Insurance Tips for Saving Money

YOUR PET

When considering pets you should be aware that insurers frequently move the goal posts. If you are frequently claiming or your pet’s medication/treatment becomes more expensive, it is not unknown for companies to refuse to cover the animal the following year. Here it will pay you to do extensive research rather than find out, when you most need the cover, that it has been removed.

Again, many of the ‘big boys’ have moved into this area, which should indicate to you how much money they are looking to make from you and your pet. If you go to Google you will find masses of web sites all vying for your business.

Amongst the front runners are Tesco, Sainsbury’s, Churchill, More Than, M & S, Argos etc. This list also includes Pet-Pals and Petplan. Petplan say that your pet is covered for life, but it would be wise to check on this, i.e., how much will the premium increase by should the animal develop a long, on-going ailment.i.e., What is the premium? If it is not shown you will need to add up how much this will cost you per year, etc. What are the disease/illness restrictions etc.

The alternative is to make a monthly payment into a high interest bearing bank account opened for ‘Tiddles’ - this can be set up automatically with your bank.

1. You will collect quite a considerable sum in this account if your pet is healthy or

2. It more than adequately pays for any veterinary treatment your pet requires.

3. If you do open a special account for Tiddles, remember the amount will increase each month if you have a high interest Account. You may well not be able to call it Tiddles – but you get the drift. You will be making money here as well as saving money.

Again is it all a matter of risk. Remember insurance companies (and bookmakers) rarely, if ever loose money.

Some people take a dog from a dog pound/home, give it a good home and because of the chances that it is a cross breed, then this type of dog can be healthy and have no significant problems throughout its whole life. Again the law of averages comes into play here.

One lady with nine dogs of her own - all used for various tasks - search and rescue, gun dogs etc., received an average quotation of £400 per dog per annum. No thank you. A 'dog' bank account was the preferred option

MOBILE PHONES

Not a subject at the top of most 'to do' lists but well worth considering. Phones are now becoming much sought after designer objects, and if you have a top-of-the-range model you may wish to consider taking out Insurance for this expensive piece of equipment.

Also odd things can happen. The following two incidents actually happened to the same lady. She is an ardent fan of this web site and suggested her wacky experiences should be included. Thank you Carolyn, N.C., U.S.A

She has had the need to call in her Mobile Phone Insurance on two separate occasions.

The first was when she accidentally dropped her 'phone down the loo.

The second time was when a stray cat, that had been hanging around the house was sitting on her lap. From the pong that wafted towards her, poor Carolyn knew she had been left a 'calling card' on her lap! She was wearing her dressing gown at the time, so instantly flung it into the washing machine with a dose of disinfectant for good measure.

Of course, in her hurry she had forgotten her mobile phone was in the dressing gown pocket!

Try not to laugh, but you can see she has every reason to be grateful.

YOUR CAR(S)

Saving money is quite possible here.

In fact there are so many insurance companies offering cheap or cheaper policies from which to choose, that it can become quite confusing.

Some interesting car tips are given on the following page: Cars

Insurance is a very lucrative market and very cut-throat because again many of the ‘big guns’ are now joining the fight. The likes of Tesco, M & S, Saga, Virgin and Asda are all there joining the ranks of the old stagers such as Churchill and Direct Line.

You will need to bear in mind that all insurance companies include a ‘haggle’ factor in their price. In other words they expect to be knocked down on their original figure, so take advantage of this. Saving money is your aim - don't forget! The best plan of action is to get three quotations from different companies, decide which one best suits your needs, and then try and haggle down the price to the best you can obtain.

Some companies such as the AA and Norwich Union run expensive TV advertising campaigns in an effort to convince you that they are superior and the best. Not always so! Ask yourself who is paying for these expensive campaigns – you. They are banging their own drum loudly in the hope of silencing the perhaps, more efficient smaller companies. They are also robbing you of the chances of saving money. Also think twice before you insure via an agent. There is a chance that they will be adding their percentage to the bill, or taking a cut from the company itself. Either way, you are likely to be the loser.

Take a surf around the Internet - you will probably be surprised at what you find lurking there.

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