10 Tips for making your insurance work for you

Here are the top ten tips for making your insurance work for you when conditions keep changing in both your business and personal circumstances:

1. Consistent Cover: Make sure to keep your insurance coverage consistent and reinstate any cover you removed during difficult times. Having essential protections in place acts as a financial barrier against potential risks.
   
   
2. Apply for the Cover You Need: Avoid both over-insuring and under-insuring. Keep track of the value of your assets and adjust your insurance accordingly to avoid issues during the claims process.
   
   
3. Value-Added Products (VAPs): Consider adding value-added products to your insurance policy, such as roadside assistance, home assist, car hire, shortfall or cyber cover. These can provide additional protection and convenience when unexpected events occur.


   
   
4. Times Are Changing: Regularly review and update the insured value of your property, especially if it's unoccupied for extended periods. Ensuring you have the correct replacement value will protect your assets adequately.


   
   
5. Drive Less, Pay Less: If you drive less due to changes in your circumstances, such as working from home more often, inform your insurer. Reducing your risk exposure could lead to a potential decrease in your insurance premium.


   
   
6. Tighten Your Security: Installing security measures like alarm systems, electric fences, and trackers can reduce your insurance premium. For businesses, investing in cybersecurity protections can help safeguard against cyber incidents.


   
   
7. Your Excess Matters: Understand and carefully consider your policy's excesses. Opting for a higher excess can lower your premium, but ensure you can afford to pay it in case of a claim.


   
   
8. Combine Your Policies: Bundling multiple insurance policies (e.g., home contents, car, all-risk items) with one insurer can lead to reduced premiums and more comprehensive coverage. Compare similar products and get help from an adviser.


   
   
9. Look for the Best Deal: If you have a good claims history, your insurance adviser may negotiate a discount on your behalf. Avoid frequently canceling and reinstating your insurance, as it's better to maintain an uninterrupted insurance history.
   
   
10. 

Regularly Review Your Portfolio: Have your insurance adviser review your short-term insurance portfolio at least annually. This ensures that your coverage aligns with any changes in your risk profile and allows for adjustments to the premium accordingly.


    
    

Remember, it's essential to work closely with a trusted insurance adviser who understands your specific needs and can help tailor insurance solutions to fit your changing circumstances. Contact us for a free quote