Hedging your risk without breaking the bank
Insurance : a necessary risk mitigator . But you need to have the right insurance in place to protect everything you are working hard for . Here are seven ways to save on your premiums :
1 . Adjust your excess : the excess you choose affects the premium you pay . The higher the excess the lower the premium .
2 . Make a considered car choice : choose a lower powered , lower value and low risk vehicle as they more often than not mean lower insurance premiums .
3 . Safety first : whether at home or at the office , ensure that your car is safely stowed away from greedy eyes as a safer car means a lower risk which translates into lower premiums . And , invest in a safe to stow away jewellery and important documents at home – it is cheaper than insurance .
4 . Your behaviour counts : many insurers give discounts for good driver behaviour . Adhering to the rules of the road will improve your bottom line .
5 . Know your assets : with household insurance it will be worth your while to list your assets annually . Inform your insurance provider of any changes . This could affect your premium , but will definitely protect you from the shock of having your claim denied based on non-disclosure .
6 . And know your assets ’ current value : grandfather ’ s stamp collection increases in value every year . Make sure that it is insured at replacement value . That and all your other household assets .
7 . Consolidate : some insurance companies will reward you with lower premiums just for keeping multiple policies under the same roof . If you can ’ t find a better rate with another insurance company , bundling
your policies together might be a quick way to shave 15 - 20 % off your monthly premiums .
Some more great news for our members …
PPS has expanded its Profit- Share benefits to short-term insurance personal products for members with qualifying products . The benefit , which is unique to the short-term insurance industry comes into effect for the financial period starting 1 January 2020 .
A further advantage is that the claims experience with PPS Short-Term Insurance will not have an impact on the profit-share allocated to them .
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