Whether cheap car insurance means a policy that suits your budget, or the best car insurance equals cover that fits your needs, policy renewal time may be an ideal opportunity to switch. If you switch at renewal, you can avoid mid-term cancellation fees, and you’ll already have your details on hand from your renewal notice. And if your circumstances have changed, you can always switch earlier. Maybe you started using public transport for work or you’ve started working from home – why not seek some car insurance quotes to compare?
Many car insurance companies offer similar types of cover, but the features and benefits of each can vary. Doing your research before you start gathering car insurance quotes may help you better understand your needs and priorities. You could start by listing what matters most to you in a car insurance policy – whether that’s getting the cheapest car insurance or a policy with optional covers. If you’re a one-car family, for example, a hire car in case of an accident might be something you consider essential.
Look for features such as contents cover, roadside assistance, or towing, so you know you have the basics down. Payment options may be another factor. Most car insurance companies let you pay your premiums monthly, but some offer lower premium prices for paying annually upfront.
Don’t forget about excess amounts. Check how flexible insurers are with excess options, keeping in mind that a higher excess typically means a lower premium. Once you've shortlisted a few insurers, getting a car insurance quote from each could help you compare your options in depth.
Once you’ve found a car insurance quote you’re happy with, you will need to select a start date for your new policy. If your current policy is nearing renewal, it might make sense to wait until it expires before switching to get full value from what you’ve already paid. The key is avoiding any gap in coverage between policies when switching car insurance companies to avoid not being covered if something unexpected occurs.
If you’re switching car insurance while buying a car, make sure you provide your new insurer with the correct details, not your old car’s information.
Once your new policy is locked in with a start date after switching car insurance companies, you can contact your previous insurer to cancel your existing cover. Aligning the cancellation date with when your new policy begins can help avoid paying for overlapping cover.
Once everything’s sorted, touch base with your new insurer to confirm your cover is active and you’re all set.
