Tag: money saving advice

Car insurance costs squeezing British motorists

British motorists are being given top tips on how to save money on their car insurance policy after concerns premiums are on the rise.

In a year many goods have increased in price, car insurance premiums are no exception.

Insurance price comparison specialists Quotezone.co.uk are urging drivers to take steps to lower their premiums.

One of the most important money-saving tips is to do your homework, compare different providers, and never let a policy automatically renew. 

Drivers need to strike a good balance between cost and coverage, ensuring the policy has all the essentials they need at a competitive price.

Among the list of money saving hacks is shopping early, improving vehicle security, building up the no claims bonus and being mindful of where the car is kept overnight.

These simple tips can come in very handy for those looking to make cutbacks on their insurance expenses without making any major changes.

Quotezone.co.uk Founder and CEO Greg Wilson said: “It’s concerning to see car insurance prices on the rise.  The soaring cost of repairs, materials and even paint, has all had a knock-on effect on premium price.  The volume of claims is also increasing, partly due to the extreme weather we’ve witnessed recently.

“However, we can help, there are ways to save and using our comparison site is an ideal platform to compare products, to make sure you’re getting the cover you need, at a price you can afford.

“While aiming to secure cost-effective coverage, it’s crucial for drivers to ensure they’re not compromising on protection in case of accidents or unforeseen circumstances.  Often there’s very little difference in price between third party cover and fully comprehensive, so if you can, it’s best to safeguard your finances and go fully comprehensive.

“It’s also important to always give accurate information when getting a quote, as any incorrect information can invalidate your policy and leave you unprotected.”

Here are Quotezone.co.uk’s top 10 tips to help get a cheaper insurance premium:

  1. Shop early

It’s better to plan ahead and buy your policy early to lock in the price, as premium prices tend to increase the closer you get to your renewal date. The optimal time for bagging the cheapest deal is three weeks before the new policy is due to start.

  1. Pay annually

If possible, it’s best to pay the entire annual premium upfront to save hundreds in the long term. Insurance providers look at monthly instalments as loans and can have high interest rates.  Consider paying it all in one go to knock cash off your policy.

  1. Improve vehicle security

Most vehicles should have an alarm and immobiliser as standard but it’s worth installing anti-theft devices such as a tracker and dashcam – it will upgrade the vehicle’s security and could get you cheaper premiums. Get the policy quotes first to consider whether the extra cost of fitting the devices will be worth it for the insurance savings.

  1. Review your policy

Make sure to only pay for what you need and avoid driving up the premium by adding unnecessary add-ons – such as annual mileage, make sure your estimation is accurate.  Also check your vehicle use, if you use it to drive to the train station for your commute to work it still needs to be noted as used for your daily commute.  If you now work from home full-time, it might be worth switching the vehicle use to social only, it could result in big savings.

  1. Add another driver

If you add another driver to the policy then you may be eligible for a multi-driver discount, plus you can split the cost of the premium. It can be particularly beneficial if the other person is an experienced driver with a clean record as they pose less risk to the insurance company, which could lead to lower premiums.  Just make sure the person who uses the vehicle the most is noted as the main driver, incorrect use of this information is known as ‘fronting’ and is actually illegal, likely resulting in a criminal record and a void insurance policy.

  1. Park in a safe place

Car owners that make use of their garages, driveways or carports for overnight parking can make big savings on their car insurance – parking on driveways rather than on the road can save you over £140 on average every year. Carport owners can do even better, with savings coming in at £230 on average.

  1. Build up your no claims bonus

Avoid filing small claims to build up your no claims bonus. Opting to pay for minor damages out of your own pocket instead of filing a claim can prevent potential premium hikes.

  1. Opt for a telematics product or black box

Getting a telematics device or black box fitted allows drivers to showcase their safe driving which can lead to cheaper premiums. This is a good option for young drivers and those with previous motoring convictions who are charged more as they are seen to be more at risk. By using the device it’s giving the insurance company data on which to base its risk analysis.

  1. Avoid penalty points

Penalty points on your licence may not only result in a steep fine but will also bump up your insurance costs too. Drivers can expect premiums to rise by 5% for three points and 25% for six points if they’re starting from a clean licence.

  1. Compare everything

Don’t allow your policy to renew automatically or settle for the first insurance quote you receive. Take the time to do your research and compare rates from multiple sources to get the cheapest price on your premium. You can save time and utilise price comparison websites to help you compare providers, compare products and of course compare prices.

