Saving on Car and Household Insurance

Some tips to help you save more

Comprehensive Car Insurance

This type of insurance ensures that you are financially covered in every possible scenario where something might happen to your vehicle.

Saving on Your Car and Household Insurance Premiums When You Are Over 50

Getting older is not always easy, although there are a few aspects in life where it gets easier. Insurance is one of these aspects. Here we will give some advice on how you can save on car insurance if you are over the age of 50.

You can reduce the premiums of your car and household insurance while still having a good policy. Here are some tips you can follow the get the best premiums:

Ask your broker for a better price. It may seem a bit old-fashioned, but a broker can always offer a better rate

If you have a history of low or no claims, you will be seen as a lower risk to the insurer, which will reduce your premiums.

Search for companies that specialize in over 50 insurance policies. Most of the times they offer lower rates.

If you drive less, your car insurance policy will also cost less. If you can limit your mileage, do it, as it will save you a lot.

You may want to consider having a joint policy with your spouse, as this may also cost a lot less.

A higher voluntary excess will cost you less on your premiums. Just be sure you have the amount for the surplus available should you make a claim.

If you choose to pay on a yearly basis, you will save on interest fees, and may also get an additional discount.

When you opt for household insurance, ensure that you are not under or over insured. Go through all of your items and determine what all of it is worth.

If you live in an area with a high risk of natural disasters, be sure that your insurance company knows about this. Failing to do this may deem your policy invalid.

Try to buy a car and household insurance from the same company, as they will give you a discount for bundled insurance. It may sound strange, but some people get car and household insurance from the same company and pay less for both policies together than they would have paid for car insurance alone. This may be something to consider, especially if you drive a vehicle that usually costs a lot to insure.

We hope you have learned a few tips from this article. If you are interested in more tips like these, here is a great resource.

What is insurance excess?

This is the amount you choose to pay when you submit a claim. If you decide to have a higher excess, your monthly premiums will be lower, but you will have to pay the full excess amount when you get into an accident. A smaller surplus, on the other hand, will increase your monthly premiums, but you will not have to acquire that much additional cash when you file a claim.

What is Third Party Cover?

This is a policy that helps you financially, should you cause accidental damage to another person or their property. This includes their car, house, fences, etc. Usually, this also covers medical expenses that you were the cause of.