Short-Term Savings can lead to Long-Term Debt – 07.08.09


If you are looking to save on annual costs by dropping or modifying insurance coverage, you should do so carefully. There are many common mistakes individuals make with their insurance cover that can put their family’s entire financial position in danger if something goes wrong!

“Insurance is there to protect a family’s financial position, and changing a policy to find a way to save money in the short-term should only be done with careful consideration – Now it’s as important as ever to have the right insurance cover!”

Few are immune to the effects of the economy, but dropping or modifying insurance coverage as a way to save can create a false sense of security – costs can exceed thousands of euros. Without sufficient insurance coverage, you may have to shoulder the financial burden from bills to repair or replace your damaged property or car. Also, protecting your business from losses that may well destroy several years of hard work and cause financial hardship is another important matter to consider!

Avoiding the following common mistakes will help you on a course towards getting better value and protection.

1. Dropping insurance coverage because your car / home / boat is paid off
Insurance covers more than just the asset, it can also provide coverage for things like personal injuries and liability issues that could occur. If something major happens, you could incur a significant out of pocket expense immediately and potentially well into the future.
Not having the RIGHT insurance coverage can create a large financial exposure that could ruin your finances.

2. Shopping on price alone
Make sure that you do not shop by price alone – You want, and deserve, a company that answers your questions and handles claims fairly and efficiently. Select an agent who takes the time to communicate any concerns that you might have. Remember, you will be dealing with this company if you have an accident or an emergency.
Paying a little extra for a more comprehensive policy could bring significant added-value.
Paying less for your insurance could mean that you have lower policy limits and less coverage, especially come claim time!

There are ways you can have the peace of mind knowing that you are protected and yet save on premiums!
A simple example would be taking out a home insurance policy with the same insurer of your motor insurance policy. With us, apart from having protection for what is probably your most costly asset from the obvious storms, theft, floods etc, you will also benefit from a further 10% discount on BOTH your car AND your home insurance premiums!

Contact us and enquire about ways of reducing your premiums and we will help you get the most value.

“Our mission is to put your mind at rest by selecting the best possible solutions with all the protection you need