Car Insurance - It pays to shop around.
I received my car insurance renewal notice on 15/12/2009 and noticed that it was approximately $200.00 higher than when I first insured the then new vehicle for replacement value of around $50k. Given that the car is now 4 years old, and the replacement value would be no more than half of its original value, I decided to do some serious shopping online, to source a better deal.
Immediately, I was able to find several major insurers willing to reduce the premium by up to $150.00 on the same terms as my existing insurer (Budget Direct). I then noticed a newer insurer called youi, and I recalled their TV advertisement where they state they make no assumptions in their pricing, and assess each application on individual merit.
Given that I have been driving for almost 35 years, will be turning 55 in the period of insurance, am the only driver of the vehicle to be insured, always garage the vehicle, am a long standing rating one driver, have never made an insurance claim of any sort, and have had continual comprehensive car insurance since 1984, I felt that I might get a good deal from them.
Did I get a good deal? You bet. I saved significant dollars off the best of the other quotes I received, and I ended up reducing my insurance cost by almost 30%. Thank you youi.
Moral of the story - Never automatically renew your insurances without going online and shopping around first.
