Car insurance has soared by £100s but here’s how you can cut £280 off your motor premium
Car insurance is now 12 per cent higher than it was a year ago, but you can save hundreds by shopping around
CAR insurance is on average £100 more than it was a year ago, according to figures revealed today.
Drivers are having to shell out an extra 12 per cent for their premiums compared to the beginning of the year, at a time when petrol costs are also rising.
Comparison site MoneySuperMarket analysed 873,000 customer quotes run on the website during November 2016 and found annual premiums are now £597 on average, almost £100 more expensive than they were at the start of 2016.
Although premiums have risen steadily this year, there have been sharp rises in the past few months.
In August the average premium was £525, jumping to £549 in September, £572 in October and £597 in November - a four per cent rise in just one month.
Petrol costs are also going up, with prices now around £1.20 a litre.
Kevin Pratt, consumer affairs expert at MoneySuperMarket, said that we need to see "concrete action" from the government to bring down premium inflation "as a matter of urgency".
"This is especially the case given that the Chancellor, in last month's autumn statement, announced a 20 per cent increase in insurance premium tax from next June, up to 12 per cent on all car and home insurance premiums," he said.
How to save money on your car insurance
Shop around for the best deals
Mr Pratt added that it was important for every motorist approaching renewal to run a quote to find the best price for their next year's policy.
Simply rolling the policy over with the same insurer - what's known as 'auto-renewal' - means drivers are almost certainly paying more than they need to.
By shopping around for cheaper deals, motorists could save more than £280.
Drivers can use websites such as MoneySuperMarket, Gocompare and Confused.com to compare deals.
Not all insurers, including Direct Line and Aviva, appear on comparison websites, so make sure you check their deals separately.
Add an extra driver to your policy
It is illegal to claim someone is the main driver when they’re not, but adding a secondary driver can save you some money and is within the law.
The ideal secondary driver to add to your insurance policy would be someone with a clear driving license and a good no-claims history.
Pay your premium in full
If you can afford to stump up the cash outright, you should pay for your car insurance in annually rather than monthly.
Insurers usually whack on hefty interest charges if you pay monthly, so you can make significant savings by paying upfront.
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