How I Saved Money Shopping For Insurance Online

I was aghast at how much money I paid last year for car insurance - $2500 in premiums.

For 2012, with a renewal fast approaching, I decided it was time to look around at my options. I’m in the 30 to 40 year old bracket, have a maximum no claim bonus and unfortunately drive cars that combined, have a current value of about $55,000. So paying $2500 a year in premiums seemed expensive.

I did some videos for I-Select that explain broadband technology (yes, I was paid to present in them) and so I felt the best place to try getting a better deal was their motor insurance comparison site. It took about 5 minutes for me to plug in all my details and then get a quote. As I have two cars I needed to get two quotes, and also, to ensure I was comparing ‘like-for-like’ I checked off the details of my current policy with the options provided on the new.

So what was the end result? I ended up about $1000 better off – that is about a 40 percent saving for spending five minutes clicking around. Tonight, I am going to do the same exercise for other expenses like electricity, home insurance and more. There are also services that find you the best deal for mobile phone and broadband, however I have those two areas covered already!

To try this out yourself you are looking for a comparison tool. So search for comparison tool and then add what you are looking to save money on, and you have begun.

And just so we are clear, I started with I-Select for this exercise because of a past commercial relationship, during which I know they are a legitimate service provider following my dealings with them in 2011.

Check out the comparisons here.