One of the biggest savings I make a year is with my car insurance. I have never paid the full renewal price but it seems that many automatically renew each year. I recently read that a staggering billion a year could be saved if people didn’t just accept their renewal price.
I start looking for the best quote 4 – 5 weeks before my renewal is due. I use a mixture of price comparison websites and individuals, as not all companies are listed on the sites. I then ensure that the competitive quotes include all the benefits of my current insurance and that mileage and excess are the same, as when it comes to bargaining with the insurer they will look for little differences as to why they can’t match the quote you have found. Be sure to make a note of the reference of any quotes and have them in front of you when speaking to your insurer. It’s worth looking at insurance offered by the supermarkets too, as they can often include club card points etc.
I generally haggle the quote down to around £100-£150 less than I have been quoted. This year I have changed insurer and and used a staff discount to benefit, so from the original £450 I was quoted have paid just £285. Pretty happy with that!
Do be careful and check that your policy doesn’t automatically renew – lots of people get caught out this way and then end up needing to pay a cancellation fee if they don’t want or need the cover.