The government may claim that the economy has turned the corner and is steadily strengthening once again. But the financial pages of the press paint less than a consistently rosy picture – a story in the Telegraph newspaper on the 12^th of January 2016 provides just one example. If there is any chance of saving money on some of the necessities in life, such as insurance premiums, most people are likely to seize the opportunity.

Insurance

Saving money on your insurance premiums is a case in point – and a happy one at that, given the possibilities for ways of reducing the cost of premiums on essential cover for your car, your home, your business or your caravan.

Here at GSI Insurance we are committed to helping you do just that, by matching your particular, individual needs and circumstances to the specific products available in the market.

The opportunities for saving money may differ, of course, from one type of policy to another, but here are a few general suggestions:

• most types of general insurance typically grant a no claims bonus – a discount on this year’s premiums if you have not had to make a claim in previous years;

• no claims discounts accumulate over the years, the longer you go without making a claim, and may have the effect of reducing your premiums by up to 60% or even 75% (according to the Citizens’ Advice Bureau);

• whether you are renewing your insurance cover or thinking of switching insurers, therefore, it is important to claim any no claims discount to which you may be entitled;

• most types of general insurance also allow you to reduce the cost of your premiums by allowing you to shoulder a greater proportion of the risks;

• this may be done by your accepting a higher, voluntary excess – which effectively remains an uninsured risk and therefore one which your insurer may disregard in the calculation of the necessary premiums;

• whether the insurance is for your car, your home, your caravan or your business, there are almost certain to be many measures you may take to mitigate the risk of loss or damage;

• extra security and immobilisation devices for your car or caravan, burglar or intruder alarms for your home, and membership of trade and professional associations in support of your business, might all offer ways of demonstrating your seriousness in mitigating the risks – and earn you discounts on your premiums as a result;

• here at GSI Insurance, we make your quest for saving money even more simple and direct;

• in the case of motor insurance, for instance, we offer our local customers a price match guarantee on any alternative quote they may have received for a comparable insurance policy;

• additional loyalty rewards may also be available if you are taking out a second insurance policy with us, referring a friend or relative who subsequently arranges a policy with us, or if you are a currently working or retired member of the civil service.

It may be heartening to know, therefore, that in an economic climate where tightened belts may still be the order of the day, that there are still many opportunities for saving money on the cost of your essential insurance premiums on policies.