4 Steps To Finding The Cheapest Car Insurance

June 16, 2010 - PRLog -- Step 1:Reduce your risk category

Step 2: Combine comparison sites for the best search

Step 3: Get cashback and haggle

Step 4: Bookmark next years renewal

Step 1: Getting the right cover

Insurance policy premiums be dependent on the insurer, the level of cover and just how risky you might be perceived to be. Therefore start off by defining your cover and making sure you’re as low a risk as possible.

Details often aren’t as clear-cut as you assume, for instance counter logically totally comprehensive cover may be cheaper than third party insurance policies, so always check.

Beware monthly repayment plans

Beware 'pay monthly' options - typically a insurance provider actually simply loans you the annual cost then charges interest at hideous rates on top. So either pay in full, or if you cannot afford it, use a card which has a lower APR rate (or even better, a % bank card for spending ensuring your repayments are big enough to clear it inside a year.)

Tweaking your job description just to save money

Insurers decide prices depending on historic risk assessments, and your profession plays a significant part in this.

Step 2: Correctly combine comparison sites

Comparison websites zip your information to hosts of insurers' and brokers' web sites, scraping their data from the screens to report back the most cost effective. Yet as they don't all compare the identical sites, to be able to maximise the spread of insurance quotes, it is advisable to combine them, so we've analysed the order that gets you the max. quotes in the min. time

The truly record breaking personal savings come from following the entire four step plan; using the comparison sites above then checking for hidden cashback as explained in step 3 which can be in the £100s.

However for a fast hit, two comparison sites give £25 cashback automatically in case you compare then get a insurance policy through them. These sites include less insurers than those above but argue the cashback makes up for it. Both sites don't have a general promotion opt out so it's likely you'll get follow-up telephone calls as well as email messages. The websites are:

Beatthatquote: You'll only get the cashback via specific back links similar to this, you won't get it direct, which usually you need to claim 60 days after buying a policy.

MoneyExpert: This smaller site has set its default excess to £400 and includes some assumptions, so be careful to read the quotes are best for you.

If you're following the full system, it's worth checking these sites anyway, because they add more than twenty providers on the comparisons above and give you a decent benchmark with the cashback available. Though only using these leaves you over fifty short of the two above.

Once you have found the cheapest

Once you’ve identified the cheapest from your screenscrapers; there are 2 important checks to make:

Double check the quotes

Simply click through to the insurance provider's own website to double check the quotes, as to speed up searches some comparison sites come up with a few assumptions.

Examine the policy's coverage

Verify whether it's suitable. So if you need "free car hire" in case your vehicle is being fixed, will it be included? Plus while you’re there it is worth messing around with the coverage details to see if you're able to finesse the price down; evaluate the excess, and whether adding drivers cuts the cost.

This tool by Find* allows you to check the coverage of two different polices side by side.

The top cashback deals

Once you know who your cheapest provider is, you need to check there aren’t any hidden cashback deals, these can be as high as £120. If your second or third cheapest quotes weren’t too much more expensive see if cashback’s available for them too and find the overall winner.

The step-by-step list below takes you through a variety of options to improve your deal.

Step 1: Check cashback websites

These sites carry paid links from some retailers and financial services providers; in other words if you click through them and get a product they get paid. They then give you some of this cash which means you get the same product, but a cut of its revenue.

Yet be warned, until it's in your bank account, this cashback is never 100% guaranteed, and getting the right policy is always paramount. Therefore never simply choose based only on cashback, see it as a potential added bonus once you’ve picked the right cover.

Those new to cashback sites, should ensure they read the Top Cashback Sites guide for pros and cons before using them. Otherwise use the Cashback Sites Maximiser tool to find the highest payer for each insurer.

Though beware if you've used comparison sites first, the cashback site may not track unless you clear your computers cookies. Further information on deleting or controlling cookies is available at AboutCookies.

Step 2: Get £25 cashback via comparison sites

If cashback sites don't list your insurer then comparison sites Beatthatquote* (only via special links like this, not direct) and MoneyExpert* both pay £25 cashback if you compare then get a policy via their sites.

Step 3: Check special deals

If you can’t get cashback it’s worth noting a few companies have special deals not mentioned by comparison services. These currently include (listed alphabetically):

Aviva: Buy Aviva* car insurance online and get a discount of up to 15%. While not that competative an offer, as Aviva isn't included in comparison sites it's worth getting a quote.

Beatthatquote, via Argos: Argos (which uses the Beatthatquote comparison) is giving a £30 giftcard for buying insurance via its site.

Be Wiser: Insurance broker Be Wiser* is giving free RAC membership for policies bought via its website.

Confused: There are two offers (one only can be given per policy) for buying via Confused, although you need to get a quote via its partner sites: 1000 Nectar points (worth £10); £20 Matalan voucher for Matalan reward card holders. The Matalan card is free but you need to buy the policy in one transactions, eg not save the quote to come back later.

Direct Line: Direct Line* has a '52 days free insurance' offer, equivalent to 14% off, for new customers until 30 June 2010.

TescoCompare: Buy your car insurance via TescoCompare* and you'll get a free lost key recovery service for 1 year (RRP £9.99). Read the terms and conditions.

Remember: Smart People Budget #insurance #carinsurance #compareinsurance #cheapinsurance ( http://www.budgetinsurance.com/Car-Insurance/ )

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