Loyalty wont be rewarded with cheaper car insurance, says Moneysupermarket.com MyFinances.co.uk
24.08.11
Wednesday, August 24, 2011 4:08 PM
Moneysupermarket.com has issued a warning to motorists that they are missing out on the opportunity of saving lots of money by staying with the same provider when it is time to renew their car insurance.
Research by the price comparison site reveals that 2.56 million motorists don’t even check to see if they could get a better deal with another provider each year. It says that each motorist wastes an average of £333 each year by not switching.
The amount that could be saved, £333, has increased by more than £100 since this time last year. This is in part due to the record level that car insurance premiums have reached in 2011.
Pete Harrison, car insurance expert at moneysupermarket.com said: "With the cost of living continuing to spiral, consumers are really feeling the pinch, so it is shocking many motorists are not using this opportunity to protect their hard earned cash by finding the best car insurance deal for their needs.”
Source:
Finding bcheaper Car Insurance/b | Odurinde Finance amp; Business Blog
Depending on the vehicle you drive and the type of car insurance coverage that you need, finding cheap car insurance can be quite a tricky task. However, if you know where to look and what to look for, there are a few simple things that you can do to bring the price of yours crashing down. Here are some simple but effective tips for you.
Get quotes from as many providers as you can Increase your chance of finding a great car insurance deal, by comparing as many providers as possible. Doing this also gives you a wider view of the options available to you. To compare as many car insurance options as possible, you could use a price comparison website. Using a price comparison website you only have to fill in your details as if you are applying for one quote. You will then receive various quotes from a wide range of insurance providers. Using a price comparison website can save you a lot of time. Money Super Market , esurance and geico are all examples of price comparison sites.
Compare policy extras When you are looking for a new car insurance policy, you may receive quotes that contain extras or add-ons; these may be in the shape of health or legal cover. Removing these policy extras may result in the price of your insurance reducing significantly. You should only remember to remove these options from your insurance policy if you neither want nor need them.
Keep a clean credit record A little known fact is that when you apply for an car insurance quote many providers will check your credit record to see how reliable you are. As a result of this, keeping your credit record clean can result in you receiving a cheaper quote. On the other hand, if you have any red markers on your credit record, for not meeting a payment or for being denied credit, then there may be a rise in the cost of your policy. Maintain a clean credit record by making sure you regularly meet payments
