1. Look at the Insurer and their Credit Rating

Research any insurer you’re thinking about buying from to be sure that the company is financially sound and provides good service.

Look at their credit rating. The higher the rating, the more certain you can be about the company’s ability to pay claims and be around for the long term.   An A rating is the best.

2. Choose the right excess

When choosing a high excess, the premium will be lower, because the insurer is covering less of the cost.

But the trade-off is that you’ll also have to pay more for each claim. It’s good to choose a policy excess that matches the point at which it would become a struggle to make the payment.

3. Be honest

By law you must give all information requested by the insurer, even if you think it is irrelevant it may be something that the insurer considers a material fact. Leaving any important information out could risk future claims being turned down.

4. Read the policy carefully

You need to understand what is, and isn’t, covered by the policy. It’s important to take the time to check it and ask the insurer to explain anything that isn’t clear.

5. Don't double up

Some of us already have some types of insurance – for example through work or as part of a loan agreement.

6. Shop around

It pays to get a range of quotes and compare, looking closely at what is and isn’t included by each policy.

7. Combine insurance

Buying as much insurance as possible from one company can save money, so it’s good to consider the options and see what’s best for you. As always, you need to consider the product and price to gauge if it’s worth it.

8. Take precautions

There are things you can do which can reduce the premiums you pay. For example, for your home and car, such as installing an alarm.

9. Beware of buying insurance offered alongside something else

For example, you might be offered travel insurance when you book a holiday. If you need this insurance, you might get it cheaper with better cover elsewhere once you’ve looked around

10. Have you compared like with like?

Watch out for how different charges, types and levels of cover, and your excesses are calculated when you compare policies.

11. Review before you renew

It’s important to check your coverage each year when you renew your insurance, or whenever your circumstances change.

12. Read 'Good to know' Guides

Make sure you read through our 'Good to know' guide about Insurance. You can download it from here.