We all tend to buy insurance. Some of us will only buy essential insurance. This is things like basic car insurance which it is illegal to drive without or life and buildings insurance if we have a mortgage. Others of us will have more insurance such as pet insurance, contents insurance or health insurance. There is no getting away from the fact that insurance is expensive though and so we should make sure that we are careful to make sure that we are not paying more than we need to.
Value for Money
It is important to make sure that when we are looking for cheap insurance that we do not settle on buying something cheap which is not suitable for us. There are many different types of insurance at different prices which means that there is a good bit of choice. If you are looking for the cheapest, you might wonder why people pay more when they could just have the cheapest one. The reason for this is because the different policies offer different things. If they all offered exactly the same then it would be easy to just go to the cheapest one and know that you were getting the best value for money. However, they offer different things and we all have different needs so it is a case of trying to find a policy which meets your needs for the best price.
We can often be tempted to go to a comparison website to find the cheapest. This can be a good way of doing some initial research. However, it is worth noting that the website owners will get commission on leads generated by their recommendations. So, if they show a cheap insurer and you click the link on their site and visit that insurer and then take out the insurance they will make money. There is nothing wrong with this, but you need to be aware that it could bias their choice of insurers. No website has them all and they may just pick ones that pay a good commission and ignore those that do not. There may also be some insurers that do not appear on these sites and only deal directly with customers.
Therefore it could be wise to do some of your own research. Think about what you are looking for in an insurer and then pick some that will fit in with those requirements. You may be best using a search engine to see which insurers are available but there will be a lot and it will take time. You might want to find ways to lessen the work such as only looking at insurers that come recommended (if this is something that is important to you). It will be worth it though if you can find one that offers good value for money.
Stick to Your Insurer
If you are happy with the service your insurer provides but would like to pay less money then it could be a good idea to try to negotiate a lower rate. A good thing to do is to go to a comparison website and get some quotes and you are bound to find some cheaper than the renewal quote with your current insurer. So, give them a call and tell them you have found lower prices and you would like to stay with them but hoped to pay less and you will find many will lower their prices. They may also be able to give you suggestions on policy changes you can make to reduce the cost such as increasing your excess.