To compare up to 110 UK car insurance providers visit:

https://www.quotezone.co.uk/car-insurance.

Ofcom: Save money on your phone, broadband and pay-TV bills in 2024

Now that we’ve rung in the New Year, many people are thinking about ways to save money in 2024. Household budgets continue to feel the pinch amid rising living costs – so it’s important to find out if you can cut costs on your phone, broadband and pay-TV bills.

If you’re looking to get on top of your finances for the year ahead, there are steps you can take to avoid overpaying for these services.

Here’s five things  you can check to make sure you’re not missing out on savings:

1. Are you in or out of contract?

Millions of people in the UK are out of contract for their phone, broadband or pay-TV services and could be missing out on better deals. Check with your provider to make sure you’re not one of them.

If you’re out of contract, you’re probably paying too much and it’s time to see if there are better deals available. Check out comparison sites accredited by Ofcom to see what’s on offer. Talk to your current provider to see if they will match, or even beat, the best deal available. If not, consider switching provider. To find out more, see our guide to switching.

2. Are you eligible for a social tariff?

If you receive Universal Credit, Pension Credit, Employment and Support Allowance, or other benefits, you might be eligible for a cheaper broadband deal. Packages start from just £10 a month and could see you make savings of around £200 a year.

If your existing provider offers a social tariff and you are eligible, you can switch to it at any time, free of charge.

To find out more about the range of social tariffs on offer and to see if you might qualify, check our guide.

3. Could you save using a SIM-only tariff?

If you’re looking to save money on your mobile, check out offers available on SIM-only tariffs. If you already have a handset and just want a monthly allowance of calls, texts, and data, this could be the best option for you. They’re often cheaper than a contract with an inclusive handset, and many tariffs cost less than £10 a month.

If you don’t already have a handset, it’s usually still cheaper to buy a handset separately and use it with a SIM-only plan. However, a one-off payment for a handset can still cost a significant amount and might not be affordable for everyone.

4. Could you save on broadband with a bundle?

If you need a landline service too, you can save money by getting your broadband and phone as part of a bundle deal. Our recent research revealed you could save as much as 34% by bundling these services with the same provider. Check with your provider to see what packages they offer and whether these suit your needs.

If you don’t need a landline and you’re looking for a standalone full-fibre broadband package, it’s worth checking out smaller providers as well, with packages available from between £25 and £50 per month.

5. Do you use all your pay-TV subscriptions?

It’s easy to sign up to a range of pay-TV and streaming services with so much great content on offer – and many homes have multiple subscriptions on the go.

But if you’re trying to save money, it’s worth thinking about how much you use these services and whether you’d be missing out if you cancelled them.

Many streaming services can be cancelled – or paused – straight away without needing to pay any sort of penalty, so it could be useful even as a temporary measure.

More information

We’ve got  more tips on cutting costs on your phone, broadband and pay-TV bills.

Fuel to hit £2 A LITRE? Tips to help you save at the pump

As households across the UK brace themselves for the impact of the cost-of-living crisis, CarStore’s Personal Advisors offer some tips to follow in order to improve fuel economy.

Mark Akbar, Managing Director at CarStore, said: “As prices at the pump are increasing rapidly and the cost-of-living crisis escalates, it’s more important than ever that drivers make the most out of every drop of fuel, improving driving economy and saving themselves money in the process.

“At CarStore our Personal Advisors are committed to listening and putting our customers’ needs first and we want share any informed, impartial advice that we can to make our customers’ lives easier and more affordable.”

“There are many different techniques and habits you can incorporate into everyday driving that will have a positive impact on your vehicle’s fuel economy. Try following even just a few of CarStore’s tips and tricks below and you may be pleasantly surprised just how much difference a change in driving style and habits can make to the miles per gallon you’ll achieve.”

  1. Check your tyres & Tyre Pressures

One of the biggest factors in terms of fuel economy is the performance of your tyres – they are, after all, the only thing that connects your vehicle to the road. Having your vehicle’s tyres inflated to the correct pressures has a significant impact on your vehicle’s fuel economy. Under-inflated tyres can have a detrimental effect on your mpg by as much as -2.5%.

