Maintaining your insurance cover is essential even when you need to cut back on your budget. Without it, a serious illness, car accident, fire or break in to your home could be financially devastating pushing you into bankruptcy. Shop around for the best deal on insurance. There are so many insurance companies out there you are bound to find a few that are cost effective and suit your needs. The best way to do this is through your independent broker; you will receive a host of quotes and choose the best one. Also make sure you are getting all the discount and benefits offered by you insurance company, do a little research, most of them state their benefits etc on their website. For example if you purchase your home and car insurance from the same company you could receive a discount.
- When you insure your home, don't count the value of the land your home sits on. Insure the structure only.
- Find out what will save you money, example by having a security system, trellis doors or smoke detector.
- If the smoker in your family has moved out or has kicked the habit, inform your insurance company. Smoking is one of the lead causes for house fires, so you should receive a cut in costs.
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- If your car is old and not worth very much, drop your coverage so that you're not paying any extra than you need.
- Be sure that you are once again getting all the discounts and benefits entitled to you. Example driving in a car with airbags and an anti-hijacking system will save you money, as well as if you park in a locked garage rather than the street at night.
- If you have to buy a new car, just remember that high performance/high profile cars cost more to insure. Buy something sensible, something your granny would buy