4 ways to save money on insurance

Here’s another super helpful money saving tip for you.  I haven’t done many of these so far but there are lots more on their way.

Today, the topic is insurance. We all need it.  Whether it’s for our car, our home, or our health and belongings on holiday, insurance gives you the peace of mind that should the worst happen, you’re covered financially. The problem is it can be very expensive.

So, here are some ways to save money on insurance when you come to renew.

Check you’re not covered already

First of all, check that your bank doesn’t already provide you with car/home/travel insurance as a privilege of being a customer.  Several banks do this as a perk of signing up.  As an examply, my bank provides me with annual travel insurance so that saves me about £25 every time I go away.

Let comparison sites do the work

Secondly, to save money on insurance, try a comparison site such as Money Supermarket or Compare the Market.  They search hundreds of insurers on your behalf to find you the best deal for your requirements. So, enter your requirements and let them do the hard work for you.

Get cashback on your premium

My best advice to save money on insurance is to visit a cashback site.  All the main insurers will feature on these sites and will pay you a typical amount of £50 cash if you take out insurance with them via a cashback site.  In fact, on Quidco currently is an offer with Hiscox insurance for £80 cashback when you take out buildings and contents insurance! For full details of how cashback sites work, click here.

Also, some of the comparison sites offer cashback so you can earn money on the cheapest deal too.  Quidco has its own car insurance comparison cashback tool which means you get the cheapest cover and cashback!

Don’t forget your home insurance

Finally, don’t be tricked into buying mobile phone insurance, camera insurance, or ring insurance.  You don’t need it as all of this should be covered under your home contents policy.  BUT please check the wording first!

More finance tips to come…..


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