How to reduce the cost of car insurance
A drop in car insurance costs will be welcomed by many. MoneySuperMarket data shows the average quoted premium for an annual fully comprehensive car insurance policy is £508 (February 2018), down 6.6% on the previous year. But remember the only way to find the best deal is to shop around and compare car insurance quotes.
Here are our top tips on how to reduce your premiums:
Don’t auto-renew: Over a third of motorists still allow their policy to be automatically renewed and they could be losing out by not shopping around.
Compare quotes: Market research company, Consumer Intelligence, found that 51% of customers who search for car insurance through us could save up to £276 on their annual premium**.
Increase your excess: Insurers are likely to reduce the cost of cover if you increase your excess. Just make sure your excess is affordable. Read our voluntary excess guide.
Build a no claims discount: Most insurers reward drivers for claims-free driving.
*Car insurance price index based on MoneySuperMarket car insurance quotes over the last 6 years, updated quarterly. 6.6% fall in premiums in February 2018 compared to February 2017.
**51% of consumers could save up to £276.82 Consumer Intelligence, August 2018