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Car insurance is a complicated business. Tic all the wrong boxes and it can cost you a fortune. So how can you save money on car insurance? What are the critical factors? It''s all about your personal circumstances and the way that you buy. Leaving aside personal circumstances for the moment, as these can be the most difficult and costly things to change, the correct approach to buying car insurance can save you a fortune. Put another way, identical circumstances can meet with wildly different car insurance costs if you don''t know how to play the game. The Association of British Insurers (ABI) reported last year that a 35 percent saving on your car insurance premium can be achieved by comparing the quotes of as few as five different car insurers. Online comparison makes this easier than ever before. The task is also aided by the growing number of providers. Some of the high street banks like Santander have now got into the car insurance market, increasing choice and competition and therefore your chances of finding cheaper car insurance deals. Consumer Intelligence reported in August 2010 that half of car insurance customers could save as much as ?185 by changing provider. While part of the reason for this high figure is the numbers of people that stay with the same insurer after an initially good introductory deal renews into a less competitive one, these figures are good news. The bottom line is that you should shop around each and every year as your renewal date approaches. This tactic will still make sure that you never pay over the odds for car insurance. The 14 day cooling off period means that there really is nothing to stop you. Take a good deal when you see it, and then cancel the policy free from financial repercussions if you then see a better one during the cool off period. Once the selection process is over, a one lump yearly payment is generally the best way to pay. Monthly instalments are usually a kind of loan from the insurer to you, for which you''ll be charged interest. Although this is not always the case, be sure to check the difference between the upfront payment cost and an instalment plan before opting for monthly payments.
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Milissa Darnstaedt is a long standing petrol head and freelance writer. Milissa Darnstaedt recommends checking out the Santander''s range of car insurance.
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