Price beat guarantees can be a quick way to potentially lower the cost of your car insurance, but terms and conditions will generally apply. If you're looking for the cheapest car insurance, a price beat offer doesn't automatically mean it's the lowest price you could get.
The terms and conditions may vary between insurers. The following is an example for Everyday car insurance, so you can see how it works.
Your renewal notice has to be for a comparable car insurance policy. As such, if you use the offer it means you’re likely to find comparable cover, at least $1 cheaper than before.
Even if an insurer doesn’t have an official price beat deal, that doesn’t necessarily mean it won’t be willing to match other offers, so it can be worth getting a range of quotes and taking your time to shop around.
Premiums will often rise over time, so it may be worth looking for new quotes when it’s time for renewal.
This can be particularly useful because many car insurance discounts only apply to the first year of cover, just like price beat offers. These discounts are often impressive and easy to get, such as 25% off just for buying online, with the main catch being that they’ll run out after the first year.
As such, getting new car insurance quotes each renewal time might be the most effective way to find beat-price car insurance. Once you’ve found great value for money car insurance and are finding it difficult to get cheaper quotes for equivalent cover, then you might be able to get the most benefit from price-beat deals.
As such, the main tip for finding beat-price car insurance might simply be to shop around and get quotes from a range of providers, as well as taking steps to lower your premiums before asking for price matching offers.
Your car insurance might not be as good value for money if you’re getting lower premiums at the cost of cover.
Before committing to a switch, there are some features you may want to consider:
It’s also worth looking at the different extras that a policy might offer. For example, you may not want to get slightly lower premiums if it means giving up roadside assistance.
Price and quality are both important considerations and “value for money” is where they intersect. Price beat guarantees can be very useful because they might be a way of ensuring you’re switching to equivalent cover rather than facing a significant downgrade, but it’s worth remembering that these deals often come with terms and conditions of their own.
It’s also worth remembering that a price beat deal might only be saving you $1 a year. If you go to a provider and specifically ask for a price beat deal, you might end up paying more than you would have if you simply got a new quote and made the switch.
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