Paying too much for your insurance? You’re not alone. Many people in the UK renew their policies without checking for better deals. Here are five easy ways to reduce your premiums while still getting the cover you need.
1. Shop Around Every Year
Loyalty doesn’t always pay when it comes to insurance. Use a broker or comparison tools to find the best price before your renewal date.
2. Increase Your Excess
A higher voluntary excess can lower your premium, but make sure you can afford to pay it if you need to make a claim.
3. Bundle Your Policies
If you have multiple policies – such as home and car insurance – consider getting them from the same provider for a discount.
4. Pay Annually Instead of Monthly
Paying in one lump sum often works out cheaper than monthly instalments, which may include interest or admin fees.
5. Maintain a Good Claims Record
Avoid small claims if you can afford to cover the cost yourself, as too many claims can raise your premiums.
