Well, it’s that time again, you need to renew your car insurance, so your spending many precious hours browsing around on the internet for the best deal. Comparison websites are a good place to start, but did you realise that many of your preconceptions about insurance are wrong? You might well think that sticking with your current insurer and avoiding the fully comp option will bring the costs down considerably, but more often than not, this is incorrect.

A great way of keeping insurance prices down is to stay away from brand new cars, and instead, pick up a second hand model. You can pick up used cars in Warwick, Birmingham, and every other major UK location, so you should have plenty to choose from.

Here is a guide to some of the most common car insurance myths – we’re going to blow them right out of the water!

Sticking With The Same Insurance Company

Although many people believe that insurers reward loyalty, well over nine billion pounds were wasted in the UK last year because of this misconception. Insurance companies may well offer you a fantastically enticing deal during year one to get you on board, but we are finding that increasingly, many insurers then raise their prices in year two.

Unless you’ve been with the same company for over eight years, it’s really worth shopping around because you’re almost certain to find better deals with other insurers.

Buying Direct From The Insurer

A lot of people think that price comparison websites add a commission to any insurance bought through their service – this is not the case. In truth, you don’t pay for the comparison service at all, and many drivers end up saving around 35% or £157 per year when they use websites like MoneySuperMarket.

Don’t take my word for it. Do some investigation work yourself.

Third Party Is Cheaper

Most drivers on a budget don’t even bother looking at fully comp prices, as they assume they will be much higher than their third party quote. However, this isn’t always the case. If you’re a young driver, you’re likely to find that fully comp cover can often end up cheaper than third party (according to a recent survey carried out by a major comparison website).

So make sure you spend a considerable amount of time searching online for the best deals to suit your needs.

Insuring In Parents Name

Adding yourself as a named driver on a parents existing insurance package is a sure fire way of saving you cash. The only problem of course? It’s illegal. The practise is known as “fronting” in the industry, and people who do it could well end up with no cover in the event of a crash. So don’t make the same mistake others have, and insure yourself from the onset.

Hopefully some of the most common car insurance myths have now been busted. Your best option is always to ensure you have your own, individual, fully comp, cover. Don’t believe me? Have a look for yourself!

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