Motorist grabs 'cheapest' auto insurance deal
A woman has managed to secure the cheapest car insurance policy one financial advice website has ever seen.
Barbara Wakerell, a civil servant, is currently paying 96 pence for an annual auto insurance policy because she refused to take her existing supplier's renewal package.
According to the website, renewal offers from auto insurance firms are notoriously bad value but Ms Wakerell managed to secure the bargain by trawling the internet and taking advantage of cashback sites.
She discovered a policy for £120.96 from insurance firm Swinton, which also came with a £70 cashback incentive, and then placed the order using rewards website Quidco.com, giving her another £50 discount.
Ms Wakerell said: "I'm always looking for a bargain so when I found my car insurance for £120.96 I thought I was doing well. But when I also got £120 cashback I realised I had done really, really well. Can anyone beat that?"
Martin Lewis, founder of Moneysavingexpert.com, added: "While many report getting insurance for under £100 following the system, we thought the previous £14 record was near invincible, so it's wobbly legs time to see Barbara's 96 pence price."
Moneysupermarket.com recently claimed that those looking to reduce their auto insurance premiums in the difficult economic climate may be disappointed with specialist companies.
Auto insurance providers who are selective about their client base only give their best prices to those who match the their risk assesment criteria, according to the site.
By Ted Maul
© Copyright
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