#MoneyMonday – Check that you are adequately insured and paying a fair price

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#MoneyMonday with Take Charge of Your Money

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Are you properly insured and paying a fair price?

When last did you check your insurance policies to make sure that you’re properly insured? The questions to ask yourself are:

  • Am I adequately insured for all my assets?
  • Am I overinsured and paying too much for insurance I don’t need?
  • Am I paying for services and extras that I don’t need?
  • Am I paying a fair and market-related premium?
  • Not only to make sure that you are adequately insured, but also that you are not over insured.

Take a listen to how Tebogo saved money by phoning his insurance companies to negotiate better rates. I tried this myself last week but was unfortunately not successful. Interestingly though, after contacting my financial advisor who initially helped me find the insurer, he got me a R200 discount in under an hour!

Reminds me of that song

“If at first you don’t succeed
Dust yourself off, and try again
You can dust it off and try again, try again”

You may not always succeed at finding a better price or service and that’s okay. You can always try again in a few months time.

UPDATE: I’ve moved my car insurance to Naked Insure and have added them as a brand I trust.

Action

Find all your insurance policies and print them out if needed.

Highlight important aspects such as what you are covered for, free services, additional extras, premiums and special clauses.

Make sure that you are adequately insured and phone another insurer to get a comparative quote.

Please share your thoughts