Don’t Let Insurance Automatically Renew
It’s that time of year we dread when your insurance needs renewing and you have to trawl through all the comparison websites.
With any luck, you might have saved your details and you don’t have to go through the whole process again but it’s still a bit of a headache.
Is it worth it? Absolutely.
Relying On Apathy
Insurance companies rely on apathy; on the thousands of people who don’t use comparison websites and simply let their insurance automatically renew. If you are happy with the coverage and service provided this is perhaps understandable but it is always worth doing some research.
It’s also understandable for people, not computer literate to feel overwhelmed by the sheer range of companies out there but a quick telephone call to your provider should save you some money.
- Insurance auto-renewal – is it legal? Find out more by clicking here.
Cutting Down The Legwork
The beauty of comparison websites is that you can very easily make small amendments to your policy to experiment with which changes save you some money.
I know someone who has their parents on their policy, for example, to cover the odd occasion where they might borrow the car. Removing them increased the premium by £50. Similarly, make sure you read all the information carefully to ensure you are properly covered and not paying for things you don’t need.
- Which? Magazine has a good guide to how comparison websites work.
Don’t assume all cover is identical
One thing the comparison websites aren’t very good at is comparing some of the smaller policy details. If you travel abroad with your car, for example, you will find that companies offer a range of cover and you will need to be careful that you don’t exceed their restrictions on the amount of time you are away.
Our advice is to use a comparison website or two and read the finer details of policies that give good value. Then give your current provider a call and explain that you have found more competitive offers. You will almost certainly find that they will offer you a discount even if they can’t match the lower premium. It’s up to you then whether you stay or go but it’s always worth a telephone call.
It’s highly unlikely that you’ll need every insurance product on the market, even if you could afford them all, you will not need to. However, it’s important to know whether your hard-earned cash is going on the policies you need the most?
- Click here to see more.
How Can We Help?
It’s never a sensible move to spend more money than you have to. This can be applied to almost any situation and in particular when it comes to applying for a loan, especially if you have a poor credit rating and are faced with limited options.
If you are worried about your financial situation and you would like to compare loans to help in the short term we can offer services from a range of providers.
For more on the different types of loan we have available, visit the links below: