Financial problems have become a common theme in most households these days on account of everything that’s happening all around us at a breakneck pace. A hike of about 69% in unemployment was observed in April alone, which means that an astounding 856,500 British citizens applied for unemployment allowance and universal credit in one month. Therefore, it makes sense to look for methods that can help in curbing unnecessary expenses as best as possible.
Now, car insurance is certainly necessary for both legal and safety reasons, but given that 70% – 80% of the British population are not driving daily anymore, most customers want cheaper car insurance plans,which are more attuned to their present financial and driving situation.
What Options Do We Have?
Although insurance companies may or may not make it apparent to you, there are a few ways to reduce the cost of car insurance. These can be summarised as follows:
Ask your current insurer for a discount on the basis of lower mileage
Compare car insurance policies and find a more suitable option
Suspend or cancel your car insurance after filing a SORN for your car
Asking for a Discount Based on Reduced Mileage
Your annual mileage is a factor in your car insurance premium, so if you’ve dramatically reduced your mileage during lockdown and are likely to continue working from home for some time it might be possible to reduce the mileage on your policy, which could in turn result in a discount on your premium.
Comparing Car Insurance Policies
When a customer decides to compare car insurance companies, policies, premiums, coverages, etc, it becomes one of those rare occasions where they actually get the upper hand for a change. Using a comparative platform such as Quotezone.co.uk, you can put the current situation in your favour, instead of relying on the mercy of your present insurance company.
Cancelling your insurance after applying for a SORN
With high unemployment rates, massive pay cuts, lost revenues, and a severely reduced need for driving, more people than ever before are either suspending or dropping their car insurance coverage completely. However, you must not do this unless your car has been declared SORN and is not parked on a public road. Also, bear in mind your vehicle won’t be protected from theft or damage.
Given that these factors have also decreased the income of insurance companies drastically, you can make them compete for your business on Quotezone.co.uk. As they try to outbid each other by giving you the cheapest and the most value for money insurance quote, you gain the upper hand even amidst all that is going on.