The coronary crisis has a financial impact on many households as people lose their jobs or have temporarily less income. If this applies to you, it is of course very annoying and any savings is welcome. We'd love to help you out a bit with our handy tips to save money on your insurance policies.
1. Create an overview
Saving on your insurance starts with creating an overview. So grab your insurance policy or bank statements for the past year and list what you pay premiums for.
2. Do you really need these insurances?
One risk of not taking care of your insurance for a long time is that you end up paying for insurance you don't even need. For example, some people continue to pay for years to insure a smartphone, tablet or laptop they no longer own.
In the Netherlands, only health insurance and car insurance (if you have a car) are mandatory. Home contents, buildings and travel insurance are also useful. But with your other insurance policies, you need to ask yourself if you really need them. If you can pay for the risk you're insured against yourself, your insurance is almost always redundant.
3. Review your car insurance every year
Especially if you've been driving the same car for a long time, you may not have taken care of your car insurance for years. But this world doesn't stand still. Car insurers change their premiums regularly. Your car is getting older and you are (hopefully) building more claim-free years. All these are things that can make another car insurance cheaper for you. Comparing your car insurance annually will only cost you 2 minutes and save you a lot of money.
Bonus tip! Don't drive your car temporarily because of the Corona crisis, for example, because you work from home? Suspending your car ensures that you don't have to pay car tax or premium on your car insurance during this period. However, you will have to park your car on your own property, z.B. In a garage or under your carport.
4. Continuous travel insurance? Take a close look at your plans each year!
Many people have continuous travel insurance. This is nice because you don't have to buy a new insurance policy every time you book a vacation or weekend away. But you'll also be overpaying unnecessarily if you don't adjust coverage each year to match your travel plans. Will you not be traveling outside of Europe this year, for example? Then you can switch global coverage to cheaper European coverage. And if the coronary crisis causes your vacation plans to go haywire this year, you may not even need your ongoing travel insurance in 2020.
5. Combine insurance into one package
Most people have homeowners and liability insurance. And if you have a house to sell, you probably have home insurance. Did you know that you're often much cheaper when you combine these insurance policies into one package? Most insurance companies offer a discount on such a package. What's more, it's especially easy if you have a claim. You don't have to think about what is covered by what insurance policies. Your insurer will arrange this for you. This is very practical! Instantly see how much you're saving: Compare homeowners insurance plans.