5 ways to save money on car insurance this January

January is finally here, and we all know what that means...It’s time to face your financial fears! Yes you were probably expecting something a little more exciting, but the beginning of a new year really is a good time to review your expenses and see where you could be saving more money in the year ahead.

So let’s just say for argument’s sake that you’ve already bitten the financial bullet and reviewed your outgoings. If you’re a car owner you may have noticed that a large part of your earnings is being offloaded on your car insurance. 

But don’t despair! Now is the time to take the wheel and get yourself a better car insurance deal, one that doesn’t ride roughshod over your savings goals! Here are just five things to think about when reviewing your car insurance policy or switching to a new one:

1. Bundle all your insurance policies!

If you have multiple insurance policies, say home insurance or home and contents insurance plus car insurance, then you may want to think about bundling them up with the same insurer. A number of insurers these days offer insurance in multiple areas, and will often give you a discount for taking out more than one policy. You could be bagging as much as a 30% discount off your premium, just for getting all your insurance policies from the same provider.

2. Loyalty pays off.

That’s right, when it comes to insurance, loyalty should work in your favour. So if you’ve been with your current insurer for a number of years then it might be time to ask for a loyalty discount. Your insurer may even offer you a discount come renewal time, but if they don’t make sure you ask for one! And if they say no, or the discount isn’t really what you had in mind, you might want to think about switching to another insurer who can give you a better deal.

3. Make sure you’re getting the no claims bonus.

Would you describe yourself as a fairly safe driver? If the answer’s yes and you haven’t had any reason to make a claim in the past few years, then you should probably see about getting yourself a no claims bonus. A no claims bonus is a reward for being a careful driver; if you manage to go a whole year without making a claim, then you could be entitled to a no claims bonus discount. Most insurers will continue to increase the discount for the first five consecutive years that you fail to make a claim. So whether you’re reviewing your current car insurance policy or searching for a new one, this is definitely something worth bringing up with your insurer.

4. Think about who’s driving your car.

If you’re the only person who ever drives your car, then you might be able to get a restricted driver discount. This will apply as long as you can guarantee that you are the only person driving your vehicle. Alternatively, you could restrict the age of the other drivers listed on your policy to get a discount. For instance, as drivers under the age of 25 are more likely to have accidents, many insurers will offer you a substantial discount for excluding younger drivers from your policy.

5. Search for exclusive online discounts.

Nowadays it’s so easy to sign up for pretty much anything online. You can sign up for a new bank account, a home loan or a travel card, all from the comfort of your sofa. And the same goes for car insurance. Plus you can usually get a quote for your wheels online within a matter of minutes. And to top off the ease of access, a number of car insurers also offer exclusive online discounts. That’s right, you could snag yourself a sweet 10-15% off, just for signing up from the comfort of your home. So if you are searching for a new car insurance policy, then chances are it will benefit you to head online.

Feeling inspired to review your policy? Why not take a look at the car insurance deals below to see if you could be getting a better deal for your beloved car, or head to Mozo’s dedicated car insurance comparison page for a full list of car insurance offers.