How To Save Money on Your Car Insurance in 2024

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Last Updated on: 21st December 2023, 12:19 am

We’re all feeling the financial squeeze at the moment. From fuel prices to the cost of utilities, not forgetting the ever-rising cost of the weekly shop, it’s no wonder that many people feel that they’re not in control of their finances. 

Thankfully, not all hope is lost and there are plenty of ways that we can save a little money and keep more of our salary in our wallets. You’ve probably tried budgeting and reviewing your monthly expenses, opted to take public transport to save fuel costs, or used your appliances at certain times of the day to save on energy and costs. 

But what about your car insurance? It’s easy to think that there’s very little you can do that will affect your premiums – but in this post, I’m going to share with you some simple changes you can make to keep your costs down – without compromising on your cover, read on to find out more.

North Dakota - Photo of Stephanie Craig in front of the North Dakota Sign crossing into ND from Montana

Always Compare

You might think that there’s little point in comparing car insurance prices, but the truth is there are still plenty of savings to be had, even via this tried and tested method. Using a price comparison site that has access to the latest deals from hundreds of providers is a great place to start. Not forgetting the option to choose the cover you need and the ability to add or omit any extras that you do or do not want. 

It’s easy to think that comparing car insurance prices is a little old hat, but it’s a steadfast and reliable way to ensure you’re not paying over the odds for your car insurance! 

Do Not Auto Renew

Following on from the point above, it’s important that you don’t simply auto-renew, and allow your car insurance to roll over into another year without checking on the price first. It’s a little bit of a slog, but dig out your physical or digital paperwork and check your renewal date!

Wyoming - Photo of Stephanie Craig at the Montana Sign crossing into Montana from Wyoming

Consider Adding A “Responsible Driver” to Your Policy 

A responsible driver is someone with a good driving history and someone who is considered to be low-risk. This could be due to their lack of claims or the years they’ve been driving. Just remember that this person is a “named driver” and not the “main driver” putting them as the main driver when they’re not could mean your insurance is invalid. 

Pay Annually

It’s quite common for many people to pay for their car insurance bit by bit and every month. And if you’re living off a set budget then it might make sense. However, did you know that if you choose to pay for your car insurance in one annual payment, you could potentially save money? This is because you’re not paying an additional interest charge on your monthly payments! Consider reworking your budget around an annual payment instead – it could work out better for you in the long run. 

Final Thoughts…
We’re all feeling the financial pinch at the moment. So, seeking ways to save money on the essentials is key to maintaining control over your finances. Check out these straightforward ways to save money on your car insurance and head straight to a comparison site to get the process started.

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