I was hit with massive £60 increase in my car insurance but managed to get it down to just £1 – here's how | The Sun

A DRIVER has revealed how he saved big on his car insurance, with his annual bill increasing by just £1 rather than the £60 he was first quoted.

Gareth Butterfield shared the "golden rule" which helped him keep costs down as he renewed his policy amid inflation and a cost of living crisis.

Writing for the Stoke Sentinel, Gareth said: "Lots of things have increased in price this year – from food and fuel as well as car insurance.

"So I wasn't surprised at all when the renewal quote for my 2011 Fiat Panda rose significantly. But I knew all was not lost.

"And, after trying a few simple tricks, I got it down to just £1 more than the previous year."

For context, the initial offer would have seen his premium rise from £220 to £280 but, thanks to his handy hacks, he is only paying £221.



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The most important tip he had, his "golden rule", was to never accept the renewal quote that your insurer initially offers you.

While it seems the easiest thing to do, you have to remember that insurers are competing for your business and will likely go the extra mile to give you a better deal than their competitors.

Gareth claimed that haggling has reduced his bills by at least a few pounds "every time", especially with minor tweaks to information like his job title or where he parks his car.

Related to this, he also recommended shopping around on comparison sites and taking advantage of freebies offered to entice new or returning customers.

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This will help to make sure you get the best rate possible and even some extra perks out of your new deal.

Gareth also suggested considering making changes to your policy to fit your needs.

For example, adding a named driver or taking out a multi-car policy can save you money overall.

And you can also make little investments to see savings in return, like signing up for an advanced driving course or joining an owner's club, the latter of which can save you up to 5% of the cost of insurance.

Likewise, spending a few quid to fit a dash cam or a black box can noticeably reduce your costs and some insurance companies will even fit one for you.

You can also cut out paid-for benefits like breakdown cover or a courtesy car as well as increasing your voluntary excess.

Just be careful to only do so if you can afford to as, if you do get in an accident, this could come back to bite you.

Finally, Gareth urged drivers to pay annually as, while it is a bigger lump sum, it is far cheaper in the long term.

Since car insurance is taken out annually, if you pay month-on-month you effectively receive a loan of the remainder of the length of your policy until you manage to pay it off.

This allows companies to charge interest on the repayments, meaning you could actually end up paying hundreds more every year.

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