MoneySuperMarket's Car Insurance Guide

It is perhaps unsurprising that car insurance, of all the financial products sold, is the one that consumers resent the most. When you consider that car insurance is the only type of financial cover that is compulsory in the UK and the fact that there is no tangible return on your investment unless you have an accident, it is easy to see why car insurance is a grudge purchase for so many people.

Keeping this in mind, getting the best deal possible on a car insurance policy should be of the utmost importance to all drivers. Whilst you might expect all motorists to ensure that they do not pay over the odds for their car insurance, the reality of the situation is that many drivers either stick with the same insurer year after year or they get quotes from only a couple of insurance providers before deciding which option to go ahead with.

As you might expect, not taking the time to shop around for a car insurance policy can lead to motorists paying significantly more for their policy than they would have done had they compared a greater number of providers.

Shopping around for a car insurance policy is probably the easiest way to save on your premium. Insurance costs can vary greatly from one insurer to the next so it is important to compare as many car insurance providers as possible. Whilst you might expect this to be a slow and arduous process, the reality is that obtaining quotes from the majority of the UKs leading car insurance providers is quick and easy.

Price comparison sites such as Moneysupermarket.com allow users to compare car insurance policies from over 100 leading car insurance providers. After inputting your details once, a search results page displays a list of insurance quotes from many of the UKs best known insurance providers. This results page identifies the cheapest policy available to each user as well as showing the level of cover each policy would provide.

Another reason to shop around for your car insurance policy is that loyalty is often not rewarded by car insurance providers. The car insurance market is extremely competitive and insurance providers are forced to compete for business by pricing their policies aggressively for new customers. A common and successful tactic for insurers is to offer a low insurance quote for the first year to attract customers and then raise premiums the year after in the hope that the policy holder automatically renews. It is important to remember that the cheapest insurance provider one year will not necessarily be the cheapest the year after.

A final point to bear in mind is that the cheapest available policy is not always the best value policy. Be sure to consider the cover and benefits a policy offers as well as the total excess that you would have to pay should you be involved in an accident. It may be the case that by spending a little extra you will receive superior cover.

Breakdown cover is one of the additional features which are most commonly omitted from car insurance packages. However, you may be forced to pay over the odds for an extensive car insurance package which features additional features such as this; meaning that it might work out cheaper to purchase a breakdown cover policy separately from your car insurance package. This is a situation will vary depending on the policy holder. You can also compare breakdown cover policies on MoneySupermarket.com to make sure that you are getting the cheapest deal available.

When it comes to purchasing your car insurance policy, it is important to keep all of the above points in mind. Both car insurance and breakdown cover costs can vary significantly from one insurer to the next. The only way to ensure you get the best deal possible is to compare policies using price comparison sites like MoneySupermarket.com.

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