10 INSURANCE MONEY SAVING TIPS AND IDEAS |
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The sector is dominated by the big names such as the AA and RAC. But being towed home if your car breaks
down is just another form of insurance and there are lots of cheaper money saving alternatives.
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If you use annual holiday insurance when the renewal notice
comes don't renew it until your next holiday is due to be booked. If you are not planning on booking a holiday for a few
months why pay for insurance you will not be using.
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A lot of people still buy their holiday insurance from their holiday company. If you shop around
online you will often find cheap holiday insurance.
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Insuring a mobile phone can cost as much as £6 per month. Have you checked your household contents
insurance? as many cover them. You could potentially save £72 each year with this money saving tip.
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Your mortgage provider will often try to push their offerings on you but shop around to make sure their
insure offerings are cost effective. This one reduced my bill and gave me savings of almost 45% in the past.
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Consider increasing the excess you pay on you home contents insurance as the higher
the excess the less you should pay for your household insurance.
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SHOP AROUND as the price differences between different providers of home insurance can be quite startling. |
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Being loyal to your current insurer may be quicker and easier at renewal time, but shopping around could
save you as much as £200 on your car insurance. Always look to get at least 3 quotes and if time is an issue use one
of the online comparison sites. Also remember that some companies like Directline don't allow their offerings on comparison
sites. An example of the savings was a policy that was with the RAC at renewal time they quoted £235. Bit
of research and the quote was £190.35 for identical insurance. RAC would not match it so bye bye RAC and hello Marks and Spencer car insurance and £44.64 saved.
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Sometimes you can get car insurance
premiums reduced by adding a second named driver with a good insurance record.
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When filling the car insurance quote in play around with the excess figures to see which seems to offer
the best risk/reward ratio.
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The FSA recently did a review of insurance comparison websites. For copyright reasons i can't post
their findings but if you want to know about the good and not so good side the details are on their website.
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