With household expenses still high and tough economic conditions making job security uncertain, monthly insurance payments can appear to be an expensive luxury. But think again!
Insurance is an intangible product. This means the benefits of an insurance policy aren’t realised until we make a claim and have it accepted. During tough economic times, families often cancel their insurance polices in order to save money. The repercussions of this can be very serious and may leave families in financial strife. In this article we discus several ways a policy holder can reduce their monthly insurance costs.
Ask you current provider whether there is anything you can do to reduce risk. This applies to any type of insurance policy including house, car or health. Insurance premiums are based on risk. If you can reduce the probability of a fire, burglary or an
accident, insurance companies will often reduce your monthly insurance premiums.
Pay a higher excess as most insurance providers will reduce the monthly premium charges. You must have money readily available should an accident occur. An excess is the amount you pay toward the replacement or repair cost.
Ring around different suppliers and obtain at least three quotes. This can be time consuming however, there are great insurance websites available that can help you obtain multiple quotes quickly and easily.
Ensure you declare everything on the application. An insurance policy is a contract and therefore can only be broken if it is proven that you lied on your application form. It’s not worth the risk as it is often very difficult of obtain any form of insurance cover once you are convicted of insurance fraud.
Pay you insurance premiums annually. This will reduce the administration costs for the insurance company which, in return, will generally reward you with lower insurance premiums.
Ask prospective insurance companies whether any additional discounts are available. Often senior citizen discounts are available. You could also investigate to see whether your employer is able to receive discounts.
The information provided above could save you hundreds maybe thousands of dollars every year in insurance premiums. Talk to you insurance provider now and start to save money!
Isreal Hartley is the director of www.my-insurance-guide.co.nz an insurance website filled with useful insurance information and tools to help New Zealanders buy insurance . Visitors can obtain information of insurance premiums, read tips on saving on insurance and how to negotiate cheap insurance. Find the best insurance company now!
Insurance is an intangible product. This means the benefits of an insurance policy aren’t realised until we make a claim and have it accepted. During tough economic times, families often cancel their insurance polices in order to save money. The repercussions of this can be very serious and may leave families in financial strife. In this article we discus several ways a policy holder can reduce their monthly insurance costs.
Ask you current provider whether there is anything you can do to reduce risk. This applies to any type of insurance policy including house, car or health. Insurance premiums are based on risk. If you can reduce the probability of a fire, burglary or an
accident, insurance companies will often reduce your monthly insurance premiums.
Pay a higher excess as most insurance providers will reduce the monthly premium charges. You must have money readily available should an accident occur. An excess is the amount you pay toward the replacement or repair cost.
Ring around different suppliers and obtain at least three quotes. This can be time consuming however, there are great insurance websites available that can help you obtain multiple quotes quickly and easily.
Ensure you declare everything on the application. An insurance policy is a contract and therefore can only be broken if it is proven that you lied on your application form. It’s not worth the risk as it is often very difficult of obtain any form of insurance cover once you are convicted of insurance fraud.
Pay you insurance premiums annually. This will reduce the administration costs for the insurance company which, in return, will generally reward you with lower insurance premiums.
Ask prospective insurance companies whether any additional discounts are available. Often senior citizen discounts are available. You could also investigate to see whether your employer is able to receive discounts.
The information provided above could save you hundreds maybe thousands of dollars every year in insurance premiums. Talk to you insurance provider now and start to save money!
Isreal Hartley is the director of www.my-insurance-guide.co.nz an insurance website filled with useful insurance information and tools to help New Zealanders buy insurance . Visitors can obtain information of insurance premiums, read tips on saving on insurance and how to negotiate cheap insurance. Find the best insurance company now!
