It’s something we all dread is happening to us and the ugly truth is that in certain cases it is probably true: you’re overpaying for your car insurance. Obviously this doesn’t apply to everyone, but there are many out there that are missing out on savings.
When it comes to car insurance it can become natural to just let your policy with your current supplier renew without giving it much thought. After all, insurers reward loyalty if you stay with them year after year, don’t they? The unfortunate answer is – no, they don’t.
Your insurer may have discounts available to repeat customers but only if you bring it to their attention. Which means that you need to do a little legwork I order to find out if there is any savings to be had in the first place.
There are plenty of ways out there that you can make savings on your insurance policy and ensure that you aren’t overpaying for what you need:
Check you have the right coverage
It may seem pretty obvious but many people who let their policy renew year after year can find that their current coverage is no longer the right one for them. A common mistake people make is purchasing comprehensive and collision cover on top of their liability cover; this means that in the event of an accident which was your fault you would have to pay your deductibles before the insurance company would pay out.
Check if you can pay upfront
There are savings to be had if you are able to pay for insurance 6-months up front. It’s always important that, if you can afford it, you check whether your insurer will allow upfront payments in advance.
A good way of finding an easy discount is to opt for electronic billing. It is a small change which will make life easier for you whilst also saving you money. With your insurance on an easy to access app, you can also set reminders to let you know if you are eligible for more discounts in the future.
Compare quotes online
It is always advisable to use a trusted website to compare car insurance quotes online. These services are usually free and require just a few pieces of personal information to find every car insurance policy you qualify for.