Discover The Fortune Hiding In Your Insurance Premiums!
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.
Basic Coverage Of Homeowner Insurance Policies
The insurance policy is a package that includes more than 1 type of insurance in a policy. There are 4 types of coverage contained in the home insurance policy.Included are:Dwelling and Personal PropertyPersonal LiabilityMedical PaymentsAdditional Living ExpensesIn this article, Dwelling and Personal Property Damage will be explained:Property damage coverage will help pay for any damage to your dwelling or personal property. Other parts of your home, such as a detached garage, a shed, or any other building on your property are usually covered for about 10% of the amount of coverage on your home.Personal property coverage pays for your personal property, which includes your furniture, clothing, and other personal property.The amount of that insurance coverage is about 50% of the policy...(related: Insurance)
Canadian Funeral Insurance: Our Final Gift To Those We Love
Most of us don't like thinking about our own funerals, but no matter how much we ignore the inevitable, the truth is that when the time comes someone will be responsible for those expenses. The question is will it be our grieving loved ones who f...(related: Insurance)
Finding Life Insurance Quotes For Adult Children
Shopping for life insurance quotes for adult children isn't any different than it is for adults or seniors. Underwriting issues can vary a little but essentially life insurance quotes for adult children follows the same routine.Where we do see a difference is in qualifying. Some companies don't allow you to buy more than (2) times what the adult parent has, other companies may use other multiples. Underwriting also considers the premium paying capabilities of the person being insured and etc.A certain amount of caution exists when companies receive applications for children. A simple explanation on the back of the application will normally set everyone at ease. Being a advocate of carrying insurance myself I bought a liufe policy on my 12 year old son simple to get him started at an early age and lock in his rates forever. It als...(related: Insurance)
Why Bother With Farmers Auto Insurance?
Farmers auto insurance is a very large insurance company that offers all types of coverage including car insurance. The insurance policies cover many things concerning insurance on vehicles. There are many different types of auto insurance coverage such as collision, comprehensive, deductible and a wide variety that goes on and on. Farmers auto insurance company covers it all concerning vehicles.When you have collision coverage it basically covers damage to your vehicle that is caused by hitting another vehicle or an object. This means that you wil...(related: Insurance)
Life Insurance Benefits
Life Insurance is a legal contract between you and a life insurance company with the purpose of providing an income to spouse, children or other beneficiaries in the event of your de...(related: Insurance)
How Do I Lower My Auto Insurance Premiums?
It seems as though the price of everything is on the rise. The amount a house may have cost in...(related: Insurance)
How To Get Cheap Whole Life Insurance Quotes
Whole life insurance quotes the most expensive kind of policies that are on the market due the fact of cash value over time. Whole life insurance is permanent life insurance coverage that lasts as long as you live and continue to make ontime premium payments. The reason that whole life insurance quotes are so much more expensive is due to the fact that the policy will have to pay out a death benefit when you die.Whole life insurance quotes are available online from many insurance companies that have ...(related: Insurance)
Insurance For Car Wash Fundraisers
Non-profit groups in this day and age need to watch out for lawsuits, as it is an unfortunate reality. Having a good event insurance policy can protect your non-profits funds from such a lawsuit in the event of a mishap or professional slip and fall con artist. Yes they are out there and they will target your group if they think that they can make some money in a lawsuit. It is sad state of affairs even thinking of this, but you need to protect yourself and your group.INSURANCE REQUIREMENTSUsually a gas station has an umbrella insurance policy to cov...(related: Insurance)
Avoiding The Potholes Of Car Insurance
Car Insurance is an issue that we all of face in our lives. Do we insure our car or not?For example, what type of policy should you get? What should you look out for when signing on the dotted line? Car insurance can be a minefield if you do not investigate and take time out to rese...(related: Insurance)
Inexpensive Life Insurance To Protect What You?ve Earned
Adequate life insurance to cover your income producing ability is a product that is really needed today to give peace of mind. Life insurance was originally conceived to protect a man's family when his death left them without income. Over time is has developed into a variety of policy plans. In a "whole life" policy, fixed premiums are paid throughout the insured's lifetime; this accumulated amount, augmented by compound interest, is paid to a beneficiary in a lump sum upon the insured's death; the benefit is paid even if the insured had terminated the policy. Under "universal life," the insured can vary the amount and timing of the premiums; the funds compound to create the death benefit.With "variable life," the fixed premiums are invested in a portfolio (with earning reinvested), and the death bene...(related: Insurance)
Insurance Claim: Collecting Your Lost Wages
A couple months ago you were toolin' on down the avenue, minding your own business, when out of nowhere, this fumbling, stumbling man by the name of Freddie Fuddle flew through a Stop Sign and plowed into you with a gigantic, rip-roaring, screeching broadside. You were wearing your seat belt but it was still a thundering crash that wrenched and whipped you around the inside of your motor vehicle something fierce!Now, after a long recovery period, Fuddle's carrier, Granite Mountain Ins...(related: Insurance)
The Ups And Downs Of Temporary Health Insurance
If you're a recent college graduate, or in between jobs, temporary health insurance may be just what you are looking for. As the name suggests, this short term health plan covers from one month up to a full year. And with a very inexpensive price tag, most consumers are thrilled to have finally found a viable health care option. While there are benefits with temporary health insurance, there are a few negative aspects as well.
Global Warming: Why Consumers And Insurers Are Getting Hot Under The Collar Over Life Insurance.
Global warming may have been lurking on our horizon for a number of years and historical records of terrorists have existed for thousands of years, but we are coming into a new age where we try and financially protect ourselves against such problems and if we're honest ? we're struggling.The recent terrorism attacks in London brought home the fragility of human life to many Brits, who had previously been able to distance themselves from terrorist activity. For the partners and offspring of city workers, the fragility of their finances also became apparent with the potential loss of a loved one alongside the loss of future income and possibly the family home.It is widely agreed that most life insurance policies should cover acts of terrorism, though most websites (including the Association of British Insurers) ...(related: Insurance)