- Reduce the risk which insurers believe you to have:
- No claims history, any special precautions you undertake (locks and security) and even lifestyle choices can positively affect the cost of your policy.
- Be aware of monthly repayment plans:
- They cost more than paying in one lump sum. If you can’t afford to pay upfront, charge the insurance to a 0% purchase credit card. Insurers charge an extremely high rate of interest.
- Shop around and use as many comparison websites as possible to ensure you are getting the best coverage possible. Try:
- Not all deals are included in comparison site searches:
- Norwich Union and Churchill consistently have price promise offers where they aim to undercut renewal quotes from competitors. Tesco currently has half price insurance for customers.
- Haggle with your provider for the best deal:
- Their offers, just like those from a phone company, are not set in stone. Use your powers of persuasion to lower your premium.
- Take advantage of insurance companies which feature on cash-back websites to reduce the cost further.
Remember that it is only new customers who will receive the substantial saving, in your second year the premium may rise.
