Neil Turner's Blog

Blogging about technology and randomness since 2002

Car insurance renewal preparation

Cheese on Toast van, which presumably has car insurance.

I’m about six weeks away from my car insurance policy expiring. Presently, I’m with Diamond (part of Admiral Insurance), and haven’t yet had their renewal quote. But I’m already shopping around to see if I can get it cheaper elsewhere.

I wrote a blog post last year detailing what I’d done to slim my quote down. This ultimately saved me around £200 on this year’s cover. And for three months I had a small ‘black box’ device in my car which monitored my driving. The good news is that I drove sufficiently well to get a ‘safe driving discount’ on my renewal, when it comes.

I’ve not claimed this year, so I should have one year’s no claims bonus. And I’m not a brand new driver any more. Hopefully, the combination of these factors will mean that I can simply renew my car insurance with Diamond to get the best deal, but I’m keeping my options open.

I did a quick price comparison on Confused.com, to see what other insurers could offer. Admiral Insurance itself came top at under £550, which is around £150 cheaper than Diamond was last year. There were a few others under £600, although the quotes will expire before my renewal date. Still, it’s good to get an idea of what’s out there.

I also got a car insurance quote from LV=, after receiving an email from my trade union with an ‘exclusive discount’. Their quote was almost £2000, which, for a car that is worth less than £4000, is ridiculous. Especially when another firm can offer similar cover for around a quarter of the price.

Whilst it’s a pain to have to research new car insurance policies each year, you usually have to be a new customer to get the best deal. Insurance companies presumably make most of their money from those who auto-renew every year, and don’t shop around. It is time consuming getting new quotes, but it can be worth it.

One Comment

  1. Always, always, always follow this guide when your renewal comes up: http://www.moneysavingexpert.com/car-insurance/

    I usually save over £100 compared to my renewal every year. 2016 was the first time in 16 years of driving that I have not been able to beat my renewal quote.