Tips to save on your insurance premium

It’s one of the bills we all hate having to pay but is necessary to have so we can drive our car and know that if we have an accident we can get it repaired. Or if our business burns to the ground we can get ourselves back up and running again without too much of a financial loss. But have you ever wondered on how you can reduce your insurance costs?

Here are some great tips that you may find useful in order save some $$

• Excess – The higher your excess, the lower your premium. Most insurance policies are subject to an excess which is payable in the event of a claim. If you think that if you were to have a claim but could afford a bit extra on your excess, why not up it to reduce your premium costs?

• Paying your insurance – If cash flow allows it, pay outright. This will allow you to avoid additional charges if you are paying with instalments.

• Identify Risks – If you identify areas within your home or business that need improving such as an upgrade to security or having a risk management plan for your business operation, this gets considered when putting together your insurance package and allows you to receive discounts on your policy.

• Speak to an insurance broker – Our job is to make sure you are getting the best price and coverage for your risks. We are able to negotiate, tailor and access an array of insurers who can provide you with the best price and coverage for what you need.