By financen | January 5, 2010 - 5:02 am - Posted in Insurance

It’s the Christmas time and there will be a lot of spending on gift items, parties and vacations. In these tough times, every single penny that you can save matters. Many insurance providers are likely to throw away money on in-store insurance policies that offer the same cover as their home insurance.

According to the recent research done by a home insurance provider, nearly one third of the total population who purchase insurance policies buy additional insurance to cover the loss, damage or theft of expensive items like jewelry, costly watches or mobile phones. There are many others who have already got their home contents insurance apart from getting the personal possessions cover. In other words, they are doubling up their cover and buying an unnecessary product.

If you are already going through a tight budgeting, these kinds of expenses can be effectively avoided and it can save a lot of money on your shopping bill. Falling into this kind of trap can be easily avoided.

Shop with different home insurance companies before purchasing any cover. You may find the list of all the items that will be covered in your personal possessions cover. Keep on updating your contents policy if it has gone out of date and if you have purchased new items. There are many insurance companies that will cover the whole household items while you are getting your home insured.

The insurance agents will try to sell additional items while you are purchasing a cover. Try to avoid their hard selling techniques. Make sure that you know what kind of insurance cover you need and that you don’t end up wasting money on unnecessary add-ons. Go through the small print before signing the retailer’s policy because it might include some difficult clauses when you need a claim. Don’t be swayed by the price tag either as whereas a retailer’s cover may only cost a few pennies it’s still not worth paying for cover you already have.

This entry was posted on Tuesday, January 5th, 2010 at 5:02 am and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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