Getting the best policy at the lowest price is everyone’s ultimate goal at each renewal period. With a number of insurance premium tax rises over recent years, and steady increases in insurance in general, it can seem like a hard task to find a better deal.
We’re here to help. It’s not just your professional insurance that we can help you can save money on, we also help healthcare professionals manage many of their personal policies.
Sometimes there are a number of small changes you can make to reduce your premium and save you money.
Read our useful tips that could save you money on your car insurance
1. Think about security. If you have a garage, don’t use it for storage – keep your car in it. Insurance companies consider this a safer place than on street parking. This, and other security features, such as having an immobiliser, will likely reduce your premium.
2. Check your excess. One easy way to reduce your policy cost is to increase the excess you would pay in the event of a claim. It’s important to keep it at a level that you are comfortable with in the event you do have an at-fault accident and have to pay it.
3. Reduce your mileage. Be sure to properly calculate your annual mileage as over estimating it can make a big difference to your premium. According to thisismoney.co.uk, you could save £50 just for reducing your mileage by 5000 per year.
4. Shop around at renewals. Typically new customers get better deals than loyal customers. Therefore, it is important to get new quotes at each renewal. It is also worth speaking to your current insurer to see if they can match or beat or new quotes.
5. Think carefully before adding younger drivers. It might seem like a good idea to include your children, or other young drivers on your policy, but their inexperience will significantly increase your cost.
6. Choose the right month to buy insurance. Believe it or not, prices fluctuate throughout the year, with the cheapest months to buy typically falling in spring or summer.
7. Consider telematics. Also known as a black box policy, this is a great way to reduce your premium. The box records how you drive and assuming you are a sensible driver, it can significantly reduce your premium.
8. Build up your no claims discount. Even with insurance prices on the rise, you can limit any increase in your policy by maintaining your no claims discount. It is also often prudent to protect your no claims.
9. Avoid direct debit costs. If you pay your insurance monthly, sometimes you incur additional costs. Paying in one go at the beginning of your policy could save you money.
10. Use a trusted broker. Brokers build up good relationships with insurers and their customers. For All Med Pro, that means that we shape specialist insurance for medical professionals and practices which enables us to provide relevant cover at a good price. Working with a customer over a number of years also means that we can really get to know them and get a better understanding of their personal or business situation. That not only helps us to improve our insurance offering, but also means we can really identify ways to save them money on their policy.
So, if you really want to find the right policy at the best price, give the team at All Med Pro a call.