While the New Year is an exciting time for everybody, it also puts pressure on people to find ways to save money. Many of the cuts announced in the Budget have taken effect from the 1st January, leaving families with less money to get by on. In addition, the recent implementation of the EU’s gender directive will also impact on insurance premiums, especially for women.
The good news is that savings on insurance can still be made. There are some nice little ways to reduce premiums that do not involve reducing the quality of cover – and are simple to do!
1. Review your Life Insurance / Mortgage Protection
Very few people are aware that shopping around for a better deal on their Life Insurance or Mortgage Protection could save thousands of Euros over the entire term of cover, especially for those who haven’t reviewed for several years. In many cases, policyholders can reduce their premiums simply by switching companies and keeping the exact same level of cover that was taken out with the previous insurer.
2. Drive down the cost of Car Insurance
There are a few easy ways to get the cost of Car Insurance down. The easiest way is to add a named driver to your policy. By putting your partner on your own policy, you can reduce the premium on the policy without changing any other aspect of cover. Drivers who clock up less than 5,000 miles a year can get a discount.
3. Make your house more secure
House Insurance companies also reward those who take precautions with making their home more secure against attempted break-ins. Significant discounts are available to those who install a security alarm system in their home. While there is an initial cost in investing in a security system, it will pay for itself in the long term thanks to the discounts that would be received every year.
4. Consolidate your insurances
As brokers, generous discounts can be arranged for those who consolidate all their insurance policies (Life, House, Car etc.) with a particular insurance company. Why not give us a call on 1850 746 759 to see how much you could trim off your insurance premiums.