These 5 tips from AA Insurance will help you get through these financially touch times;

1. Shop around
Firstly, be sure about the cover you need – or don’t need – and then shop around for the best deal. By spending half an hour ringing around or on the internet, you could save a significant amount.

However, the best deal might not be the cheapest price – it’s no bargain if the company can’t offer the things which matter to you.

2. Check you’re getting what you pay for
Check you’ll receive all the benefits you qualify for such as a no claims bonus. Many insurance companies make special offers, so it pays to do some research.

For instance, what does your insurer offer young drivers? Some insurers give advance benefits to young drivers if their parents are already customers.

Also, some insurers will allow you to earn a no claims bonus even on third party insurance – it’s useful to build up a good claims history.

3. Increase your excess
This is your share of the cost when you make an insurance claim. If you agree to pay more, it will usually mean your insurer discounts your premium.

However, be confident that you could meet the excess amount you’ve committed if you do need to make a claim.

4. Stagger your payments
Many people find it easier to pay off the premium over the year instead of a single lump sum, and there may be various options such as weekly or monthly payments.

It will usually cost a little more but it’s a popular option if a single payment is difficult to budget for.

Get the annual premium cost as well so you can compare the difference.

It can also help to spread the renewal dates for different types of insurance over the year, such as having car insurance renewed in March, house insurance in June and contents insurance in October. No-one wants to face all their insurances being due in December.

5. Insure accurately
People struggling financially are least able to face the costs of an accident.

Think carefully about whether you need comprehensive insurance, or third party (covers the damage you do to someone else’s property), or third party fire and theft.

One feature of third party insurance which is often overlooked is uninsured driver protection. This means your car is covered when you are in an accident caused by an uninsured driver.

If you have comprehensive car insurance, make sure you’ve agreed on the value of your car with your insurer. If your policy says “market value” and your car is written off or stolen, you’ll receive what the car was worth that day, not what it will cost to replace. It can be a surprise.