In order to reduce costs and thus achieve total savings, when taking out car insurance it is important to bear in mind a series of tips through which we can certify that the insurance is adequate for our needs and in return we are going to pay the right amount.
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5 Tips for Saving Money with Car Insurance
Undoubtedly, if you take into account the following tips you will be able to make total savings on your insurance without losing out on cover that could really come in handy in the future.
1- Use insurance comparators
Without a doubt, the internet is there to help us. Thanks to the internet, we no longer have to go from office to office to request quotes and look for the best offer to achieve total savings.
- When looking for car insurance through an insurance comparator, it is important to enter your details correctly. This will make the results very easy and the amount of money you save will be higher.
- Comparators can help you choose the one that suits you best.
- If you have any doubts, you can ask them to call you so that an operator can inform you of the characteristics of the insurance.
2- Think about your insurance needs
It is important to understand that not everyone has the same needs. To avoid paying for an insurance policy that you are not really interested in and thus ensure total savings, we recommend that you examine the cover that you are really interested in having in your insurance policy.
- If the car is new, the most advisable thing to do is to take out comprehensive insurance. Within this type of insurance you can take out insurance with or without excess. This will depend on your needs. Those with excess are cheaper, we recommend that it is no more than 200 euros.
- If the car is several years old, it is best to take out third party insurance. If you are looking for the maximum amount as a total saving, it is best to opt for basic third party insurance. It is simpler, but also cheaper.
3- Value the cost of extras
It is important to be clear that the higher the value of the vehicle, the higher the cost of the insurance you are going to take out. To save money on insurance, it is important that you insure the extras that really interest you.
- You have to consider whether insuring the sunroof is in your interest.
- Other extras that can increase the price of the insurance can be the music system.
4- Think of private labels as total savings
White car insurance brands can be a good option when it comes to achieving total savings of up to 200 euros compared to the original companies.
- Insurance companies currently have more than one brand for sale. The main ones are significantly more expensive than the white ones.
- Taking out insurance with the white brand of the insurer will give you the car insurance you are looking for at a cheaper price. Remember, in this type of case the coverage will be the same, as well as the services you will be offered.
5- Beware of car insurance renewals
Undoubtedly, one of the critical moments for the insured is the moment of renewal. Insurers tend to always raise the premiums at renewal, even when the insured has not submitted any parts.
- To avoid a price increase at renewal, it may be interesting to contact the insurer to try to renegotiate the price as a saving.
- If renegotiation is not possible, it is important to compare and change companies. You should not be afraid to change insurance company, the important thing is to get an insurance policy adapted to your needs at a low cost.
- If you choose to change insurance company, it is important to do so one month in advance to avoid problems. When you change, don’t forget to send the insurance company the cancellation so that you don’t have to pay the next bill.
6- Pay the insurance in several instalments
As if it were a personal loan, it can be a good option to finance the car insurance premium in easy instalments.
- If you have the necessary liquidity, we recommend paying it in a single payment to avoid fees.
- If you don’t have the money, try splitting the insurance premium into several payments as a way to save money according to your needs. The price will be slightly higher, but this way you will be able to afford the payment without getting into too much debt.
7- Consider whether it is necessary to take out occasional driver’s cover
It is important that you think about whether you are going to drive the car yourself or whether a third party is going to use it. You should make this clear in the insurance policy to avoid the insurance company not taking responsibility for the damage caused.
- Adding an occasional driver does not usually result in a significant increase in the cost of the policy.
- When the occasional driver is over 30 years old and has several years of experience, he/she does not really count as an occasional driver. This means that you don’t have to take out this extra and this will help you to reduce the final price.
8- Take advantage of insurance companies’ offers
From time to time, insurance companies usually launch temporary offers. It is important to take advantage of them as a way of saving on the cost of the vehicle policy.
- You can take out an offer from the insurer several months in advance to save money. It is not necessary to wait until the last month to change insurance.
- If you choose to change insurance company, don’t forget to send the cancellation to your current insurer.
