It can seem like an incredible chore to have a proper review of something as little exciting as insurance. Therefore, many people do not give it a thought, take out insurance in the same bank as one has loans, and stay there. For some, this is the cheapest and best, but most can save a lot by taking a few simple steps. It doesn’t have to be as hard as one imagines either. It all depends on what insurance you need in relation to the situation you are in. Either way, some of the advice here will be right for you.
Get the right starting point
Do you know exactly what you pay and what you are insured for? Take a thorough review so that you have a good starting point for deciding whether you should have all the insurance spread or combined. At the same time, you can check that you do not have insurance you do not need. Both banks and insurance companies are eager to sell insurance, so many end up with policies they strictly do not need. Look over if there is someone you can skip, and within each insurance you may also save on changing the coverage. Especially in auto insurance, for example, many people pay too much. If you do not have an expensive car, it may be worthwhile to have a partial cage instead of a full cage. In addition, it is possible to set up the deductible in case of damage. Then the insurance premium will be lower, which can pay off over time. Another thing to consider is that most insurance companies have discount schemes that apply if you collect more insurance with them. With these discounts you can save up to 20%, so unless you have particularly favorable insurance contracts through unions or the like, it will pay off to collect everything in one place.
Change bank or insurance company
As we have written before, you can save money on switching banks, and the same goes for insurance companies. Therefore, after you get an overview of what insurance you need for what coverage, you should take a call round and see where you get the best price. Don’t take for granted that you have competitive banking conditions. Often it also turns out that there can be more to gain from having more customer relationships compared to gathering all banking services in one place. The same applies to insurance companies. The actual exchange or creation of a new customer relationship is not difficult. Once you have decided, the bank or insurance company will usually arrange everything for you. You just have to give them your confirmation and approval. If you try to navigate through the jungle of all the players on the internet, you should always be careful. The FSA publishes named actors who operate without permission when they become aware of it, so you can check with them if in doubt.
The most important insurance
This varies, of course, but if we assume that the average person has a job, a house and a car, there are some policies that are trickier than others to pay for.
If you own a home, whether it is a house, townhouse, holiday home, self-catering or residential apartment, you must take out home and home insurance. If the dwelling is in a joint ownership (self-owned, share or housing cooperative), the home insurance will be taken out by the board on behalf of all the unit holders. Your share of the insurance premium comes from the joint costs. This means that you do not need to take out home insurance on your own as a co-owner in a joint venture. The resident must, however, take out his own insurance. To take home insurance first, it varies from company to company and depends, among other things, on where the home is, the standard and size of the home. In addition, the price you pay will depend on the type of insurance and coverage chosen. The insurance should at least cover damage that results from water leaks, lightning strikes, fire and the like.
You must have this insurance no matter how the home you own or rent. The home insurance covers the building, while the home insurance covers the housing, that is content such as loose and fixed objects. If you only have home insurance you will suffer a great financial loss if a water leak destroys everything you own. A home insurance covers damage or loss, of your personal belongings, that comes as a result of fire, theft, water leaks, accidents, etc.
There are several things to consider before choosing car insurance. The most important thing is that you are sure that you are adequately covered in the event of an accident. You will of course also do this to the lowest possible insurance premium. Some of the main points are who the insurance should apply to and where it should apply. In addition, do you have to choose whether you need additional cover through full cascade, or does it cover with partial cascade? The car insurance will ensure that you are entitled to compensation from the insurance company if you are injured. However, if you are guilty of causing harm to others through gross negligence, you may become liable to the company. Factors affecting the price of your insurance are annual mileage, bonus, hitch, deductible, security equipment and the like. Take a look to see what pays off for your car.
What insurance need you have depends on how often you travel, where you travel and how well you want to be covered. You can check the Foreign Ministry’s country and travel information on the Ministry of Foreign Affairs’ website for reliable information about the country you are going to. Travel insurance does not have to be expensive, but you do not want to be outside when traveling abroad. It can save you if you get sick, delayed, theft or lose your luggage. Thus, everything from small to big problems on holiday can be saved by travel insurance.
Other insurances you may need include boat, disability, life insurance and so on. Make up your mind about which insurance you want to cover before contacting those who want to sell you the policies, then you have a good starting point.