Mortgage protection insurance

Make your insurance premiums efficient. Follow the tips to find the hidden fortunes.
Some companies give discount on buying both your car and home insurance together. Ask them for it, if not told.

1 Some companies give discount if you buy both your car and home insurance together. If not told Ask!

2 Buying Online will give you access to some discounts not available anywhere else as their administration costs are reduced. This could be up to 15%

3 Never just accept your renewal quotes from your existing provider. They are not as hungry to offer you the best deal each year as you are now a customer! Use the renewal quote as a benchmark to get further quotes. If need be once done, go back to your existing insurer with the other quotes and ask them to better them. You could be pleasantly surprised

4 Replace Poor Value or expensive cover. Did you take out Loan Protection Insurance with a Loan? It is normally 5 - 10 times more expensive than if you bought it separately.

5 Look at minimum levels of cover, where appropriate. If you have an old car for example, it may be worth looking at Third Party Insurance Only

6 Pay your insurance premiums annually. Monthly direct debit may be easier on your wallet, but you could be missing out on a 10% saving by paying up front. Just make sure you are paying for it and not putting it on your Credit card!

7 Don't buy extra cover you can live without.

8 Put a higher excess on your insurance. If you don't claim the first £300 on your home insurance, you will reduce your premiums, but still be covered for major events such as flooding, fire of theft

9 Get rid of any duplicate cover by reading the small print on your policy documents. Travel insurance can cover valuables when abroad, but so can your home contents insurance so it is not worth the extra cost.

Read your insurance documents and find the ways to reduce your premiums which don't involve moving companies.