Household bills are soaring due to the cost of living crisis, but you can save hundreds of pounds on car and home insurance if you know how.
The cost of energy, food, petrol and more have been rising – and insurance is no different.
In fact, the cost of car insurance is now at the highest level seen since the last quarter of 2020, according to consumer organisation Which?.
Jenny Ross, of Which?, said: “After an extended period of comparatively low premiums, insurance costs are on the rise, putting more pressure on household budgets.
“However, there are steps you can take to minimise these costs and make sure you’re getting the best deal possible.
“It’s always worth shopping around or haggling for a better deal, and consider getting a black box policy to keep costs low, particularly if you’re a younger driver.”
Knowing a bit about how the insurance system works can mean shaving huge amounts off your bills, helping save cash at an all-important time.
Don’t auto-renew – and save £49
Drivers who allow their car insurance policies to automatically renew pay £49 a year more than those who switch.
Price comparison website MoneySuperMarket found that millions of drivers could be overpaying for their car insurance, at a time when premiums are rising.
Switch provider and save up to £120
If out of contract, or nearing the end of one, customers should consider switching providers to save.
Research by Compare the Market analysed both the average premiums and cheapest premiums quoted to drivers.
It found that the cheapest quotes rose by £42 in the first quarter of the year to reach an average of £568.
It concluded that this means drivers could save up to £120 by shopping around to find a better deal.
The savings increase dramatically for drivers aged under 25, who could shave an average of £257 off…