  1. Always anticipate

Simply anticipating what is likely to happen in front of you when driving will greatly improve your efficiency as well as reduce wear and tear on your car’s brakes.  While maintaining your focus on the vehicle directly in front of you, take the time to look further ahead to see what’s going on. If there’s a red light, try to lift off the accelerator  a little earlier than you might normally, without taking it to extremes of course. If the lights change, you’ll still be rolling and you’ll spend less time getting up to speed, using less fuel in the process. Simply put, the less time you spend with your foot on the accelerator, the less fuel you will use.

  1. Accelerate and Decelerate Smoothly

When the lights turn green, don’t stamp on the accelerator and get up to speed as fast as physically possible. Accelerate briskly but smoothly, reaching the desired speed in a reasonable time frame so as not to frustrate your fellow road users behind you. Don’t wait until the last minute to come to a standstill either, lift off the gas nice and early and brake gently until you come to a stop.

  1. Remove Excess Weight

The heavier your car is, the more fuel it will use trying to get from A to B, so anything you can do to make it lighter will save you money. Roof boxes and bike racks are the main culprits, but simply having a good clear out of what’s in the backseat and the boot can have a positive impact as well.

  1. Check Your Speed & Use Cruise Control

Always being mindful of the speed you’re travelling at is good, safe practice anyway, but it can help in terms of fuel economy too. Motorists should adhere to speed limits at all times so as they aren’t breaking the law, but saving money is another solid reason to do so. For instance, travelling above the national speed limit at 80mph instead of 70mph will use an extra 10% of fuel, as well as cost you extra money in speeding fines too. Cruise control only helps the situation too. Slowing down and speeding up increases fuel usage in a big way, so letting the car maintain the exact cruising speed for you whenever possible is simply the most efficient way to get around.

  1. Use Your Gears Properly

It’s not part of the driving test to learn how to use your gears efficiently, you simply have to be able to use them to get the car to move at various speeds. However, to make the most out of every drop of fuel and maintain maximum efficiency, it’s vital that you’re always using the right gear at the right time. Be careful not to over-rev the engine, as this will use more fuel, and make sure you don’t labour the engine by being in a gear that’s too low for the speed and terrain. Generally, petrol cars are at their most economical between 1500 and 2500 rpm, so you should aim to change up to the next gear whenever you exceed the higher end of that band. For diesels, it’s between 1300 and 2000 rpm.

  1. Service & Maintain Your Car

Ensuring that your vehicle is in tip-top mechanical shape is vital when making sure that fuel economy is as good as it can be. A car that has its engine serviced regularly and in line with service schedules using the correct parts, fluids and lubricants will work better and be more efficient than one that isn’t. It’ll be more reliable too. Wheel alignment (also known as tracking) can also have a negative effect on fuel economy too, and it can be knocked out by something as simple as a pot hole in the road, so make sure you get it checked regularly.

  1. Avoid Unnecessary Idling

When the car is standstill and the engine is turned on and idling, you’re getting precisely 0 miles per gallon from your fuel. This is because fuel is being used but you aren’t going anywhere. So, waiting for a mate outside their house? Turn the engine off. Eating your burger at the drive thru? Turn the engine off. And yes, even if you’re defrosting your car, if you want to save fuel, you’ll have to turn the engine off. Modern cars with “stop/start” technology save fuel by turning the engine off while the vehicle is stationary. If your car has this function, keeping it turned on is the best thing you can do for fuel economy.

  1. Use Air Con & Heating Functions Wisely

As a general rule, anything that drains the car’s battery in any significant way is also a drain on your car’s fuel tank. This is because it uses the alternator to charge the battery back-up, which is powered by the engine, which needs fuel to work. Air con is the biggest culprit here, increasing fuel consumption by around 5-7% in town driving. At higher speeds the effect is less noticeable, and using the air con at motorway speeds is actually more efficient than having the windows down because of the drag that’s created. Heated seats, heated steering wheels, heated windscreens and anything else heated will use extra fuel too.

  1. Don’t Coast

Many drivers, particularly those who are used to driving cars from the ’70s and ’80s or even earlier, will swear that putting the car into neutral while going downhill or coming to a standstill will reduce fuel consumption because the rpm is lower. This is not true, certainly not of modern vehicles. Simply leaving the car in gear and coming to a stop – without labouring the engine – means you won’t be using any fuel at all. This is because the engine is using the drive. Coasting can also be dangerous too, as you’re less in control of the car.