Keeping your insurance premiums down

There is really no magic involved - the cost of premiums for any type of insurance is directly related to the amount paid out by insurers in claims. The most effective way of keeping your insurance premiums down, therefore, is to minimise the need to claim. This, in turn, means minimising the risks that you are asking the insurer to cover:

Excess - most insurance policies provide for some element of excess, by which you shoulder the first part of any claim or potential claim. You effectively share the risk, therefore, and in that way can often quite significantly reduce the cost of the insurance premiums;

Reducing the risks - the best way you can help your insurer (and therefore yourself) is by reducing the risk. It follows that your own risk reduction measures are recognised by most types of insurance by way of reduced premiums.

Motor insurers recognise that you have reduced the risk of theft or vandalism, for example, if you can provide off-road or garaged parking for your car. Careful drivers are also rewarded by way of no claims discounts.

Health insurers offer discounts for those who live a healthier lifestyle (such as choosing not to smoke).

And a wide range of home security measures such as window locks etc will also earn you valuable discounts to keep your home insurance premiums down.