Budget Blog: Car Insurance Time
//Below is a personal blog post by me Mandi, Sorry guy’s I just had to vent.
I’ve been working on making a budget for the upcoming year recently, and one of the things I’ve been looking into is changing my car insurance. I’ve been with the same company for about six years and annoyingly, customer loyalty doesn’t really get rewards like it used to. I rang them first to see what I might be able to get and it was quite limited.
I’ve spent the past few weeks exploring alternatives, because there’s quite a lot of good first time customer offers that simply wouldn’t be available to me if I stayed. My ultimate goal is to get very cheap car insurance no deposit and a decent deductible.
I’ve already managed to reduce a lot of my car/travel costs – I downsized my car, which has cut down on fuel costs, and I’ve also bought a bike. It might have been an initial expense, but I’m trying to use it for shorter distances. It’s cheaper, and has the bonus effect of helping me lose weight.
One of the big things I’m weighing up is whether it’s worth insuring mine and my wife on the same policy, or as two separate ones. There are offers for going on as a couple, but she rarely drives so I’m wondering if she needs the same amount of coverage as I do. I’m going to chat to her about what she thinks, and might even see if we can negotiate a discount based on her habits. Luckily, our daughter isn’t quite old enough to drive yet, so we have a couple of years before we have to factor that into the cost!
Surprisingly, it’s actually not too tricky to find policies that don’t require a deposit, it just increases the costs elsewhere. Having looked over the plan I’ve drawn for the year, I think taking the deposit money I would spend and putting it into my savings is the more financially sound option, even if it does mean paying slightly more per month. One of the ongoing worries I have is not having a decent amount of savings in case of emergencies, so doing it this way round allows me to start building that account up.
Overall, I’m pretty pleased with myself – I’ve managed to plan out what I want, get a decent amount of quotes, and now it’s just a matter of narrowing down. Sticking to this budgeting thing has been a challenge, but it’s one that I’m enjoying watching pay off. I found my quotes here if you’re it interested by the way: http://www.verycheapcarinsurancenodeposit.com/