Save money on your car insurance and your broadband tariff | Tenant news

Having a car and home broadband are essential items for most people, but they’re costing more than they used to.

Price comparison website MoneySuperMarket reported that car insurance premiums have risen by more than a third in the first quarter of this year compared to the same period in 2023.

The average monthly premium price was £139.45 – that’s 67.6% higher than in the first quarter of 2022 when the average was £83.18 - and 38.4% higher than the first quarter of 2023, which was £100.71.  

Meanwhile, many broadband providers have hiked their prices by up to 7.9% this year.

This isn’t great news, but you can pay less for car insurance premiums and broadband if you’re prepared to shop around.

Car insurance

September is peak time for car insurance renewal because it’s a month (along with March) when new car registrations are released.

If your premium is coming up for renewal, don’t auto renew, check whether you can get a better deal elsewhere.

The best time to check is three to four weeks before it’s due to end, so now is a good time to look for new deals, according to MoneySavingExpert. Their website has a tool you can use to find a cheaper car insurance quote .

The tool tells you if you can make your quote even cheaper by adding a responsible additional driver or if you can save with a multicar policy, and more.

If you’re not close to renewal, you may still want to check insurance prices now in case you can save big by cancelling and renewing early.

MoneySavingExpert says that provided you haven't claimed this year, you can just get a new policy, cancel your existing policy, and get a pro-rata refund if you paid upfront, minus an admin fee of around £50.

The downside is that you won't earn the year's no-claims bonus, but it may be worth it if the savings are big.

Broadband tariffs

The good news on the broadband front is that from 17 January 2025, broadband (and phone and pay TV) providers have been banned by Ofcom from including price-rise terms in all new contracts. BT and Vodafone have already changed their pricing practices in response to Ofgem’s consultation.

If your deal is ending soon, look for better deals on websites such as Uswitch and MoneySavingExpert, which list the latest offers. You may also be able to swap mid-contract, but don’t forget to read the terms and conditions before doing so.

Social tariffs

Broadband social tariffs are discounted broadband rates for people who are on certain benefits. They offer the same service as normal broadband packages, just at a lower price.

According to Ofcom, while they’re available to an estimated 4.3 million households, only 220,000 (5%) have signed up to one. Ofcom says this means millions of households are missing out on an average annual saving of £200 each.

There are more than 10 broadband providers offering broadband social tariffs, and you could switch to any of the social tariffs available. Ofcom has a list of current deals, with prices ranging from £10 to £30 a month.  

All major providers offer social tariffs for households that include someone who claims Universal Credit. The person receiving the benefit needs to be the main person on the contract.

Some providers also include people on Pension Credit, Employment and Support Allowance, Jobseeker’s Allowance and Income Support, while others might include additional benefits, like Personal Independence Payments. Either way, it’s definitely worth checking out.