After a recent experience, I would like to pass on a small bit of advice for drivers who are renewing their insurance.
My car insurance is due for renewal on 31st January 2018. I got a renewal notice from my insurer reminding me of that fact and advising me that I should send them a cheque for €490 if I wanted to renew it with them.
I picked a few other insurance companies and got some alternative quotes. I gave each of them the exact same information and they came back to me with various prices. A couple of them were in and around €600 while another was close to €1000.
One company gave me a price of €430 which was €60 cheaper than my current insurer, AIG. So, I rang AIG and I told them that I was leaving them for another company. They asked me to hold for a second and then told me that they could match that price.
I was annoyed with them for not giving me that price initially but the point I want to make here is that I saved myself €60 by making a few phone calls and spending a bit of time on the Internet.
There could be people out there renewing their premiums automatically and paying more than they should. Just because you’re with the same company for a few years, don’t take it for granted that they’re giving you the best value for money. There are huge differences between many companies and it definitely pays to shop around.
It doesn’t take long, and it could mean extra money in your pocket.