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How to get the right quote for your policy renewal
Insurance renewal time seems to come round faster every year, with premiums rising annually and motorists feeling trapped in an endless battle to afford the costs of keeping their cars on the road. Luckily, obtaining a cheaper quote for your cover is easy to do. Don’t be a victim of the profit driven tactics which brokers employ; get the policy you want for a reasonable cost.
Brokers love loyal drivers, as it gives them the chance to increase their premium prices significantly each year. A common mistake is to accept the ease and convenience which following the automatic renewal pathway can bring. Insurers know that many people will allow automatic renewal to take its course without searching for alternative cover. They often take advantage of this by raising the cost of your cover enormously after the first year. A quick search on a Price Comparison Site will show you just how much can be saved by opting for a different provider. If you would like to stay with your existing provider, ringing them with the lower quote you’ve just found can be enough to get you a new price which is significantly less than the one on your renewal documentation.
Grab That Bargain Whilst You Can
Whilst many motorists use online Price Comparison Sites to get quotes from different providers, most leave it too late. Insurers often give better quotes to motorists whose renewal date is still a month or so off. This is because they know they have plenty of time to shop around. When that new premium just has to be paid or a new policy found quickly you are under pressure and prices can rise accordingly. They want your business and will often offer tempting introductory discounts and other special offers to those motorists who will switch to them from their current insurer.
Check Your Cover
Ensure that your quotes give you the cover you want. Sometimes it doesn’t pay to go with the cheapest offer you receive. Check each one carefully so that you are clear about exactly what you are getting for your money. Do you need all the additional extras which have been included? Could you get them more cheaply as separate services? Breakdown cover, windscreen protection, car seat replacement and a 24-hour claim line are often useful to have, but is your motor policy the most economical product to use in order to have these benefits? Remember that other policies you might have may well already provide some of those advantages.
Tweak Your Data
Little things can make a big difference. Whilst factors such as vehicle type, age, motoring experience and No Claims Discount (NCD) all have a significant impact on premium price, there are also a number of less significant factors which together can make a positive difference to the quote you receive. Sometimes Comparison Sites don’t give you the opportunity to let brokers know about your smoking status, occupation, driving patterns, mileage, other insurance products and housing tenure, all of which can influence cover in a positive way. Ring the insurer that you have selected and tell them; often the sales stall have a lot of leeway on discounts for new customers and your premium may well plummet.
Consider Your Vehicle
Even if you decide to stick with the car you have, rather than opting for one from a lower insurance group, there’s still plenty you can do to keep that renewal price low. Ensure your car is well secured, adding post-manufacture measures if necessary. Keep it in a safe location; a garage or lock-up is ideal. Limit named drivers to more mature individuals with a clean driving licence. If possible, keep mileage low and avoid rush hour commutes that represent a high risk and therefore raise premium price.
The key to cheap insurance renewal is to revisit your product needs each year. Taking a little time to check your cover level is correct for your current situation, searching for new providers and ensuring that your circumstances are as low risk as possible can all go a long way to getting you the policy you prefer at a preferential price. Don’t leave it until the last minute, start looking now for bargain motoring quotes.
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