Renewing your car insurance

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Every year we are faced with the same tedious boring task of renewing our car insurance policy to abide by the law. A month before the current policy expires, most insurers will send out a renewal letter stating how much the new premiums will be taking into considerations your driving experience and years of no claims discount. If you’re happy with that quote, usually you do not need to do anything as the policy will be renewed automatically provided that the car insurance company can take out the money for the policy from the bank card you last used.

However, in most cases, the premiums shown by your current insurer are not the best car insurance quote that you could get. Many people though are too lazy to request a quote elsewhere, are too busy to fit searching for a better quote in their schedule or just leave it too late for them to do anything about it. Even if you can afford paying more than you’re supposed to, it is rather stupid to do so because you’re not getting anything special for the extra money you’re spending. Why would you want to pay more for the same service when you can have it cheaper elsewhere?

What many people do not realise is that when it comes to insurance, there’s no loyalty involved. You could have been with a car insurance company for the last 10 years but that does not mean anything to them. They’ll be happy to take your money every year and will make it as difficult for you to claim as the person who has recently joined them. That’s the truth!

So it is wise to spend a little bit of time searching for some quotes before you give in on the renewal quote that you’ve received through the post. It is even more easier nowadays to shop around for quotes with the many car insurance comparison websites at your disposal. All you have to do is enter all the necessary details on one website and it will search a wide number of insurers for you. There you go, time saved, and if you don’t find anything cheaper, then feel free to stay with your current insurer.

It might be worth mentioning that not all car insurance comparison websites search the same insurers. Some might search only a few while others a lot. Nevertheless, they don’t search the whole market and if you want to be sure to get the best deals, you’re going to see which insurers are not included in the search and go on another one which requests quotes from them. Then again, some insurers like Direct Line, are not on comparison sites and you’ll have to go direct to get a quote.

It might sound like a lot of work but it’s all worthwhile. On average, people save around £200 by comparing quotes from other providers instead of just renewing their car insurance with their current insurer. Don’t leave it too late and remember that you’re most likely to get it cheaper elsewhere and have the extra money for yourself, so be wise!

gices Published 27 Apr 2011

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