Newspaper offers tips for keeping insurance costs down

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Newspaper offers tips for keeping insurance costs down

Mon 16th Jun 2008

Tips on keeping insurance at low costs have been identified by the Guardian.

Among the recommendations are cancelling mobile phone insurance, seeking alternative quotes on car and home insurance instead of always accepting renewal quotes, and checking to see whether travel and students' possessions while at university are already covered elsewhere.

The Guardian notes that most mobile phone insurance does not cover airtime abuse and a lost phone can be claimed for under home contents cover.

It also reports that, according to the AA, an average £629 car insurance renewal quote can drop to £415, or home insurance from £368 to £227.

Private medical and home insurance policies can also cover treatment and personal belongings while abroad.

Students can add their possessions to their parents' home insurance cover rather than take out a new policy, the report continues.

Consumers are also advised to claim back on payment protection insurance (PPI), which is "overpriced and oversold", according to the newspaper.

The Competition Commission recently published preliminary findings of a report that found consumers to be apparently overcharged by over £1.4 billion a year for PPI.

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