How to save Get better deals on insurance

Shop around for the best deals on car insurance

If there was ever a time to make the effort to try and get the best rates for your finances, it’s now. 

A bit of intensive searching of comparison websites or direct calls to providers could pay off in the shape of cheaper borrowing or lower insurance premiums. 

Have a clearout of all of the personal financial outgoings you could ditch, such as payment protection insurance. And do you really need insurance on your mobile phone? Some bundled bank accounts provide that anyway as part of the package so you may be paying twice.

Shop around for better deals on car insurance

If you’re sure you only have as many insurance policies as you need, shop around for better deals. If you’re confident about haggling, this strategy may work when your car insurance premium comes in. 

Although premiums are predicted to go up in 2009, it’s still worth calling your insurer and seeing if they can do a better deal than their first renewal quote. See our Which? Recommended Providers for car insurance for the best cover and service at competitive prices.

It’s also worth running your details through a price comparison site like comparethemarket.com or confused.com, though Which? research has found that you would need to check several of them to ensure you’re getting quotes from across the market. The Which? can help you. 

You can also get better deals sometimes by approaching a Which? Recommended Provider direct. 

Be aware that just because a product is targeted at a certain area of the population, eg women, it doesn’t mean it’s a good deal. Read our guide to car insurance before you hit the phones.

How to save by cutting car insurance premiums

Try raising the level of excess you’re prepared to pay on things like car insurance to see if your quote comes down significantly. 

If you’re willing to pay £400 excess, your quote is likely to be much lower than if you’re only happy shelling out for the first £50-£100 of a claim. 

Don’t overestimate the mileage you’re likely to do each year, and tell your insurer if you don’t use the car to commute. See the Which? car insurance review for tips to help you cut your insurance premiums.

How to save money on contents insurance

Though it's important to try to save money, it's not worth making financial savings in the short term only to find yourself left high and dry if you don't have the correct amount of insurance.

We advise you to get old-for-new contents insurance rather than indemnity - where the insurer deducts an amount from your claim for wear and tear. 

Read our guide to contents insurance for more tips on getting the right policy.

Check your policy to make sure you're not paying for what you don't need, and haggle to get a better quote and save money.

Don't go for the first quote you get but shop around, starting with our contents insurance Best Buys.