Simple steps can reduce insurance costs, say analysts

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Simple steps can reduce insurance costs, say analysts

Wed 7th Jan 2009

Insurance analysts from the price comparison website moneysupermarket.com have recommended a series of "simple steps" which they claim families can take to help reduce their insurance premiums in 2009.

According to moneysupermarket.com, paying for home insurance annually rather than monthly can help save money, as can shopping around for the best deal to suit individual circumstances.

The website also recommended giving up smoking as a way of saving on health insurance payments and choosing an independent provider for payments protection insurance (PPI), rather than just buying it straight from the loan or credit card provider.

Andy Leadbetter, managing director of insurance at moneysupermarket.com, said: "While insurance is essential for financial security and peace of mind, it is important Brits only opt for a level of cover relevant to their needs, and at the best available price."

Recently the government introduced legislation making it illegal for loan and credit card providers to sell PPI at the same time as loans after the financial regulatory body found that credit card companies like Egg had been using "inappropriate" sales techniques to persuade customers to buy it.

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