Lower the cost of insurance

Insurance cover is essential, and maintaining it even when you need to cut back it of the utmost importance. Without this cover, you open yourself up to situations that could take away your earning ability and financial stability, completely. Whether it is a serious illness, car accident, fire or break in, insurance helps prevent a possibly life altering situation, or at least protect your finances if the worst case happens.

The best way to start would be to shop around for the best possible deals, insurance deals range in price and cover, with many having extras at higher prices which you may not use. If you want a simple plan or need basic coverage, you could find a much cheaper rates than someone wanting full coverage or added extras. Discount are often included when insuring multiple assets with the same company as well.

Home insurance

• Insuring the structure of your home rather than the property in general is a good way to cut down on costs
• Often if you have a security system, trellis doors or smoke alarms you can cut down on premiums and package costs
• Having a household of non-smokers can also reduce the risk of house fires which takes a chunk out of your insurance payments. If a smoker has kicked the habit, informing your insurance company can also have a positive effect on your costs

Car insurance

• If you have an older car that has a low value, drop your coverage as many aspects of the costs won’t be worth your while
• Make sure that any extras or discounts you qualify for are in effect- driving a car with airbags, parking in a secure garage or having an anti-hijacking systems can increase safety and therefore decrease costs.
• Buying an expensive, high performance car means your premiums will cost a lot more, buy something sensible that you can afford to cover.