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Ten Steps to Cheaper Car Insurance

Get Quotes

According to the Association of British Insurers we are less likely to shop around for our car insurance. This is a mistake as quotes can vary dramatically from insurer to insurer. The best thing to do is to visit three or four brokers for quotes and then compare them. Always remember that just because your current insurer was cheap when you joined, doesn’t mean that they will be now.

Don’t Reveal your Quotes

Don’t reveal to any of the insurers that you see what other car insurance companies have quoted you. This is because insurers won’t offer you the best price; they will just beat the competition. For example, they may only lower the quote you’ve been given by £10 when they may have quoted you £50 less if you hadn’t told them your other quotes.

Look and Act the Part

Don’t go to your insurer talking about how well you’re doing in work etc. This will only make them think you’ve got money to burn and you may end up paying more for your cover. Of course, this could be slightly futile if you are looking for BMW car insurance , but you should make sure that you don’t give away too much about your bank balance.

On the other hand, you don’t want them thinking that you are going to have trouble paying. It has been known for some insurers to have kept a list of the local areas and roads that have bad payment records. They will then quote ridiculously high premiums to help get rid of the customers that they consider undesirable. To stop this from happening to you, make sure that you dress smartly and inform them that you will be paying for your policy in full and up front. If this is not the case it doesn’t matter as once they have given you a quote, they are committed and you can then ask for monthly payment terms “just to be safe”.

Don’t be Rude

It is worth making sure that you are always friendly and polite as the insurer is then more likely to research the best price to enable you to get cheap car insurance .

Make out that you are Happy with your Current Provider

If you seem unsure about whether you want to leave your current provider, this will encourage other providers to work harder for your business which may mean a cheap car insurance offer. This also shows that you are a loyal customer which is what insurers are looking for.

Don’t Give Away too Much

You may be asked a question along the lines of ‘what do you expect to pay?’ This is basically their way of finding out how much they can charge you, so always insist that you don’t know yet.

Getting the Best Quote

Another thing you may find your insurer says is something like; ‘come back if you get a better quote’. This shows that the insurer is not giving you the best quote that they can give. The best way to stop this happening is by stating at the start that you are getting three quotes and then picking the cheapest. They are more likely to then quote you their best amount. Always make sure that you say this before they have quoted you a figure as once they have, they are committed.

Understand your Cover

Searching for the cheapest policy is not always the best thing to do as it may mean you’re not getting everything you want from your cover. The best thing to do is to have in mind exactly what you need from your cover and then look for the cheapest one that fits the criteria.

Free Legal Expenses

Insurers make a lot of profit on legal expenses. The typical charge for this is £20 but the cost to the broker is just £2. This means that there is a mark-up of 1000% on legal expenses.

The way to get around this is by saying to your insurer that if they give you the legal cover for free, then you will still give them another chance even if you were to get a cheaper quote elsewhere.

Another Chance for your Favourite

You should give at least one provider, your favourite one, another chance to beat any cheaper quotes that you have been given. This is the only time you should reveal other quotes you have been given and you could end up saving yourself ten or twenty pounds.

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