Ever thought about how to save money? Sure you have, what did you do? You downsized a few things, maybe cut back on the monthly budget, had a boot or garage sale to free up some money but there is a place which most people don't look. Insurance premiums!
There are normally 3 types of insurance:
Legally obligated - Such as Car Insurance
Contractually obligated - Such as Life Insurance if you have a Mortgage
Non Obligated / Perceived Need - Home Contents Insurance
Clearly you can't remove all of them as you can see you are legally required to have some insurance. But there are ways to make sure your insurance premiums are as efficient as possible. Here are our top 9 tips to finding that hidden fortune....
1 Try buying your insurances together. Some insurers will give you a discount if you buy both your car and home insurance together. If not told. Ask!
2 Buy or quote online. Buying Online will give you access to some discounts not available anywhere else as their administration costs are reduced. This could be up to 15%
3 Never just accept your renewal quotes from your existing provider. They are not as hungry to offer you the best deal each year as you are now a customer! Use the renewal quote as a benchmark to get further quotes. If need be once done, go back to your existing insurer with the other quotes and ask them to better them. You could be pleasantly surprised
4 Replace Poor Value or expensive cover. Did you take out Loan Protection Insurance with a Loan? It is normally 5 - 10 times more expensive than if you bought it separately.
5 Look at minimum levels of cover, where appropriate. If you have an old car for example, it may be worth looking at Third Party Insurance Only
6 Pay your insurance premiums annually. Monthly direct debit may be easier on your wallet, but you could be missing out on a 10% saving by paying up front. Just make sure you are paying for it and not putting it on your Credit card!
7 Don't buy extra cover you can live without. A courtesy car ion a car insurance plan is not free. You will pay normally £10 - £50
8 Put a higher excess on your insurance. If you don't claim the first £300 on your home insurance, you will reduce your premiums, but still be covered for major events such as flooding, fire of theft
9 Get rid of any duplicate cover by reading the small print on your policy documents. Travel insurance can cover valuables when abroad, but so can your home contents insurance so it is not worth the extra cost.
All in all, you can see there are several ways to reduce your premiums which don't involve moving companies. Read your insurance documents and take action when your renewals are due.
Spending a few hours online getting quotes and researching your requirements could save you hundreds of pounds for the same amount of cover you currently have. Don't be scared to question the quote or the cover being offered.
Jason Hulott is Business Development Director of Protection Insurance. Protection Insurance is an internet based insurance business dedicated to getting consumers the very best insurance rates and the best products. Our product portfolio includes many specialist products as well as life and critical illness insurance; UK Car Insurance, UK Home Insurance, and Self Build Insurance; Mortgage Payment Protection Insurance and Income Protection Insurance.
Term insurance and permanent insurance are two basic types of... Read More
In the United States health insurance, unlike many other countries,... Read More
No doubt most readers will have heard of the Northern... Read More
Unlike term life insurance, permanent insurance policies such as universal... Read More
Following a few simple tips and taking these measures will... Read More
If you're looking to save money on your auto insurance... Read More
One of the most important things you will ever do... Read More
Many personal car insurance companies consider your credit information when... Read More
Insurance is always a gamble, a bet actually.You are betting... Read More
There's nothing that has a greater impact on evaluating a... Read More
How many times have you seen people whose life was... Read More
Rental car agencies have a menu of insurance policies they... Read More
The Medical Savings Account (MSA) is an older form of... Read More
Life insurance is a type of protection that can be... Read More
There are DOZENS of insurance claim possibilities which will increase... Read More
Life Insurance Companies differ in their "underwriting philosophy" when it... Read More
Whether you're looking for insurance quotes for auto, life, travel... Read More
You can withdraw money from your Health Savings Account (HSA)... Read More
Protecting your family is the single most important thing any... Read More
There are times when you'll find yourself temporarily without health... Read More
There are different types of life insurance policies available. Shop... Read More
Health insurance is a kind of protection that provides payment... Read More
Traditionally, life insurance companies solicited men as the main breadwinners... Read More
You were on the phone, got distracted and before you... Read More
So, you've decided to purchase life insurance. Well then, you... Read More
Everything seemed pretty simple when you purchased that insurance policy.... Read More
You will find that your lender will insist that you... Read More
Only 61% of adult Americans have life insurance (down from... Read More
Love. Yes, that's right. Love for your spouse, children, family,... Read More
Home Insurance is designed to provide you with financial protection... Read More
A Health Savings Account (HSA) does not really cover alternative... Read More
OK, you take that stroll down to the mailbox excitedly... Read More
The communities of Exmouth and Moora in Western Australia don't... Read More
Term life insurance quotes are rarely a concern of single... Read More
Finding auto insurance quotes online is easy, but finding the... Read More
Almost anything can be insured these days: breasts, legs, your... Read More
My whinstone house my castle is, I have my own... Read More
Car insurance is one of the most dreaded chunks in... Read More
If you're self employed, you may think of health insurance... Read More
A new financial tool is now available for senior citizens.... Read More
Auto Insurance rates are a complicated business. Have you ever... Read More
Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance... Read More
Insurance is an important part of our lives. If you... Read More
It seems as though the price of everything is on... Read More
You were humming along on a bright and sunny day... Read More
One of the most important benefits employed people enjoy is... Read More
Most people want lower insurance costs but are often too... Read More
Health insurance is a kind of protection that provides payment... Read More
As many of us expect, the New Year will bring... Read More
Shopping for life insurance quotes for adult children isn't any... Read More
You've finally saved enough to go on that dream vacation... Read More
Many factors affect the premium you will pay for auto... Read More
Insurance adjusters are not without outside pressures they must deal... Read More
How do you put a value good health? For many... Read More
To get the cheapest possible quote for your car insurance,... Read More
Everything is big in Texas and so it is with... Read More
The life insurance quote business online is booming. Not only... Read More
Car Insurance is compulsory in the UK. You are required... Read More
Life insurance can be a very scary thing. If you... Read More
Do you like to spend all day being sitting around?... Read More
Boat insurance is necessary for all boat owners who live... Read More
First of all, congratulations on deciding to go out and... Read More
Here is a useful guide to car insurance. Buying car... Read More
Personalisation, Digitalisation, Mobilisation, these 3 words represent your life today.... Read More
Here are some useful tips on how to reduce car... Read More
Catering truck insuranceNot many agents/brokers write catering truck insurance as... Read More
Insurance |