How to save money on your car insurance

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This topic contains 9 replies, has 4 voices, and was last updated by The Colonel The Colonel 4 years, 6 months ago.

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  • #3431 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    The guys at Carhoots.com have shared their top five tips to save you money on your car insurance in their latest guest blog for TheCarExpert.co.uk.

    http://thecarexpert.co.uk/save-money-on-car-insurance/

    Do you have any car insurance savings tips to share?  Or maybe you have some questions you’d like answered?  Join the discussion here!

  • #3452 Reply
    The Colonel
    The Colonel
    Participant

    I simply do not agree with Point 3. If you have a good driving record then there is no way that a good independent broker can be beaten. Online proformas are only interested in what you have done wrong in the last five years (typically), not what you have done right. A good broker will be a good advocate, if they have a good record to work with, and will beat online quotes – that’s my experience, I do check and I’ve yet to find otherwise. (My Z4iS renewed in January – £374, £350 compulsory excess, no voluntary excess – best online over £500 and never less than £500 compulsory excess).

    Thanks for the link, though. The pictures are nice, too. The Ferrari estate really is something special. It is usually parked up in Sloane Terrace (it is in Pont Street in the picture), alonside Cadogan Hall (for culture buffs :lol: ), and if you are in London it really is worth a diversion to look at it – I probably pass it five or six times per week and it always slows me down. :twisted:

    "Who do you think is the most capable?"

    "Capable of what?"

  • #3458 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Yeah, I’ve recommended specific brokers to customers in the past who have been very good. There is an amazing variation in premiums between insurers, and I don’t know how they justify it.

    When I used to work for an Alfa Romeo dealer, I had a customer who wanted to buy a new Mito for his son. Rang his insurer for a quote, and was told £48,000 (no, that’s not a typo). Dumbstruck, he rang another insurer and was told £17,000. We referred him to a broker who eventually got it for £4,000.

  • #3459 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Thanks for the link, though. The pictures are nice, too. The Ferrari estate really is something special. It is usually parked up in Sloane Terrace (it is in Pont Street in the picture), alonside Cadogan Hall (for culture buffs :lol: ), and if you are in London it really is worth a diversion to look at it – I probably pass it five or six times per week and it always slows me down. :twisted:

    I can’t take credit for the words, but I did find all of the images on Google myself :wink:

  • #3472 Reply
    rich_uk
    rich_uk
    Participant

    My Z4iS renewed in January – £374, £350

    I misread read that and thought a third of a million was a touch excessive….

    It maybe a case of lazybastarditess, but I don’t go to brokers anymore. I found them too expensive several years ago and never bothered since. I pay about £300 for my 120d with a £200 excess. I can live with that but I might double check with a broker next time.

  • #3477 Reply
    The Colonel
    The Colonel
    Participant

    rich_uk wrote:

    My Z4iS renewed in January – £374, £350

    I misread read that and thought a third of a million was a touch excessive….

    I did put a space in…lousy forum, I guess.

    :mrgreen:

    "Who do you think is the most capable?"

    "Capable of what?"

  • #3483 Reply
    rich_uk
    rich_uk
    Participant

    Wow, I like misreading. I misread the fact that I typed ‘misread read’ until I read it again.

    I must put down the wine I stole from PHIR… 8-O

  • #3487 Reply
    The Colonel
    The Colonel
    Participant

    rich_uk wrote:Wow, I like misreading. I misread the fact that I typed ‘misread read’ until I read it again.
    I must put down the wine I stole from PHIR… 8-O

    Don’t worry. When you start talking bollocks full of racial and sexual stereotypes, we’ll let you know.

    "Who do you think is the most capable?"

    "Capable of what?"

  • #3523 Reply
    liquidgold
    liquidgold
    Participant

    I get a great deal on my cars, and its a variation of the Admiral multi-car policy.

    I simply insure 1,200 commercial vehicles and 32 company cars and then get an excellent discount on my personal cars. I haven’t tried keying in 1,241 vehicles on the Admiral Multicar site, but I don’t think they’d compete with my current provider.

    On a serious note, I think the brokers now find it hard to compete with the online boys. The trouble is that motor (and home and pet) insurance has become an off-the-shelf item, and there is no reward for loyal custom.

    It irks me that often when you get a renewal quote from your existing insurer, it is more than the quote for a new customer with the same supplier.

    I recently voted with my feet on my pet insurance when MORE THAN wanted an extra £2 a month from me if I renewed, vs cancelling the policy and starting a new one. How is this right???

    New, improved and a stone lighter. Where's the nearest Atom dealer?

  • #3542 Reply
    The Colonel
    The Colonel
    Participant

    Admiral wanted over £3K for our three cars on their multi-car policy. Full NCB, so prangs, no convictions. I’m not sure exactly what my wife pays on her car, but I’m certain we don’t get anywhere near £1500 for all three, let alone £3000.

    In my first post I probably should have emphasised independent. I mean truly independent – serious, experienced, insurance industry professionals that have gone out on thier own and work, basically, from their spare bedroom. It is the same as you being able to directly access the company covering the risk, not the one selling the policy.

    The reason why your renewal will typically be higher, from your provider than it would be as a new customer to the same provider, is because those companies, the sort that populate the comparison website lists, live and die by providing new business to the actual insurance companies. That is where they make their money. They are middlemen, no more, no less. They are corporate and they have shareholders to pay. The number of companies they are serving is quite narrow and the idea of independence is null. The size of your final premium is directly related to their skill in negotiating comissions – the risk, and its coverage, for you remains the same across the board.

    All these introductory discounts have to be paid for, and it will only ever be on your side of the screen that the extra is taken from.

    "Who do you think is the most capable?"

    "Capable of what?"

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