March is the busiest time for car insurance companies but many people are choosing to pay less for it while still ensuring they are legally covered, according to Saga Motor Insurance .

 

Car insurance is the most expensive type of insurance for most people, with an average of £31 being spent every month and 27 per cent of motorists have decided to reduce this cost.

 

Some people have chosen to increase their voluntary excess to reduce the cost of car insurance, while others have physically downgraded their car.

 

Despite those over 50 having an average car insurance bill of £21, the same proportion of motorists in this group are cutting their costs.

 

Andrew Goodsell, chief executive of Saga, said that many more people could be reaping the benefits of car insurance savings, saying: Remembering to update your car insurance policy as your needs change can help save money on monthly premiums at a time when many people are looking to reign in their spending.

 

Price comparison website GoCompare.com said yesterday that making sure motorists have the right car insurance could save them more than investing in a cash Isa .