How to save on your car insurance renewal this year

We are undoubtedly entering peak car insurance season. It’s that time of year where you might be scratching your head thinking that you forgot something, if you are, maybe check when your car insurance is up for renewal. Insurance searches are on the rise due to people now getting their affairs organised during the second lockdown. While we all want to get car insurance renewed as quick and as seamlessly as possible we also want to ensure that we can get the best deal possible on the price of our cover. So, if your car insurance is coming up for renewal or indeed, your buying a new car, here are some tips:

1.Pay annually.

While you might be of the belief that paying your car insurance monthly is more effective for cutting costs because it spreads out the financial strain, it actually isn’t. Paying in instalments can actually end up costing you significantly more. Research shows that in some instances an interest rate of up to 20% APR can be charged to customers who choose to pay monthly.

So it’s best to pay up front and get the cost out of the way.

2.Consider a telematics policy.

Little black boxes aren’t just planes. A telematics policy known also as ‘black box policies’ involve having devices installed into your car to track your driving. These black boxes are fitted into your car. They’re small and neat and virtually unnoticeable to the average passenger in the car.

This little black box is continuously recording data as you drive. It pays attention to mileage and speed primarily while also recording other factors. If your driving passes criteria laid out by the insurer then you will be rewarded with discounts.

While the option of the black box doesn’t appeal to everyone, it’s definitely something to consider if you require a cheaper renewal.

3.Renew your car insurance in advance.

According to new research the best time to renew your car insurance policy is 3 weeks before your car insurance is due to expire. Those who wait until the day the renewal is due to renew can experience far worse prices than their original premiums.

Despite the savings that can be made by renewing your car insurance in advance there is still a very prominent ‘last-minute’ culture with regard to insurance renewals. According to motoring research UK 35% of UK motorists wait until the day before their policy ends to search for a new quote. Only 3% of drivers searched for a new policy three weeks in advance of cover elapsing.

So why incur additional costs when there really isn’t any need. Check your car insurance policy and identify the date that the cover ends. Then set a reminder for one month prior to contact your insurance broker.

4.Buy your homeowners insurance and car insurance form the same provider.

If your car insurance provider happens to also offer homeowners or van insurance etc then you should try to source all of your insurance policies from the same provider. Many insurers will give you a discount break if you buy two or more types of insurance from them. You might also receive a discount if you have more than one vehicle insured with the same company.

Some insurers also reduce premiums for long term customers, so it might be worth mentioning if you have been with the same provider for years.


5.Use an insurance broker.

Lots of people will stress the importance of ‘shopping around when it comes to purchasing car insurance’. They’ll tell you to do research on various companies, policies and supposedly ‘cheap premiums. It can be incredibly daunting trying to navigate your way through all the different companies and jargon when you’re a young driver, that’s why using a broker can help.

Insurance brokers do the bulk of the shopping around, so you don’t have to. Young driver specialists at brokerages are familiar with all the insurance providers so they know the ultimate best deal you can get.

6.Seek out other discounts

There are other discounts that your insurer may offer to policyholders. For example, some companies offer discounts to those who've not had any accidents or moving violations during a specified period, or who have taken a defensive driving course. If there is a young driver on your policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate.


Ask your insurer what discounts you might qualify for, but keep in mind that what's important is the final cost of your policy. A company that offers few discounts may still be able to give you a lower overall premium price.


At we want to ensure that you always get the best cover at the best price. It’s important to always be prepared for the unexpected and our brokers can help you with that. We will also do our ultimate best to ensure that you get the best price around. Reach out to us today.




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City Financial Marketing Group Limited T/A is regulated by the Central Bank of Ireland. City Financial Marketing Group Limited is a company registered in Ireland. Registered address: Insurance House, 62A Terenure Road North, Terenure, Dublin 6W, D6W CF54. Registered Number 235088.