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How to Reduce Your Car Insurance Premiums in Two Simple Steps.

No matter how good a driver you are, your car insurance will likely increase when it comes up for renewal. This post will show you how I reduced my car insurance premium by 43% in only 20 minutes and how you could save too!

Like many drivers I have driven far fewer miles the past year, with my car spending most of its time in a locked garage (mainly due to the pandemic). Imagine my surprise when I saw that my car insurance renewal quote showed an increase of nearly 30%!

Car Insurance Renewal Quote

Of course there are many other factors that affect insurance premiums, which are out of the customers control. But there is something you can do about it.

In two simple steps, I was able to reduce my new car insurance premium by 43%!

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Step 1 - Get quotes from Car Insurance Comparison Websites

My preferred car insurance comparison website is Money Supermarket, as it seems to be consistently cheaper. You may have your own preferred car insurance website.

Make sure the information regarding your vehicle, location, previous accidents, no claims discount, driving convictions etc. are up to date, then hit the “Quote” button!

Don’t be afraid to compare against multiple car insurance comparison websites.

Car Insurance Comparison Website Search

There’s a good chance you will be pleased with the results, but don’t stop there!

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Step 2 - Contact Your Current Car Insurance Provider

Provided the online car insurance comparison website quote is cheaper, the next step is to contact your current insurer armed with your chosen online quote.

Why bother to contact your current car insurance provider, when you have already found a cheaper car insurance quote online?

More Discount
Your current insurer will want to keep your business & will do their best to match or beat your chosen online car insurance quote. Mine went down further to £250!

Paperwork
Changing insurers may involve additional paperwork (forms, proof of no claims discount etc.). You may have to request such correspondence from your current insurers, causing delays. Staying with your current provider should be easier.

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Don’t Wait Until Your Car Insurance Expiry Date

It’s important to remember that insurance premiums will go up on an almost daily basis, the closer you get to your car insurance expiry date.

I discovered the best times to review / renegotiate your car insurance, are either:

  • On the day you receive your car insurance renewal notice, or

  • 3-4 weeks prior to the expiry date of your current car insurance policy.

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Tip - You can do the above for all your insurance policies. Simply make a note of all your insurance expiry dates, subtract 3-4 weeks from the expiry dates and add recurring reminders into your calendar!

How much have you saved? Let me know in the comments below!