If you want to make sure you’re getting value from your insurance, why not take a closer look? Here are some suggestions for managing the cost of your cover.

Increase your excess

Increasing your excess is a way to bring the cost of your policy down. Just be aware that, when claim time comes, you will have to cover the total amount of the excess.

Review your payment method

If you’re currently paying your insurance monthly, moving to an annual payment could save you money. It might also be possible to save money by changing the way that you pay. Some insurers, for example, offer convenient direct-debit discounts.

Group discounts

Do you have multiple insurance policies? You may benefit from bringing them all to one provider. But before moving to a different insurance provider, make sure you review your options carefully. It’s important to understand how any changes could affect your ability to file a claim. Once again, this is something we can help you with.

Loyalty discounts

Have you been with the same insurance provider for a number of years? It’s worth finding out if you’re being rewarded for your loyalty. Please note that in some cases this will be automatic, but in others a little prompting might help you to make a saving. Feel free to enquire and get in touch with us.

Policy-specific discounts

For every type of insurance, there are behaviours that Insurance Providers like to reward with discounts. Good examples of this are the saving you can enjoy on your Contents Insurance if you install a burglar alarm, or the Healthy Lifestyle Reward that some providers offer on health insurance premiums.

Age-related discounts

As you may know, the cost of insurance depends on a variety of factors, including the amount of risk involved, and the likelihood of an undesirable event occurring. That’s why some policies can get more expensive as you get older. Others, however, can reduce in cost, and this is often the case with car insurance.

Did the six points above prompt you to think about how you can make the most of your insurance? Give your policy a periodic check-up – with our help. Which leads us to the next point…

The right cover for your needs

Is your insurance up-to-date? Start by reviewing your cover against your current needs.

Being over or under-insured may undermine the value you get from your policy.
Too much cover means you’re paying more than is necessary. But if you’ve got too little insurance, you might find you’re not covered when you make a claim. Either way, it may be time to update your policy.

Don’t forget we can help you assess your circumstances, and ensure your cover continues to deliver to your expectations. Then you can enjoy the confidence that comes with knowing that you’re only paying for exactly the cover you need.

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