*Save an easy 20% to 50% on your Car Insurance Renewal
Every year I receive a car insurance renewal letter that requests substantially higher costs than the previous year. Each year I follow the same process to get the price down to a more reasonable value. This year I saved around 35%.
Here is my Example:
Car: 2008 Renault Megane diesel Estate
Drivers: Wife and Myself both in 30s.
Full No Claims bonus
Renewal Quote: £462 (previous year was £302).
1). Check other insurance companies online. I make-up my name and address using the same post code, but slightly different house numbers, names and birth dates. I am very careful about giving my personal details away. You can go to insurers websites directly or use comparison websites (examples below).http://www.comparethemarket.com/car-insurance/http://www.confused.com/http://www.moneysupermarket.com/motor/http://www.elephant.comhttp://www.esure.com
....there are any more to try, just use google.
2). You can also make changes to your details that affect the final price. Examples are:-
*Set a lower annual mileage (I only drive 6,000miles per year so why pay for more?).
*Realistically value your car. A lower value can obtain a cheaper quote and Insurers will never pay above market value should you claim anyway.
*Adjust the voluntary excess value. A higher excess will reduce the cost but it may cost you more if you make a claim. Get the balance right for you.
3). After you obtain the most suitable quote for you, call your current insurer and ask them to price-match it. Most Insurers will price-match in order to retain your custom, and this is the easiest and quickest way to renew. If they refuse to match the price (or get very close to it) then switch companies it is not that difficult.
After following these steps I found the cheapest online quote was with Elephant. They quoted £284 for Fully Comprehensive cover with Protected No-Claims. I called my current insurer (Admiral) who agreed to price-match, and also informed me that Elephant is a sister company of theirs.
Total Saving for me = £178 for 30mins on the PC and one phone-call.