How-to Guides » OLD GUIDE Lower your household bills

Cut your insurance spend

2 tips on this task  |  Tweet

1) Pay upfront
Home and car insurance providers charge fees equivalent to 20% APR for paying by direct debit, and those paying their TV licence quarterly are charged an additional £1.25 per quarter.

In these cases, it’s better to pay upfront where possible.

2) Reduce your car insurance spend
There are many deals to be compared and sought when it comes to car insurance – so be sure to shop around!

If you’re a young driver who’s just passed your test, Pass Plus is an additional qualification which teaches you how to anticipate and deal with everyday hazards – plus it could cut hundreds off your car insurance bill.

3) Play with your excess
When it comes to buying insurance, one way to cut your premiums is to raise your excess

However, it’s important to remember this tactic may backfire should you need to make a claim. Read Ten ways to cut your car insurance costs and How to buy home insurance for more ideas.