How to get the best deal on insurance, pension schemes and utility bills

Published Thu, Aug 22, 2013 Updated Tue, Feb 16, 2021

Most of us consider the likes of car insurance, pension schemes and utility bills as part of our outgoings, but the majority of people aren’t particularly money savvy and end up losing a lot of money by paying over the odds for these essential policies, funds and services.

Car insurance

Car insurance is one of those expenditures that can range from being dirt-cheap to absolutely astronomical in price. Knowing how to get the best deal and recognising when you’re getting ripped-off is crucial if you want to save money. But you’d be surprised at how many people simply renew their policies each year without shopping around or considering what they could do to reduce the cost. If you’re a young driver, simply adding an experienced driver to your policy can drive costs down by hundreds. More experienced drivers are liable to getting stuck in a rut, but comparing quotes online and calling companies directly before choosing the right insurer can help you save a lot of money.

Pension schemes

It has been estimated that up to 70% of all pension providers are overcharging their customers, meaning you might be losing out. Your pension can be a bit of a minefield, especially with the launch of the government’s new pension scheme, and knowing what you’ll receive when you retire isn’t always completely transparent. Reviewing what you’re paying in and what you’re likely to get out of your pension will shed some light on whether you’re getting a competitive deal. However, if you’re not confident regarding the ins and outs of pension schemes, it’s worth speaking to a professional.

Utility bills

It’s no secret that utility companies are cashing in at our expense and it’s been a topic for debate within the media recently. Understanding your bills seems like an impossible task in itself, and knowing if you’re paying too much is often difficult to tell. It seems likely that it’s going to be at least a couple of years before we, as consumers, have the whole process simplified, as individual companies are merely taking baby steps towards improving their services.