Don't Just Renew - Review Your Insurance!

If one of your insurance policies is coming up to renewal – for
example, your household, motor, pet or annual travel insurance
policy – don't automatically accept that your current insurer
is offering you the best deal there is.

Most insurers know that when it comes to renewal time, around
70% of their customers will accept the quote, without even
seeing if they could get it cheaper elsewhere. This could be
because the customers feel don't have the time or the
inclination to bother or genuinely believe they are being
offered the best deal there is.

However, this complacency could cost the consumer tens – even
hundreds – of pounds every year. Insurers are running a
business after all and most will not reward their customers
with cheaper premiums for loyally sticking by them.

By shopping around – either by going online or by using an
independent broker - you could save yourself a hefty wad of
cash and it doesn't have to be a time consuming exercise.

And while the average consumer is probably sick of being told
that "you must shop around" even the Financial Services
Authority (FSA - which is the independent regulator set up by
Government to look after the financial services industry and
protect consumers – advocate it!

Do note however that when looking for a cheaper deal, whilst
price is important, you should never, ever compromise on cover.
No doubt, there will always be an attractive home or motor
insurance deal available, but the cover may not be adequate for
your needs. The sum insured may not be enough or the policy may
not have the same features and benefits.

Therefore, always compare any new quote on a like for like
basis with your existing cover and not forgetting to look at
the small print and any exclusions.

It doesn't take long to get alternative quotes and in most
cases, you'll be quids in!

About The Author: David Thomson is Chief Executive of
BestDealInsurance (http://www.bestdealinsurance.co.uk) an
independent specialist broker dedicated to providing their
clients with the best deal on their home, motor and life
insurance.

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