Newspaper article Manchester Evening News

Don't Pay a Premium Price for Your Insurance

Newspaper article Manchester Evening News

Don't Pay a Premium Price for Your Insurance

Article excerpt

CAR insurance is set to crash through the £900 barrier this year after premiums have rocketed by almost a quarter in two years. The average yearly premium is now £827, a rise of 23% from January 2016, Confused.com's car insurance price index shows.

And it is not just car insurance that could be squeezing your budget unnecessarily. Studies show millions of us overspend on all our policies. Here we reveal some clever but easy steps you need to put the brakes on those rising travel, car and home insurance costs without compromising your cover.

TRAVEL POLICIES from the holiday firm you booked with can be the most expensive and those at the airport are pricey too. Buying online can save a fortune. One week's cover for a family of four to Tenerife at February half-term with Moneysupermarket costs £25.27 compared to £76.74 for a comparable Post Office policy.

Family cover, usually for two adults and two under-18s, can be the most cost effective for one or two trips. For three or more trips a year go for an annual family policy - but double check for any restrictions on age, all living at the same address and single-parent families.

Individuals planning several holidays a year should consider an annual policy. Be honest about pre-existing medical conditions - even those such as asthma and high blood pressure controlled by regular medication. A small omission could cost thousands if an insurer will not pay up. If you have pre-existing medical conditions, or are over 65, get a specialist firm to help you compare quotes. Payingtoomuch.com specialises in cover for older travellers.

HOME MAKE sure you get the right level of cover and avoid paying for insurance you do not need. Many firms offer blanket cover at, say, £40,000 but if you don't need that much, don't waste your cash. Calculate accurate sums on belongings and the cost of rebuilding.

Good security such as window locks, alarms and decent door locks will cut the risk of theft and some insurers will offer discounts. …

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