As the budget last week announced that fuel prices are set to rise by 3p by April 2011, motorist are once again counting the cost of keeping their car on the road. However, savvy motorists can still ensure they are getting the best deals by remembering the following tips when they are shopping around at renewal.
- Check any monthly payment terms - To help budget many of us will opt to pay our car insurance on a monthly basis, however this can amount to as much as 15% being added onto the cost of your premium! Instead if you can afford to pay the single lump sum, do so or if necessary look to spreading the payments out over a 0% credit card.
- Consider paying a higher voluntary excess. This means you share the risk with your insurer and would result in a lower premium. The trick here is to find the balance between what you can manage to pay should you need to claim against what you want to pay for cover.
- Check the benefits – Benefits such as windscreen cover, driving abroad and driving other cars may be included in your policy and these are areas that we some of us take for granted. However we have very little knowledge of what protection they provide us with, and in some cases you may be required to pay an additional premium for these to apply to your policy.