Tips on Trimming Your Insurance Premiums

Insurance is an essential element for all-round financial fitness, but nobody wants to spend more than is necessary on it. Luckily you can trim premiums quickly and easily by shopping around for better deals online - without any compromise on cover!

Get into the home zone

Don't readily accept your provider's renewal quote for your home insurance when there could be better deals available. If you don't already have a combined buildings and contents policy, shop around using an online comparison site for one, as many insurance providers offer a deep discount if you take both.

With buildings insurance, you only need to be insured for the rebuild cost of your property and not its market value. This amount is usually on your valuation or mortgage documents, but if you need an update the Association of British Insurers (ABI) has an online rebuild cost calculator.

And remember to never underinsure your contents as many insurance providers will not pay out a full claim if you are not properly covered for your total contents.

Motor ahead

Car cover is one of the easiest of all insurances to switch, and you can do it quick and easily online, including getting exclusive quotes that are not available elsewhere. You could save a significant sum in a matter of minutes and get a policy that meets your exact requirements.

One top tip is to look at fully comprehensive car cover as it is no longer always more expensive than third party. Fitting a car alarm or parking in your garage is another tip that could also help reduce premiums.

Cheaper life cover

If you have financial dependants don't be tempted to cut your life insurance just because money is tight. If you cancel a policy now, and then take a new one five years down the line for example, you may not get the same terms - premiums will be based on you being older and could be more expensive.

But it's easy enough to save money on life cover by quickly searching for a new deal that matches your current circumstances. And remember that losing a few pounds in weight or stopping smoking can make a big difference to your premiums - a double bonus of getting fit and saving money.

Assess all areas

Don't forget to take a look at all your other insurance policies. Travel insurance, for instance, can be significantly cheaper if bought online instead of through a high-street travel agents. And if you have an annual travel insurance policy remember not to renew it automatically - wait until just before you next go abroad or you will end up paying for cover during months when you are staying at home.

Think carefully before cutting any cover completely. If the reason you initially took out the insurance still exists, try to find a way to keep it in place. Either adapt the amount you are covered for (as long as you're aware of the potential consequences of doing this), or better yet, search online to find the same level of cover for less. But with the cheapest premiums, always have a good read through the policy details to ensure the cover is suitable for you.

For more information on insurance premiums please visit http://www.confused.com/home-insurance