will base his/her price assessment on the market and you will be compensated accordingly, so keep it tight.

Watch for the detail

Does your deal mean there is a large amount you have to pay out (excess) before youíre entitled to benefit from the insurance company stumping up the money? In other words, are you paying a lower premium but exposed to pay an initial lump out of your pocket? There is a tendency for larger excesses to apply today.

Early and often

Try to pay your insurance in one swoop, rather than instalments. The latter come to a higher (20pc) total. Even better, if youíre flush, take out two-year cover and avert the risk of an increase next year.

Feedback

See if your insurer will discount if you use an app that monitors driving style etc. In other words, do they reward better driving?

Take female route

Online insurer Its4women focuses on women but it cannot refuse to cover men. Check it out.

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