How to Get the Best Deal on Insurance, Pensions and Utility Bills
Published 22nd of August 2013·Updated 6 April 2026
Reviewed by: Reviewed for accuracy April 2026
Most people overpay on car insurance, pension charges and utility bills simply by not reviewing them. Switching car insurer at renewal can save hundreds of pounds per year. Checking your pension's annual charge can be worth even more over the long term. And moving to the cheapest energy tariff available saves the average household around £300 per year, according to Ofgem data.
Short Summary
Auto-renewing your car insurance is almost always more expensive than switching. Comparison sites such as Compare the Market, MoneySuperMarket and GoCompare let you check dozens of quotes in minutes.
Pension charges vary widely. A 1 per cent annual management charge sounds small but can reduce your final pension pot by 20 per cent or more over 30 years, according to the Financial Conduct Authority (FCA).
Energy bills are linked to Ofgem's price cap, which changes quarterly. Once fixed tariffs become available again at competitive prices, switching can lock in savings for 12 months or more.
For all three: compare at renewal, do not auto-renew, and review at least once a year.
How to get the best deal on car insurance
Car insurance premiums in the UK have risen sharply in recent years. The Association of British Insurers (ABI) reported that the average comprehensive premium reached £635 in 2024. Despite this, most drivers renew with their existing insurer without checking alternatives.
Shopping around at renewal is the single most effective step. Use at least two comparison sites (they do not all list the same insurers) and also check directly with companies that do not appear on comparison platforms, such as Direct Line and Aviva. Then call your existing insurer with the best competing quote and ask them to beat it; many will.
Other steps that can reduce your premium:
- Add an experienced named driver to your policy if you are a young or newer driver
- Increase your voluntary excess (only do this if you could afford to pay it in the event of a claim)
- Pay annually rather than monthly; monthly payment typically adds 20 to 30 per cent in interest charges
- Check whether a telematics (black box) policy is cheaper if you drive fewer than 7,000 miles per year
How to check whether your pension is charging too much
Pension charges matter enormously over time. A pension with a 1.5 per cent annual management charge (AMC) versus one charging 0.5 per cent may not sound significant, but over 30 years the higher-charge pension could leave you with 20 to 25 per cent less money at retirement, according to FCA modelling.
Start by finding your annual management charge on your pension's annual statement or by logging into your provider's online portal. If your pension is with Nest, the charge is 0.3 per cent per year. Provider charges from companies such as Royal London, Aviva, Standard Life and Legal and General typically range from 0.4 to 0.8 per cent for workplace pensions. Legacy personal pensions from the 1990s and early 2000s can charge 1.5 per cent or more.
| Pension AMC | Value of £100,000 after 30 years (assuming 5% growth) |
|---|---|
| 0.3% | £386,000 |
| 0.75% | £324,000 |
| 1.5% | £254,000 |
If your charges are significantly higher than the market norm, consider consolidating into a lower-cost provider. The Pension Tracing Service (gov.uk) can help you locate old pension pots. Take regulated financial advice before consolidating a defined benefit (final salary) pension, as transferring can mean losing guaranteed benefits.
How to reduce your energy bills
Energy bills in the UK are currently regulated by Ofgem's price cap, which is set quarterly. As of early 2026, the cap for a typical household using 2,900 kWh of electricity and 11,500 kWh of gas per year stands at approximately £1,738 per year. Always verify the current cap at ofgem.gov.uk.
When fixed-rate deals are available below the cap level, switching can provide certainty and savings. Use Uswitch or Compare the Market's energy comparison tool to check whether any fixed tariff is cheaper than your current variable rate.
Additional ways to cut energy costs:
- Apply for the Warm Home Discount if you receive certain means-tested benefits; the scheme provides a £150 rebate on electricity bills
- Check whether you qualify for free insulation under the Great British Insulation Scheme (gov.uk)
- Switch to a smart meter to track your usage in real time and avoid estimated billing
- Contact your supplier if you are struggling to pay; energy companies are required by Ofgem to offer repayment plans and cannot disconnect vulnerable customers in winter
How to review all three in one session
Once a year, typically two to three weeks before your car insurance renewal date, set aside two hours to review all three areas. Car insurance and energy are the quickest to compare using online tools. For your pension, log into your provider's online portal and note your fund value, annual charge and projected retirement income.
If the projected income falls short of what you need, increase your contributions before looking at anything else. Employer matching means every pound you put in may generate a return before a single investment decision is made.
FAQ
How often should I compare my car insurance?
Every year, at renewal. Never auto-renew without checking the market first. Loyalty penalties were banned by the FCA in 2022 for home and car insurance, meaning insurers cannot charge existing customers more than equivalent new customers. Despite this, renewal quotes are still often higher than switching quotes.
What is a good annual management charge for a pension?
For a modern workplace pension or SIPP, 0.3 to 0.75 per cent per year is a reasonable range. Anything above 1 per cent deserves scrutiny. Use MoneyHelper's pension charge comparison tool to benchmark what you are paying.
Can I switch energy supplier if I am in debt to my current one?
If you owe less than £500 to your current supplier, you can usually still switch. If you owe more, the supplier can block the switch until the debt is cleared or a repayment plan is in place. Contact your supplier and Ofgem's consumer helpline (0808 223 1133) if you are having difficulty.
Is it worth using a financial adviser to review my pension?
If your pension pot is worth more than £50,000 or you have multiple pots from different employers, professional advice is likely to pay for itself. A regulated financial adviser can compare providers, model your projected income, and advise on tax-efficient withdrawal strategies. Check that your adviser is FCA-authorised at register.fca.org.uk.
How do I find out if I have old pension pots I have forgotten about?
Use the government's free Pension Tracing Service at gov.uk/find-pension-contact-details. You can also contact the Pensions Advisory Service (part of MoneyHelper) on 0800 011 3797 for free guidance on tracing and consolidating pensions.