Ten top tips to save on insurance in 2012
MoneySupermarket.com reveals quick and easy ways to save a typical family over £1,100 on their annual insurance costs.
Peter Harrison, insurance expert at MoneySupermarket.com, said: "With the cost of Christmas undoubtedly making a dent in peoples' wallets, many will be looking for ways to reign in their outgoings in the New Year. Making savings on every day finances such as insurance can be made by shopping around and taking some easy steps to reduce premiums. Looking across the board at standard insurance products, a family could see savings of over £1,100 in 2012- an impressive boost to the savings pot to start off the New Year."
Car Insurance:
Top tip 1 - Shop around for the best value deal for your circumstances - save £372.
[Based on the average saving made when using moneysupermarket.com to shop around for car insurance]
Top tip 2 - By adding an older driver who also drives the vehicle to their policy, younger drivers can make significant savings - save £165.
Top tip 3 - Add a partner - save £32.
Top tip 4 - Halve your mileage by car-pooling with a colleague - save £17.
Top tip 5 - Opt for fully comprehensive car insurance rather than third party only cover - save £97
Total = £684
Home Insurance:
Top tip 6 - Pay annually instead of monthly - save £16.
Top tip 7 - Shop around for the best value deal for your circumstances - save £127
[Based on the average saving made when using moneysupermarket.com to shop around for home insurance]
Total = £143
Life Insurance:
Top tip 8 - Give up smoking - save £240 on insurance.
[In order to be classed as a ‘non-smoker' and qualify for life insurance premium savings, insurers insist smokers have kicked the habit for a full year.]
Travel Insurance:
Top tip 9 - Choose the best deal from an independent provider rather than accepting the standard deal from your travel agent - save £24.
Top tip 10 - Choose annual rather than single trip policies if planning to travel abroad more than once a year - save £28
Total = £51
Overall total: £1,118