Motorists are facing significantly higher car insurance premiums this year but a new cashback deal may help those who need to renew in the coming months. The new deal comes as car insurance premiums reach their highest level since 2020, rising by an average of £68 year-on-year.
A report from Compare the Market shows car insurance premiums averaged around £688 in the first three months of 2022, compared to £620 a year ago. The rise means the cost of car insurance is now at the highest level seen since the last quarter of 2020, when premiums averaged £724.
But there is help out there. By shopping around on comparison sites like Money Supermarket, Compare the Market and Confused.com you can get a better deal for your area, and even better there’s currently a cashback offer to be had too, which in the long-run will help lower your monthly or yearly bills, depending on how you pay.
TopCashback is a deals site that allows customers to purchase offers through retailers on their site and then by doing so, in turn they receive money back for the offers they buy. Currently they have a deal with Confused.com whereby new customers can get up to £33 cashback on car insurance policies.
There’s a £30 cashback deal for those looking to insure van vehicles too, and £21 cashback for motorbikes. Cashback will not be paid however if customers claim a Confused.com reward or any other offer or voucher.
If you, or your insurer, cancel your policy before cashback is deposited in your TopCashback account, then you will not be eligible to receive cashback. Find out more about the deal here.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.