COMMENT
Cut The Cost Of Your Car Insurance

Phoning around for insurance quotes is extremely boring. Hanging on the line whilst waiting to speak to someone is time consuming and often annoying – especially if you're footing the cost of the call. And don't get me started on 'hold music'…

However, those of us who take the time to phone around know that this can all be extremely worthwhile, as the difference between the best and worst insurance quotes can be hundreds of pounds! And considering many of us who have been with our insurer for three years or more admit that our premiums are prone to steadily creeping up; you'd think we'd all want a better deal!

A recent study from Sainsbury's Bank found that over five million of us don't bother shopping around, obtaining only one quote before signing up. Common reasons given, ranged from the honest 'I can't be bothered', to 'I don't have the time' and 'It's too stressful!' But when you consider that the report found that shopping around could save the average motorist 32% in premiums – we're crazy to just sign that renewal notice!

For example, if you realized that 30 minutes of your time each day for five evenings could save you some serious money, would that persuade you to make the effort? Most of us could manage this – you could watch a little less TV and use that time to obtain a quote. Or use the time when it's your partner's turn to cook – you could have phoned for that day's quote and have a meal waiting for you as your reward!

Quick tips for getting a cheaper quote

1. Plan in Advance

Make sure you've written down the date on which your premium must be renewed in your diary. Two weeks before that time, get out the yellow pages and choose one company to call, every other evening, for two weeks. You'll have seven quotes before you know it, whilst 'spreading the pain'. Any companies with 0800 numbers will be a bonus – and don't forget to use SayNoTo0870 if you spy any 0870 numbers. Alternatively, apply for quotes from the company websites – it's free!

2. Know Your Details

Make sure you know all of the details about your car and no claims bonus before calling, or you'll just have to call back. Get your old insurance details out for reference. And don't forget to mention that immobilizer and alarm – they could each knock 10% off your quote. And if you choose to increase your excess this should reduce your premium too – though you'll have to pay more should you need to claim.

3. Add Your Partner

Adding your partner can often reduce your premium – but ask for the quote with and without your partner's name to check. Any driver policies are generally more expensive – so name extra drivers if you need them to be covered too.

4. Don't Pay Monthly

Check how much extra it will cost you to pay your insurance premium monthly. The interest cost can often be a whopping 30% APR – and quickly negate any savings you've made by shopping around. Try and pay the premium upfront if you can – if you haven't got the cash saved, consider using a 0% credit card for an effective free loan – but make sure you pay it off before the interest free period expires.

By the way, Egg is currently offering £30 cashback for Egg card customers, 12 months interest free for those who pay in full with their Egg card, and another 10% off if you buy online – which may be worth checking out. But the offer only lasts until 31st March, so you'll have to be quick if you're interested. You can apply for the Egg Card plus numerous other 0% cards in our credit card centre.

Lastly, don't forget to check the policy details carefully before accepting any quote (such as courtesy car provision in the event of an accident, should you require it) – all cover may not be the same. A little bit of your time could save you a good deal of money!

Get a competitive car insurance quote now in our insurance centre.