Save 758 on insurance by following top ten tips

Consumers can save as much as 758 on insurance bills, a new report has found.

10:38 09 December 2004

Consumers can save as much as 758 on insurance bills, a new report has found.

Price comparison website insuresupermarket.com has found that by shopping around and becoming market savvy, large savings can be made on insurance across the board.

To help consumers make the most of the potential savings on offer, the website has released its top tips.

"Buying insurance is simply buying peace of mind and it's important that people take out the right cover for their needs," said Richard Mason, director of price comparison at insuresupermarket.com.

"However, there are ways of making it cheaper - in the first instance, shopping around will give an annual saving of 77 on home, motor and travel insurance; making a few additional changes to cut out unnecessary extras can save you much more - on average 680."

Insuresupermarket.com's top tips for insurance savings are:
Home Insurance
1 - Consider paying annually as some insurers charge up to 30 per cent APR to pay monthly - save just under 20 on average.
2 - Adding security (by fitting approved door and window locks and installing an alarm) could save you a further 12.
3 - Increasing your voluntary excess could give you a further saving of 12.
Motor Insurance
4 - Halving your mileage (by car sharing or telling your insurer if you only use the car at weekends) - can save you 32.
5 - Increasing your voluntary excess to 250 could give you a further saving of 46.
6 - If you are a younger driver, adding an older driver can cut premiums and save you 15. Adding a voluntary excess of 250 could save a further 61.
Life Assurance
7 - Give up smoking - on average you could save 66 a year if male, 46 if female.
Payment Protection Insurance
8 - Think twice before accepting standard payment protection deals offered by existing lenders as you could save 35 a month (or 1,270 over period of three year loan) by choosing best deal from an independent provider.
Travel Insurance
9 - Do not get bullied into tour operator insurance as you could save 68 on a single-trip policy and 69 on an annual policy by going with the best deal from an independent provider.
Shop around
10 - Last but not least make sure you shop around! By doing only this you could save 77 on average across your home, motor and travel annual insurance premiums.