It is common to hear people from our fair land complaining about the high cost of various goods and services. After all, few people enjoy spending their hard-earned money. However, how do you know when you are really paying too much for an item? UK car insurance is a major expense for most drivers, so it’s understandable that many go to great lengths to best the most cost effective cover. For those not quite so savvy, here are a few key signs that you may be paying too much for this essential cover. 

1. Your Premium is Not Affordable.
Most drivers love to complain about the cost of their premium, but if your insurance premium is truly not affordable for your budget, this is a sure sign that it is time to shop for a lower rate. You can easily request a new estimate online within just a few minutes, and you might be pleasantly surprised to learn how much money you could save by purchasing a new policy.

2. You Haven’t Shopped for New Rates Recently.
Insurance rates are calculated on everything from your age and driving history to the value of your car and other related factors. Many of the factors used to calculate rates change from time to time, so it’s beneficial to shop for lower premiums at each renewal. You could save a small fortune compared the astronomical rates often quoted on an auto renewal.

3. You Don’t Know Which Discounts Your Current Policy Uses.
There are numerous discounts that you may enjoy using on your car insurance policy. For example, you may enjoy a discount for having multiple cars or for opting for a mileage restricted policy. You should check which discounts are applicable for you to help “drive” a better bargain for your cover.

4. You Haven’t Been Looking For Optional Savings.
In addition to discounts being applied to your account, there are other savings offers that you may qualify for. For example, you may qualify for cash back or vouchers if you refer a friend. Keep your eyes open for these promotions and take advantage of them when possible.

5. You Are Paying More Than Your Friends Are.
Different rates will apply to different drivers, and these rate variations may be based on differences in the car being insured, the driver’s driving history and other factors. However, if you have compared notes and are paying considerably more than your friends are, there is a good chance that you are paying a higher premium than necessary.

If you can relate to any of these tips, it could well be time to get new quote and choose an alternative insurance provider. For very little effort you could reduce your insurance costs by a large amount.