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Continuing our look at the methods to save money instead of having to earn it, we’ll look today at what is involved in finding a better priced car insurance.

If you are wanting to save on your annual household expenditure, then make sure that you are reviewing your car insurance policies. With a lot of households having more than one car, there are multiple opportunities throughout the year to make these savings. Here is how to start shopping around and hopefully finding a better price.

Shop online for your next car insurance

Shop for your next car insurance on the internet

First, use the internet to shop around for your car insurance. It is as simple as that! With many insurers giving discounts to people who buy the policy on the internet, there is a good saving to be made there. The reason they do this is that you are saving them the staff overheads, so they encourage you to buy from their website by offering you a discount.

But more than that, you can experiment with your cover. Once you have found one or two insurers that offer better prices, then start to tweak some of the options, as we have shown below.

Check your policy excess

Your policy excess is that amount you pay if you have a claim on your insurance. By increasing the amount of the excess your insurance fee will usually come down. By shopping online for your insurance you can look at different excess amounts and see what the total insurance premium will be. By accepting a higher excess, you may get a lower premium, but how much this saving is you can only tell from experimenting.

Check annual and monthly payments

It depends on your chosen insurance company, but some will give you a discount for paying just a single annual premium, which might save you enough to make it worth your while. On the other hand, others will not charge any more for the monthly payments option. In this case, it might be better for you to spread the payments and keep your money in the bank over the year.

Look at extras

Look carefully at the extras that are included in the policy, such as legal protection. Decide if you consider that it is worth while or whether taking it off will save you sufficient cash to go without it. Again, this is where shopping on the internet really pays off as you can see the premiums both with and without the extras.

Tuck your car up at night

On the whole, it is far safer to keep your car locked up at night. Especially if the alternative is a dark street corner out of sight of your house. It can be well worth your time and effort clearing out the garage and putting the car away at night.

Review your mileage

From year to year look at your service records and MOT certificates and check how much mileage you are actually doing on average. Then make sure that the amount of annual mileage that you declare to the insurer is correct.

Spread your quotes

Lastly, go to a few insurance price comparison sites and get some quotes. But remember that they do not cover all insurers, so you will need to check which of the main insurers have been checked and manually look at the prices of the others.

And remember, there is nothing like the feeling of saving some cash – so review your car insurance when it is time to renew!

Keith Lunt

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